TTM Technologies CEO Edman Plans Retirement Amid Record Growth

TTM Technologies reported strong financial results for Q2 2025, with net sales reaching $730.6 million, a 21% increase year-over-year, driven by robust demand in Aerospace and Defense, Data Center Computing, and Networking markets fueled by generative AI. The company achieved record quarterly revenues in these sectors, with GAAP net income of $41.5 million and non-GAAP net income of $60.8 million, alongside an adjusted EBITDA margin of 15%. CEO Thomas T. Edman announced his planned retirement following the appointment of a successor, with the board initiating a CEO search expected to conclude by the end of 2025; Edman will remain in his role until the transition is complete and continue as a director and committee member afterward. Under Edman's leadership, TTM expanded its manufacturing capabilities, reshaped its global footprint, and positioned itself strongly in high-growth markets, though the leadership change introduces some uncertainty regarding future strategic direction. TTM is investing in regional diversification with acquisitions in Wisconsin and Penang to support future growth. The company projects Q3 2025 revenues between $690 million and $730 million, with non-GAAP earnings per share anticipated between $0.57 and $0.63.