Financial Data and Key Metrics - Q3 2024 sales were $737 million, at the high end of guidance, with non-GAAP EPS of $0.90, above the high-end guide of $0.86 [12] - Non-GAAP gross margins were 59.7%, above guidance due to product mix [12] - Non-GAAP operating expenses were $275 million, up sequentially and year-over-year, consistent with guidance [12] - Non-GAAP operating profit was approximately 22% [12] - Free cash flow was $114 million, driven by earnings and net working capital improvements [15] - Q4 sales are expected to be between $710 million and $760 million, with gross margins estimated at 59.5% to 60.5% [15] Business Line Performance - Semi Test revenue for Q3 was $543 million, with SoC contributing $393 million and Memory $150 million [13] - SoC strength was driven by Compute, while Mobile and Industrial continued to ship at consistent levels with Q2 [13] - Memory Test revenue was driven by HBM DRAM shipments, flash tooling for new UFS 4.0 standard in Mobility, and DRAM wafer sort [13] - System Test group revenue was $73 million, with continued weakness across businesses, particularly in Production Board Test and Storage Test [13] - Robotics revenue was approximately $89 million, flat sequentially and up 3% year-over-year, with UR contributing $73 million and MiR contributing $15 million [14] Market Performance - Cloud AI is driving demand in both the SoC and Memory Test markets, with Semi Test business performing above expectations [5] - Memory business delivered record high revenue in Q3 due to strong HBM demand [5] - SoC business was driven by networking and vertically integrated producers (VIPs) designing silicon for Cloud and Edge AI applications [5] - Robotics business has delivered 8% year-to-date growth despite a worsening industrial macro backdrop [10] Strategic Direction and Industry Competition - AI is a transformational secular growth driver across Teradyne's businesses, both in test and robotics [12] - The company is increasing its SoC SAM forecast for the Compute market segment by $200 million to $1.8 billion in 2024, up from $1.4 billion in 2023 [7] - Memory TAM for 2024 is now expected to be over 35% higher than the last peak in 2021, driven by AI-driven HBM DRAM demand [8] - Robotics growth strategy focuses on OEM solutions channel development and innovation-driven SAM expansion [11] Management Commentary on Operating Environment and Future Outlook - Cloud AI demand is expected to continue into Q4, but memory revenue is expected to moderate after a surge in Q3 [9] - The company expects a broader market recovery as it progresses through 2025, with lead times returning to normal [6] - Robotics business is expected to grow 15% to 20% above the industrial automation peer group, despite macroeconomic challenges [18] - The company is planning a low teens increase in year-over-year OPEX for 2025, mainly to fund Semi Test growth initiatives [20] Other Important Information - The company repurchased $25 million of shares and paid $20 million in dividends in Q3 [15] - Equity investment in Technoprobe is reflected below the line in the income statement, with 10% of TPI's profit recognized one quarter in arrears [14] - The company expects Q1 2025 revenue to be roughly 5% to 10% down quarter-over-quarter, with gross margins slightly below the target model [16] Q&A Session Summary Question: System-Level Test (SLT) TAM and Opportunities - SLT TAM is difficult to measure accurately, but the company sees growth opportunities in Compute and mobile markets, with significant strength expected in 2025 [22] - SLT is becoming an important part of the test strategy for processors in smartphones, with additional customers in the mobile space expected to drive growth [22] Question: Test Time for AI Blackwell and SLT Opportunities - Higher test times are tied to device complexity, with SLT acting as a backstop to limit growth in test time [23] - The company's future is tied to vertically integrated producers (VIPs) and networking, with increased networking test seconds expected to grow as fast as Compute test seconds [23] Question: TAM Expansion and Sales Growth - TAM expansion is driven by stronger business in AI Compute and HBM Memory, as well as better visibility into the Chinese market [25] - The company expects to stay on model towards its 2026 plan, with growth of 20% to 25% in 2025 [26] Question: Robotics Business Growth and Industry Comparison - The Robotics business has faced a soft end market, but the company has added high payload robots and established an OEM solutions channel, driving growth [28] - The company expects to outgrow traditional suppliers in robotics and industrial automation by 15 to 20 percentage points per year, with a normal market growth rate of 5% [29] Question: OPEX Growth and Operating Leverage - OPEX growth in 2025 is expected to be in the low teens, with investments focused on Semi Test growth initiatives [30] - The company expects to see operating leverage in 2025, with revenue growth outpacing OPEX growth [30] Question: Industrial Test TAM Revision - The industrial test TAM revision is due to better visibility into the size of the TAM in China, served by indigenous suppliers [42] Question: Mobile SoC Test TAM and Long-Term Opportunity - The company expects the floor in mobile SoC Test TAM to be closer to $1 billion, with upside depending on AI-enabled smartphones and refresh rates [54] Question: Robotics Business Portfolio and Ownership - The company believes it is the right owner of the Robotics business, with a unique value proposition in the advanced robotics space [57] - The company may consider separating the Robotics business in the future, but currently sees value in maintaining the combined entity [57] Question: Semi Test OPEX Increase and Market Share - The Semi Test OPEX increase is cyclical, with investments in VIP customers and networking test driving market share growth [59] Question: HBM Market Share and Post-Stack Die Test - The company has qualified for post-stack die test with a major HBM supplier and expects to gain share in the wafer sort market [60] Question: Mobile Processor Complexity and AI Integration - The company expects modest complexity increases in mobile processors in 2025, driven by AI capabilities, but no significant modem integration [63] Question: Capacity Utilization Trends - Utilization rates have increased mid- to high single digits quarter-on-quarter, with further improvements expected in Q4 [64]

