Looking back on electronic components & manufacturing stocks’ Q1 earnings, we examine this quarter’s best and worst performers, including TTM Technologies (NASDAQ:TTMI) and its peers.
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 10 electronic components & manufacturing stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 3.6% while next quarter’s revenue guidance was in line.
Luckily, electronic components & manufacturing stocks have performed well with share prices up 32.8% on average since the latest earnings results.
Best Q1: 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 $648.7 million, up 13.8% year on year. This print exceeded analysts’ expectations by 4.6%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EPS guidance for next quarter estimates.
“We delivered a strong quarter with revenues and non-GAAP EPS above the high end of the guided range. Revenues grew 14% year on year due to demand strength in our Aerospace and Defense, Data Center Computing and Networking end markets, the latter two being driven by generative AI,” said Tom Edman, CEO of TTM.
Interestingly, the stock is up 125% since reporting and currently trades at $45.02.
Is now the time to buy TTM Technologies? Access our full analysis of the earnings results here, it’s free.
Knowles (NYSE:KN)
With roots dating back to 1946 and a focus on components that must perform flawlessly in critical situations, Knowles (NYSE:KN) designs and manufactures specialized electronic components like high-performance capacitors, microphones, and speakers for medical technology, defense, and industrial applications.
Knowles reported revenues of $132.2 million, down 32.7% year on year, outperforming analysts’ expectations by 2.5%. The business had an exceptional quarter with revenue guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ EPS guidance for next quarter estimates.
The market seems happy with the results as the stock is up 13.3% since reporting. It currently trades at $17.75.
Is now the time to buy Knowles? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: 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 $631.8 million, down 6.5% year on year, falling short of analysts’ expectations by 1.3%. It was a softer quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and a slight miss of analysts’ EPS guidance for next quarter estimates.
Interestingly, the stock is up 2.9% since the results and currently trades at $39.41.
Read our full analysis of Benchmark’s results here.
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 number beat analysts’ expectations by 11.2%. It was a very strong quarter as it also produced 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 23.2% since reporting and currently trades at $223.01.
Read our full, actionable report on Jabil 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 $4.81 billion, up 47.7% year on year. This print surpassed analysts’ expectations by 12.2%. Overall, it was a very strong quarter as it also put up a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EPS guidance for next quarter estimates.
Amphenol delivered the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is up 58% since reporting and currently trades at $103.91.
Read our full, actionable report on Amphenol here, it’s free.
Market Update
The Fed’s interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump’s presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025.
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