TTM Technologies, Inc. Q2 Earnings Preview: Accumulate On Weakness

TTM Technologies delivered record Q1 2026 results, driven by AI data center and defense segments, with 30% YoY revenue growth and 50% EPS growth. AI and defense now comprise 80% of TTMI's business, with defense providing a regulatory moat and a countercyclical annuity undervalued by the market. Management guides Q2 net sales of $930–$970M and non-GAAP EPS of $0.82–$0.88, but consensus expects higher EPS, setting up for another potential beat. Valuation is stretched at 85x trailing P/E; I remain bullish on TTMI's fundamentals but will build my position only on weakness, not at current highs.

TTM Technologies, Inc. (TTMI) is expected to report its Q2 2026 results on 29th July 2026, and my expectations have rarely been higher. Its Q1 2026 was a record on nearly every line. Revenue came in at