TERADYNE Financial Results: Q3 2024 October 24, 2024 SAFE HARBOR 2 This presentation contains forward-looking statements including statements regarding Teradyne's future business prospects, financial performance or position and results of operations. You can identify forward-looking statements by their use of forward-looking words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "goal" or other comparable terms. Forward-looking statements in this presentation address va ...

Exhibit 99.1 Teradyne Reports Third Quarter 2024 Results • Revenue at the high-end and earnings above Q3 guidance • Revenue of $737 million in Q3'24, up 5% from Q3'23 • Year-over-year growth driven by strong AI-related demand | --- | --- | --- | --- | --- | --- | --- | |-----------------|-------|---------------|-------|---------------|-------|-------------| | Revenue (mil) | $ | Q3'24 \n737 | $ | Q3'23 \n704 | $ | Q2'24 \n730 | | GAAP EPS | $ | 0.89 | $ | 0.78 | $ | 1.14 | | Non-GAAP EPS | $ | 0.90 | $ | 0. ...

Teradyne (TER) came out with quarterly earnings of $0.90 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.38%. A quarter ago, it was expected that this maker of wireless products, data storage and equipment to test semiconductors would post earnings of $0.76 per share when it actually produced earnings of $0.86, delivering ...

Teradyne (TER) is scheduled to report its third-quarter 2024 results on Oct. 23. For the third quarter, TER expects revenues between $680 million and $740 million. It anticipates non-GAAP earnings per share (EPS) between 66 cents and 86 cents. The Zacks Consensus Estimate for third-quarter EPS is pegged at 78 cents, unchanged in the past 30 days. This suggests a 2.50% decline from the figure reported in the year-ago quarter. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar The Zacks ...

Wall Street analysts forecast that Teradyne (TER) will report quarterly earnings of $0.78 per share in its upcoming release, pointing to a year-over-year decline of 2.5%. It is anticipated that revenues will amount to $714.07 million, exhibiting an increase of 1.5% compared to the year-ago quarter. Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this ...

Teradyne, Inc. (NASDAQ: TER ) is about to report its Q3 earnings on the 23 rd of October, so I decided to go through the numbers and what I would like to see going forward. I am still MSc in Finance. Long-term horizon investor mostly with 5-10 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more than anything. I also sell options from time to time. Analyst's Disclosure: I/we have no ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sellside) analysts often affect a stock's price, do they really matter? Let's take a look at what these Wall Street heavyweights have to say about Teradyne (TER) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Teradyne currently has an average brokerag ...

Teradyne (TER) closed the latest trading day at $133.93, indicating a -0.53% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.42%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.38%. The maker of wireless products, data storage and equipment to test semiconductors's stock has dropped by 1.53% in the past month, falling short of the Computer and Technology sector's gain of 1.78% and the S&P 500's gain of 2.06%. An ...

Teradyne (TER) recently announced a collaboration between its Robotics division, Teradyne Robotics and Siemens to develop advanced robotics showcase at MxD (Manufacturing x Digital) in Chicago, a leading hub for digital manufacturing and cybersecurity in the United States. The collaboration will highlight advanced robotics and automation solutions, featuring products from Teradyne Robotics subsidiaries, Universal Robots and MiR. The showcase will demonstrate how cobots, mobile robots and AI-driven technolog ...