NASDAQ$TER

Teradyne Inc · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Teradyne's Q3 2020 results were driven by record memory and storage test shipments along with strong System on a Chip (SOC) test demand for mobility and compute devices.

Teradyne reported revenue of $819 million for Q3 2020, a 41% increase from Q3 2019. GAAP EPS was $1.21, up 61% from Q3 2019, and non-GAAP EPS was $1.18, up 53% from Q3 2019. The results were driven by record memory and storage test shipments along with strong System on a Chip (SOC) test demand.

  • Revenue of $819 million in Q3’20 grew 41% from Q3’19
  • Q3’20 GAAP earnings per share grew 61% and Non-GAAP earnings per share grew 53% from Q3’19
  • Test revenue grew 46% from Q3’19 on Memory, Storage, and System on a Chip (SOC) Test strength
  • Industrial Automation revenue was up sequentially and flat with Q3’19 on improving global manufacturing conditions and new products

Headline financials

Total Revenue

$819M

Previous: $582M+40.8%
EPS (adj)

$1.18

Previous: $0.77+53.2%
Capital Expenditures

-$147M

Previous: -$96M-52.9%
Free Cash Flow

$75.8M

Previous: $39.8M+90.5%
Net Income

$223M

Previous: $136M+63.9%
Operating Income

$270M

Previous: $155M+74.1%
Gross Profit

$459M

Previous: $345M+33.0%
Cash & Equivalents

$945M

Previous: $594M+59.1%
Total Assets

$3.44B

Previous: $2.7B+27.3%
Stock-Based Comp

$11.7M

Previous: $10.7M+8.8%

Revenue & EPS history

Teradyne · Revenue · Quarterly

$819M

Q3 2020+40.8%vs Q3 2019
Beat estimate in 16 of 16 quarters(100%)
ActualEstimate

Revenue by segment

Teradyne · $661M total across 2 segments · Q3 2020

  • Semiconductor Test
    $592M
  • Robotics
    $69M

Forward guidance

Guidance for the fourth quarter of 2020 is revenue of $680 million to $740 million, with GAAP net income of $0.81 to $0.96 per diluted share and non-GAAP net income of $0.90 to $1.06 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 Q3 2020

Historical avgQ3 2020

-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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