Q3 2024 Teradyne Inc Earnings Call Transcript
Key Points
- Teradyne Inc (TER) delivered third-quarter financial results at the high end of their revenue guidance range, exceeding expectations in gross margin and earnings.
- The Semiconductor business, particularly the memory segment, performed above expectations with record high revenue driven by strong HPM demand.
- The company is seeing stabilization and modest improvement in other SemiTest segments, with utilization rates increasing.
- Teradyne Inc (TER) expects total company revenue growth of approximately 5% for 2024, up from prior expectations of low single-digit growth.
- The robotics business has delivered 8% year-to-date growth despite a challenging industrial macro environment, outperforming its peer group.
- The wireless business has been impacted by a slower-than-expected ramp of WiFi 7, affecting revenue.
- The production board test business continues to be weak due to low demand from Tier 1 automotive OEMs.
- The robotics market is inherently cyclical, and customers have significantly cut back on capital investment plans.
- Visibility into customer forecasts remains limited, with customers not generally providing forecasts beyond a quarter or two.
- The memory revenue is expected to moderate in the fourth quarter following a surge in shipments during the third quarter.
Good day, ladies and gentlemen, and welcome to the Q3 2024 Teradyne Incorporated earnings conference call.
(Operator Instructions)
Please note, this conference is being recorded. I would now like to turn the conference over to the Vice President of Investor Relations, Traci Tsuchiguchi. Please go ahead, ma'am.
Thank you, operator. Good morning, everyone, and welcome to our discussion of Teradyne's most recent financial results. I'm joined this morning by our CEO, Greg Smith; and our CFO, Sanjay Mehta. Following our opening remarks, we'll provide details of our performance for the third quarter of 2024 and our outlook for the fourth quarter of '24.
The press release containing our third quarter results was issued last evening. We are providing slides as well as a copy of this earnings script on the Investor page of the Teradyne website that may be helpful in following the discussion. Replays of this call will be available via the same page after the call ends.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
