TTM Technologies reported record third-quarter revenue as spending on artificial intelligence infrastructure accelerated demand for its printed circuit boards and engineered systems. The company released the results on October 22 for the quarter that ended September 28, separating the reporting date from the operating period.
AI demand lifts revenue and margins
TTM Technologies said third-quarter net sales reached $1.2039 billion, up from $752.7 million a year earlier. GAAP net income rose to $84.8 million, or $0.79 per diluted share, from $53.1 million, or $0.50 per share.
Adjusted EBITDA doubled to $242.3 million from $120.9 million, and the adjusted EBITDA margin expanded to 20.1% from 16.1%. Non-GAAP net income was $157.8 million, or $1.46 per diluted share, while operating cash flow totaled $154.7 million.
2025: $752.7M
2026: $1,203.9M
2025: $120.9M
2026: $242.3M
Source: TTM Technologies. Each metric pair is scaled to its own 2026 value.
That mix shift matters because higher-value data-center products can support stronger margins than a simple volume increase. Investors comparing the figures can use Fusion Market News’ guide on how to read an earnings report to separate reported earnings from adjusted measures.
Backlog and outlook point to continued growth
Data Center and Networking accounted for 41% of quarterly sales, and management said the segment grew 115% from a year earlier. The result connects TTM with the same AI infrastructure cycle affecting storage suppliers such as Western Digital, although the companies serve different parts of the hardware stack.
TTM reported a book-to-bill ratio of 2.13 and an aerospace and defense backlog of $2.0 billion. A ratio above 1 means orders exceeded shipments during the period, giving the company added revenue visibility beyond the current quarter.
For the fourth quarter, TTM expects sales of $1.42 billion to $1.44 billion and non-GAAP earnings of $1.77 to $1.83 per diluted share. It projected full-year 2026 sales of $4.47 billion to $4.49 billion and forecast 2027 revenue of $6.5 billion to $6.75 billion.
The outlook still depends on customers converting orders into shipments and on TTM executing its capacity plans. Readers tracking the demand driver can review this explainer on AI inference infrastructure.
Elsy kanana
Elsy Kanana is a financial and cryptocurrency journalist at FusionMarketNews, covering digital assets, blockchain technology, financial markets, and emerging fintech trends. Her reporting focuses on market movements, regulatory developments, and on-chain analytics, delivering clear, data-driven insights to readers worldwide.
