Slide 1: TTM Technologies, Inc. Q2'23 Earnings Results Presentation
TTM Technologies, Inc. Q2’23 Earnings Results Presentation August 2nd, 2023
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements This communication may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act o f 1995, including statements related to the future business outlook, events, and expected performance of TTM Technologies, In c. (“T
Slide 3: Key Messages from Q2 2023 Earnings Report and Call
Key Messages from Q2 2023 Earnings Report and Call • Revenue of $546.5M in line with guidance of $530-$570M • GAAP EPS of $0.07 • Non-GAAP EPS of $0.32 well above the guided range of $0.17-$0.23 • Cash balance of $398.7M. Net leverage defined as net debt divided by last twelve months of EBITDA at 1.
Slide 4: Q2'23 End Market Commentary
Q2’23 End Market Commentary1 End Market (% of Q2’23 Q2’22 Year on Year Growth Q3’23 Revenues) Guidance Aerospace & Defense 47% 30% 34% (+6% organic) 45% Automotive 17% 18% (17%) 16% Medical, Industrial & 16% 21% (33%) 17% Instrumentation Data Center Computing 12% 17% (39%) 15% Networking 8% 14% (46%
Slide 5: Q2 2023 Operational Metrics
Q2 2023 Operational Metrics1 Operating Metric Q2’23 Q2’22 Advanced Technology 43% 33% Asia Pacific PCB Capacity Utilization 46% 81% North America PCB Capacity Utilization 38% 44% Top 5 Customers 40% 31% Backlog $556.2 mn $635.7 mn A&D Program Backlog $1.39 bn $737 mn Book to Bill 1.04 0.89 1Results
Slide 6: Quarterly Financial Results and Guidance
Quarterly Financial Results1 and Guidance Financial Metric (Non-GAAP)2 Q2’23 Q2’22 Year on Year Change Q3’23 Guide Revenues $546.5 mn $625.6 mn (12.6%) $550-$590 mn Operating Margin 8.4% 10.8% (2.4 pts) N/A EBITDA Margin 13.7% 15.5% (1.8 pts) N/A EPS $0.32 $0.54 ($0.22) $0.25-$0.31 Cash flow from Op
Slide 7: Thank You
7TT™M Technologies. Inspiring Innovation Thank You
Slide 8: Appendix
7TT™M Technologies. Inspiring Innovation Appendix
Slide 9: Non-GAAP Reconciliations Q2 23
Non-GAAP Reconciliations Q2 23 Second Quarter Second Quarter 2023 2022 2023 2022 Non-GAAP gross profit reconciliation2: Non-GAAP net income and EPS reconciliation4: GAAP gross profit $ 98,507 $ 117,073 GAAP net income $ 6,824 $ 27,792 Add back item: Add back items: Amortization of definite-lived int
Slide 10: Non-GAAP Reconciliations Q2 23
Non-GAAP Reconciliations Q2 23 Second Quarter 2023 2022 Adjusted EBITDA reconciliation6: GAAP net income $ 6,824 $ 27,792 Add back items: Income tax provision (benefit) 6,586 6,337 Interest expense 11,843 10,711 Amortization of definite-lived intangibles 6,275 9,658 Depreciation expense 24,937 21,78
Slide 11: Non-GAAP Reconciliations Q2 23
Non-GAAP Reconciliations Q2 23 1 This information provides a reconciliation of non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, non-GAAP EPS, and adjusted EBITDA to the financial information in our consolidated condensed statements of operations. 2 Non-GAAP gross profit and gro