NASDAQ$TER
Teradyne Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Teradyne's first quarter results were reported with revenue and earnings exceeding the midpoint of Q1 guidance.
Teradyne reported Q1 2023 revenue of $618 million, a decrease of 18% compared to Q1 2022. GAAP EPS was $0.50, and non-GAAP EPS was $0.55. The company returned $110 million to shareholders through share repurchases and dividends.
- Revenue and earnings surpassed the midpoint of Q1 guidance.
- Q1 2023 revenue reached $618 million, reflecting an 18% decrease from Q1 2022.
- Shareholders received $110 million through share repurchases and dividends in Q1 2023.
- The company anticipates stronger demand in automotive and industrial semiconductor test, which is expected to partially offset the ongoing weakness in smartphone-related end markets.
Headline financials
Revenue & EPS history
Teradyne · Revenue · Quarterly
$618M
Revenue by segment
Teradyne · $504M total across 2 segments · Q1 2023
- Semiconductor Test$415M-13.9%82.3%
- Robotics$89M-13.6%17.7%
Forward guidance
Teradyne anticipates Q2 2023 revenue between $625 million and $685 million, with GAAP net income per diluted share between $0.53 and $0.72, and non-GAAP net income per diluted share between $0.55 and $0.74.
Tailwinds
- Revenue between $625 million and $685 million is expected.
- GAAP net income per diluted share is projected to be $0.53 to $0.72.
- Non-GAAP net income per diluted share is anticipated to be $0.55 to $0.74.
- Guidance excludes acquired intangible asset amortization.
- Guidance includes the related tax impact on non-GAAP adjustments.
Headwinds
- Slowing global industrial growth is contributing to softening near-term demand in Robotics.
- Ongoing weakness in smartphone related end markets.
- New regulations restricting the export to China of advanced semiconductors, supercomputer technology, equipment for the manufacturing of advanced semiconductors and components and technology for the manufacturing in China of certain semiconductor manufacturing equipment.
- Restrictions on the sale of semiconductor testers in China to test certain advanced semiconductors will impact Teradyne’s sales to certain companies in China.
- The Company also has determined that the restrictions on the export of certain US origin components and technology for use in the development and production in China of certain semiconductor manufacturing equipment impact its manufacturing and development operations in China.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.2%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+4.8%
Avg return
30 days after
45%
31 / 69 earnings
Positive
+23.7%
Q2 2019
Best reaction
-19.6%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | +16.6% | +22.3% | |
| Q4 2025 | +8.2% | +20.3% | +22.5% | |
| Q3 2025 | +20.7% | +26.8% | +26.0% | |
| Q2 2025 | +0.0% | +2.2% | +13.5% | |
| Q1 2025 | -2.5% | -1.2% | +5.4% | |
| Q4 2024 | -5.7% | -8.5% | -10.0% | |
| Q3 2024 | -11.7% | -11.2% | -13.7% | |
| Q2 2024 | -18.3% | -16.0% | -10.7% | |
| Q1 2024 | +9.1% | +18.5% | +44.2% | |
| Q4 2023 | -8.9% | -9.1% | -2.3% | |
| Q3 2023 | -7.1% | -8.9% | +1.0% | |
| Q2 2023 | -5.6% | -3.7% | -11.5% | |
| Q1 2023 | -4.2% | -2.2% | +9.9% | |
| Q4 2022 | +0.6% | -2.8% | -2.3% | |
| Q3 2022 | +6.2% | +7.6% | +21.4% | |
| Q2 2022 | -2.2% | +0.8% | -3.8% | |
| Q1 2022 | -5.6% | -6.3% | -6.8% | |
| Q4 2021 | -19.6% | -15.1% | -13.2% | |
| Q3 2021 | +4.9% | +17.9% | +28.6% | |
| Q2 2021 | -4.2% | -0.3% | -8.1% | |
| Q1 2021 | -0.8% | -6.3% | -2.1% | |
| Q4 2020 | -13.1% | -14.9% | -6.9% | |
| Q3 2020 | +6.2% | +6.1% | +22.8% | |
| Q2 2020 | -0.3% | -6.9% | -1.1% | |
| Q1 2020 | +0.5% | -0.8% | -1.2% | |
| Q4 2019 | +6.5% | -2.9% | -7.8% | |
| Q3 2019 | +1.1% | +5.9% | +2.9% | |
| Q2 2019 | +23.7% | +20.3% | +14.5% | |
| Q1 2019 | +7.0% | +8.7% | -5.7% | |
| Q4 2018 | +13.3% | +15.6% | +29.7% | |
| Q3 2018 | -6.4% | +0.2% | +10.9% | |
| Q2 2018 | +5.5% | +8.6% | -1.1% | |
| Q1 2018 | -14.2% | -17.9% | -4.8% | |
| Q4 2017 | -7.5% | -3.2% | -8.3% | |
| Q3 2017 | +7.2% | +8.9% | +11.3% | |
| Q2 2017 | -4.8% | -4.2% | -4.3% | |
| Q1 2017 | +8.3% | +6.6% | +6.0% | |
| Q4 2016 | +3.9% | +8.6% | +9.1% | |
| Q3 2016 | +4.1% | +6.2% | +14.7% | |
| Q2 2016 | -3.2% | -6.5% | -0.3% | |
| Q1 2016 | -7.3% | — | — | |
| Q4 2015 | -4.2% | — | — | |
| Q3 2015 | +8.5% | — | — | |
| Q2 2015 | +3.4% | — | — | |
| Q1 2015 | +9.6% | — | — | |
| Q4 2014 | -1.4% | — | — | |
| Q3 2014 | -0.1% | — | — | |
| Q2 2014 | -8.7% | — | — | |
| Q1 2014 | -5.9% | — | — | |
| Q4 2013 | +2.6% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | -6.0% | — | — | |
| Q1 2013 | +8.1% | — | — | |
| Q4 2012 | -5.1% | — | — | |
| Q3 2012 | +1.9% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2011 | -2.8% | — | — | |
| Q3 2011 | +1.7% | — | — | |
| Q2 2011 | +5.5% | — | — | |
| Q1 2010 | -2.2% | — | — | |
| Q1 2011 | -0.2% | — | — | |
| Q4 2008 | -0.1% | — | — | |
| Q4 2010 | -0.1% | — | — | |
| Q3 2009 | +1.0% | — | — | |
| Q3 2010 | +1.0% | — | — | |
| Q4 2009 | -2.7% | — | — | |
| Q2 2009 | -2.7% | — | — | |
| Q2 2010 | -2.7% | — | — |
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