NYSE$INTT
inTEST Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Consistent strong execution validated by revenue growth.
inTEST Corporation reported a strong first quarter in 2023, with revenue reaching $31.9 million, a 32.5% increase year-over-year. The company achieved a gross margin of 47.2% and net income of $2.8 million, with adjusted EBITDA margin at 15.1%. Strong demand drove orders of $30.8 million, resulting in a backlog of $45.7 million.
- Revenue grew by 32.5% year-over-year to $31.9 million, driven by strong performance across most markets.
- Gross margin was strong at 47.2%, reflecting favorable mix and the impact of pricing actions.
- Orders increased by 23.0% over the prior year, indicating robust demand for inTEST's technologies.
- The company continues to expect 2023 revenue in the range of $125 million to $130 million.
Headline financials
Revenue & EPS history
inTEST · Revenue · Quarterly
$31.9M
Forward guidance
The company expects revenue for the second quarter of 2023 to be in the range of $31 million to $33 million, with a gross margin of approximately 46%. Full year revenue expectations are held, while gross margin and operating expense expectations are modestly revised.
Tailwinds
- Revenue for the second quarter of 2023 is expected to be in the range of $31 million to $33 million.
- Gross margin for the second quarter is expected to be approximately 46%.
- EPS is expected to be in the range of $0.21 to $0.26
- Adjusted EPS is expected to be in the range of $0.25 to $0.30
- Continue to expect 2023 revenue in the range of $125 million to $130 million
Headwinds
- Second quarter 2023 operating expenses, including amortization, are expected to run at approximately $11.4 million to $11.7 million, reflecting annual merit increases.
- Intangible asset amortization is expected to be approximately $540,000 pre-tax, or approximately $450,000 after tax.
- Interest expense is expected to be approximately $190,000 for the quarter
- Effective tax rate is expected to be approximately 16% to 17% for the year.
- Approximately 45% of the backlog is expected to ship beyond the second quarter of 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+0.2%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+0.1%
Avg return
30 days after
55%
35 / 64 earnings
Positive
+30.0%
Q4 2016
Best reaction
-26.2%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +6.5% | -10.3% | |
| Q4 2025 | +17.7% | +26.9% | +40.4% | |
| Q3 2025 | -2.6% | -5.5% | -9.0% | |
| Q1 2025 | -6.1% | +2.7% | -2.7% | |
| Q4 2024 | -4.1% | -3.9% | -27.1% | |
| Q3 2024 | +0.1% | +9.5% | +5.7% | |
| Q2 2024 | -26.2% | -32.1% | -28.7% | |
| Q1 2024 | -4.9% | -11.1% | -15.2% | |
| Q4 2023 | +21.3% | +22.0% | +7.0% | |
| Q3 2023 | -8.3% | -10.1% | +0.8% | |
| Q2 2023 | -11.5% | -16.8% | -14.8% | |
| Q1 2023 | +11.9% | +17.7% | +18.8% | |
| Q4 2022 | +2.6% | +9.1% | +40.9% | |
| Q3 2022 | -7.1% | -7.2% | +14.6% | |
| Q2 2022 | +10.8% | +14.7% | -1.2% | |
| Q1 2022 | -18.3% | -17.0% | -9.2% | |
| Q4 2021 | -18.9% | -14.5% | -4.8% | |
| Q3 2021 | +19.3% | +17.3% | +9.7% | |
| Q2 2021 | -21.4% | -23.4% | -15.4% | |
| Q1 2021 | +1.6% | -2.4% | +21.5% | |
| Q4 2020 | +9.0% | +6.7% | +8.0% | |
| Q3 2020 | +6.3% | -1.0% | -1.6% | |
| Q2 2020 | +2.5% | +3.3% | +2.6% | |
| Q1 2020 | +0.6% | -6.2% | +15.8% | |
| Q4 2019 | -7.3% | -11.1% | -51.0% | |
| Q3 2019 | -1.7% | -1.3% | +10.5% | |
| Q2 2019 | +5.1% | +1.3% | -7.3% | |
| Q1 2019 | -21.6% | -21.9% | -26.9% | |
| Q4 2018 | -2.7% | -3.5% | -7.4% | |
| Q3 2018 | -3.9% | -6.0% | -5.4% | |
| Q2 2018 | +9.0% | +22.9% | +21.5% | |
| Q1 2018 | -4.0% | +0.0% | -2.6% | |
| Q4 2017 | +10.2% | +2.5% | -15.5% | |
| Q3 2017 | -4.7% | +4.7% | +5.3% | |
| Q2 2017 | -16.0% | -8.9% | -10.1% | |
| Q1 2017 | +4.3% | +9.3% | +17.3% | |
| Q4 2016 | +30.0% | +28.0% | +24.0% | |
| Q3 2016 | +3.3% | +4.4% | +11.0% | |
| Q2 2016 | +3.3% | +1.0% | -4.8% | |
| Q1 2016 | +1.6% | — | — | |
| Q4 2015 | -4.0% | — | — | |
| Q3 2015 | -0.5% | — | — | |
| Q2 2015 | +1.7% | — | — | |
| Q1 2015 | +6.6% | — | — | |
| Q4 2014 | +4.6% | — | — | |
| Q3 2014 | -0.7% | — | — | |
| Q2 2014 | +8.2% | — | — | |
| Q1 2014 | -3.1% | — | — | |
| Q4 2013 | +0.7% | — | — | |
| Q3 2013 | -3.0% | — | — | |
| Q2 2013 | +2.8% | — | — | |
| Q1 2013 | +3.8% | — | — | |
| Q4 2012 | -5.1% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +1.9% | — | — | |
| Q1 2012 | -2.0% | — | — | |
| Q1 2011 | -2.0% | — | — | |
| Q4 2011 | +1.4% | — | — | |
| Q3 2010 | +1.7% | — | — | |
| Q3 2011 | +1.7% | — | — | |
| Q2 2010 | +7.1% | — | — | |
| Q4 2010 | +7.1% | — | — | |
| Q2 2011 | +7.1% | — | — | |
| Q1 2010 | -4.3% | — | — |
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