From The Motley Fool · Anders Bylund · · 50s
TTM Technologies Stock Plunges 30%
TTM Technologies stock dropped 27.66% after Q3 earnings beat masked deeper supply chain and debt issues.
In brief
TTM Technologies stock dropped 27.66% after Q3 earnings beat masked deeper supply chain and debt issues. TTM Technologies stock plunged 27.66% due to supply chain delays and new debt from acquisitions after Q3 earnings beat. Originally reported by The Motley Fool.
Stock Plunges 27.66%
TTM Technologies stock dropped 27.66% today after Q3 earnings beat.
Q3 Earnings Beat
Sales rose 59% year-over-year to $1.20 billion with adjusted earnings at $1.46 per share.
Supply Chain Delays
Critical materials have 12-week wait times, sometimes up to 24 weeks.
New Debt Impact
Acquisitions added $20 million quarterly interest expenses from new debt.
Stock Reaction
Investors pulled back after earnings call revealed supply chain and debt concerns.
Here's the gist
TTM Technologies stock plunged 27.66% due to supply chain delays and new debt from acquisitions after Q3 earnings beat.
