BUZZ-TTM Technologies revenue misses expectations, shares face the biggest drop in 26 years

October 22 - ** TTM Technologies (TTMI.O) share price plunged by 29% to $72.62, marking the largest single-day decline since December 2000

** Revenue from the data center and networking business segment accounted for 41% of Q3 net sales, lower than the 49% previously expected by CEO Edwin Lokx

** Lokx pointed out that delays in customer project schedules were the reason for actual data missing expectations

** According to data compiled by London Stock Exchange Group (LSEG), the printed circuit board manufacturer reported Q3 revenue of $1.2 billion, higher than analysts' expectations of $1.13 billion

** The stock was also dragged down by concerns over rising debt among data center-related companies, which last week had triggered share price plunges at high-debt operators such as CoreWeave

** Other circuit board manufacturers’ share prices also fell: Flex (FLEX.O) dropped 10.3%, Sanmina (SANM.O) fell 9.5%, Plexus (PLXS.O) declined 7.2%

** Including today's session, TTMI shares are up 5% year-to-date

(To facilitate non-native English speakers, Reuters offers automated translations of its reports into several languages. As automated translations may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translations, which are provided solely for reader convenience. Reuters assumes no responsibility for any harm or loss resulting from the use of the automated translation feature.)