Ttm Technologies, Inc. · NASDAQ:TTMI
Ttm Technologies — Q1 2023 Earnings Presentation
11 slides from Ttm Technologies's earnings presentation, May 3, 2023
Slide 1: Q1'23 Earnings Results Presentation
TTM Technologies, Inc. Q1’23 Earnings Results Presentation May 3rd, 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 Q1 2023 Earnings Report and Call
Key Messages from Q1 2023 Earnings Report and Call • Revenue of $544.4M below guidance of $550-$590M • GAAP EPS of ($0.06) • Non-GAAP EPS of $0.18 within guidance of $0.16-$0.22 • Operating cash flow of $55.1 million; free cash flow of $24.4 million • Cash balance of $417.5M. Net leverage defined as
Slide 4: Q1'23 End Market Commentary
Q1’23 End Market Commentary End Market (% of Q1’23 Q1’22 Year on Year Growth Q2’23 Revenues) Guidance Aerospace & Defense 43% 30% 35% (+6.7% organic) 45% Automotive 17% 20% (19%) 18% Medical, Industrial & 19% 21% (17%) 18% Instrumentation Networking 11% 13% (24%) 8% Data Center Computing 10% 16% (37
Slide 5: Q1 2023 Operational Metrics
Q1 2023 Operational Metrics1 Operating Metric Q1’23 Q1’22 Advanced Technology 41% 33% Asia Pacific PCB Capacity Utilization 52% 78% North America PCB Capacity Utilization 39% 49% Top 5 Customers 36% 33% Backlog $482.2 mn $605.3 mn A&D Program Backlog $1.38 bn $768 mn Book to Bill 0.82 1.14 1Results
Slide 6: Quarterly Financial Results and Guidance
Quarterly Financial Results and Guidance Financial Metric (Non-GAAP)1 Q1’23 Q1’22 Year on Year Change Q2’23 Guide Revenues $544.4 mn $581.3 mn (6.3%) $530-$570 mn Operating Margin 6.1% 6.8% (0.7 pts) N/A EBITDA Margin 10.7% 10.7% 0 pts N/A EPS $0.18 $0.24 ($0.06) $0.17-$0.23 Cash flow from Ops $55.1
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 Q1 23
Non-GAAP Reconciliations Q1 23 First Quarter 2023 2022 First Quarter 2023 2022 Non-GAAP gross profit reconciliation2: Non-GAAP net income and EPS reconciliation4: GAAP gross profit $ 86,123 $ 90,923 GAAP net (loss) income $ (5,814) $ 17,246 Add back items: Add back item: Amortization of definite-liv
Slide 10: Non-GAAP Reconciliations Q1 23
Non-GAAP Reconciliations Q1 23 First Quarter 2023 2022 Adjusted EBITDA reconciliation6: GAAP net (loss) income $ (5,814) $ 17,246 Add back items: Income tax benefit (7,924) (769) Interest expense 12,807 11,361 Amortization of definite-lived intangibles 27,772 9,658 Depreciation expense 25,253 21,500
Slide 11: Non-GAAP Reconciliations Q1 23
Non-GAAP Reconciliations Q1 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