NASDAQ$TER

Teradyne Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Revenue and earnings exceeded the midpoint of Q2 guidance, with System Test, Wireless Test, and Industrial Automation revenues growing compared to Q2'21, while Semiconductor Test declined as expected.

Teradyne reported revenue of $841 million for the second quarter of 2022, with GAAP EPS of $1.16 and non-GAAP EPS of $1.21. The company's results were above the midpoint of its guidance, driven by strong test group shipments, despite supply shortages and slowing industrial automation growth.

  • Revenue and earnings above the mid-point of Q2 guidance
  • System Test, Wireless Test and Industrial Automation revenues grew compared with Q2’21 while Semiconductor Test declined consistent with guidance
  • Automotive and memory test demand strong while mobility and compute related demand softening
  • Industrial Automation growth slowing

Headline financials

Total Revenue

$841M

Previous: $1.09B-22.6%
EPS (adj)

$1.21

Previous: $1.91-36.6%
Capital Expenditures

-$89.7M

Previous: -$74M-21.3%
Free Cash Flow

$108M

Previous: $254M-57.5%
Net Income

$198M

Previous: $328M-39.8%
Operating Income

$248M

Previous: $389M-36.2%
Gross Profit

$506M

Previous: $647M-21.7%
Cash & Equivalents

$572M

Previous: $954M-40.1%
Total Assets

$3.49B

Previous: $4B-12.8%
Stock-Based Comp

$12.2M

Previous: $11M+11.2%

Revenue & EPS history

Teradyne · Revenue · Quarterly

$841M

Q2 2022-22.6%vs Q2 2021
Beat estimate in 16 of 16 quarters(100%)
ActualEstimate

Revenue by segment

Teradyne · $642M total across 2 segments · Q2 2022

  • Semiconductor Test
    $541M-35.1%
  • Robotics
    $101M+9.8%

Forward guidance

Guidance for the third quarter of 2022 is revenue of $760 million to $840 million, with GAAP net income of $0.86 to $1.12 per diluted share and non-GAAP net income of $0.90 to $1.16 per diluted share.

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 Q2 2022

Historical avgQ2 2022

-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

Earnings price reactions
QuarterReport dateReaction (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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