Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at TTM Technologies (NASDAQ:TTMI) and the best and worst performers in the electronic components & manufacturing industry.
The sector could see higher demand as the prevalence of advanced electronics increases in industries such as automotive, healthcare, aerospace, and computing. The high-performance components and contract manufacturing expertise required for autonomous vehicles and cloud computing datacenters, for instance, will benefit companies in the space. However, headwinds include geopolitical risks, particularly U.S.-China trade tensions that could disrupt component sourcing and production as the Trump administration takes an increasingly antagonizing stance on foreign relations. Additionally, stringent environmental regulations on e-waste and emissions could force the industry to pivot in potentially costly ways.
The 9 electronic components & manufacturing stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 5.1% while next quarter’s revenue guidance was in line.
In light of this news, share prices of the companies have held steady as they are up 2.6% on average since the latest earnings results.
Best Q2: TTM Technologies (NASDAQ:TTMI)
As one of the world's largest printed circuit board manufacturers with facilities spanning North America and Asia, TTM Technologies (NASDAQ:TTMI) manufactures printed circuit boards (PCBs) and radio frequency (RF) components for aerospace, defense, automotive, and telecommunications industries.
TTM Technologies reported revenues of $730.6 million, up 20.7% year on year. This print exceeded analysts’ expectations by 9%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ EPS estimates.
“We delivered a strong quarter with revenues and non-GAAP EPS above the high end of the guided range with non-GAAP EPS at a quarterly record high. Revenues grew 21% year on year due to demand strength in our Aerospace and Defense, Medical, Industrial and Instrumentation, Data Center Computing, and Networking end markets, with the increased demand in the latter two being driven by the requirements of generative AI,” said Tom Edman, CEO of TTM.
Unsurprisingly, the stock is down 6.9% since reporting and currently trades at $45.36.
Is now the time to buy TTM Technologies? Access our full analysis of the earnings results here, it’s free.
Amphenol (NYSE:APH)
With over 90 years of connecting the world's technologies, Amphenol (NYSE:APH) designs and manufactures connectors, cables, sensors, and interconnect systems that enable electrical and electronic connections across virtually every industry.
Amphenol reported revenues of $5.65 billion, up 56.5% year on year, outperforming analysts’ expectations by 11.9%. The business had a very strong quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EPS guidance for next quarter estimates.
Amphenol achieved the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems happy with the results as the stock is up 6.7% since reporting. It currently trades at $108.62.
Is now the time to buy Amphenol? Access our full analysis of the earnings results here, it’s free.
Slowest Q2: Rogers (NYSE:ROG)
With roots dating back to 1832, making it one of America's oldest continuously operating companies, Rogers (NYSE:ROG) designs and manufactures specialized engineered materials and components used in electric vehicles, telecommunications, renewable energy, and other high-performance applications.
Rogers reported revenues of $202.8 million, down 5.3% year on year, exceeding analysts’ expectations by 2%. Still, it was a slower quarter as it posted a significant miss of analysts’ EPS guidance for next quarter estimates and a significant miss of analysts’ EPS estimates.
Interestingly, the stock is up 5.9% since the results and currently trades at $69.43.
Read our full analysis of Rogers’s results here.
Benchmark (NYSE:BHE)
Operating as a critical behind-the-scenes partner for complex technology products since 1979, Benchmark Electronics (NYSE:BHE) provides advanced manufacturing, engineering, and technology solutions for original equipment manufacturers across aerospace, medical, industrial, and technology sectors.
Benchmark reported revenues of $642.3 million, down 3.5% year on year. This number topped analysts’ expectations by 0.6%. Zooming out, it was a mixed quarter as it also produced a narrow beat of analysts’ EPS guidance for next quarter estimates but revenue guidance for next quarter slightly missing analysts’ expectations.
The stock is flat since reporting and currently trades at $39.60.
Read our full, actionable report on Benchmark here, it’s free.
Jabil (NYSE:JBL)
With manufacturing facilities spanning the globe from China to Mexico to the United States, Jabil (NYSE:JBL) provides electronics design, manufacturing, and supply chain solutions to companies across various industries, from healthcare to automotive to cloud computing.
Jabil reported revenues of $7.83 billion, up 15.7% year on year. This result beat analysts’ expectations by 11.2%. Overall, it was a very strong quarter as it also put up an impressive beat of analysts’ full-year EPS guidance estimates and full-year revenue guidance beating analysts’ expectations.
Jabil scored the highest full-year guidance raise among its peers. The stock is up 22.8% since reporting and currently trades at $222.29.
Read our full, actionable report on Jabil here, it’s free.
Market Update
Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.
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