Latest news with #GregSmith
Yahoo
5 hours ago
- Business
- Yahoo
Why Teradyne Stock Soared 18.9% Today
Key Points The company reported its Q2 earnings, beating most of Wall Street's targets. Guidance for Q3 EPS missed forecasts, but revenue projections suggest a second-half rebound driven by AI. 10 stocks we like better than Teradyne › Shares of Teradyne (NASDAQ: TER) jumped on Wednesday, finishing the day up 18.9%. The spike comes as the S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) fell slightly. Teradyne, an electronics testing company, released mostly better-than-expected earnings today, leading to a prominent analyst maintaining their "overweight" rating for the stock. Teradyne beats in the second quarter (mostly) The company's reported earnings per share (EPS) and revenue figures both slightly topped expectations. Analysts had estimated $0.54 per share on sales of $651 million. Teradyne delivered $0.57 per share on sales of $651 million. While the company surpassed expectations for the quarter, its top line fell by 11% year over year (YOY). Looking ahead, the company expects sales for Q3 of between $710 million and $770 million, above Wall Street targets. It did miss, however, on its EPS guidance. The company set a range of between $0.69 and $0.87, well below the expected $0.89. CEO Greg Smith said he expects AI-related testing to drive growth: "As we progress through the third quarter, we are gaining confidence in AI compute-related revenue inflecting in the second half of the year." Teradyne has room to grow Impressed by the performance and not phased by the lower-than-expected earnings guidance, Cantor Fitzgerald analysts maintained their Overweight rating, citing AI growth prospects. I agree. I think AI-related chip testing could drive major growth over the next few years. Should you invest $1,000 in Teradyne right now? Before you buy stock in Teradyne, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Teradyne wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $630,291!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,075,791!* Now, it's worth noting Stock Advisor's total average return is 1,039% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool recommends Teradyne. The Motley Fool has a disclosure policy. Why Teradyne Stock Soared 18.9% Today was originally published by The Motley Fool
Globe and Mail
5 hours ago
- Business
- Globe and Mail
Why Teradyne Stock Soared 18.9% Today
Key Points The company reported its Q2 earnings, beating most of Wall Street's targets. Guidance for Q3 EPS missed forecasts, but revenue projections suggest a second-half rebound driven by AI. 10 stocks we like better than Teradyne › Shares of Teradyne (NASDAQ: TER) jumped on Wednesday, finishing the day up 18.9%. The spike comes as the S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) fell slightly. Teradyne, an electronics testing company, released mostly better-than-expected earnings today, leading to a prominent analyst maintaining their "overweight" rating for the stock. Teradyne beats in the second quarter (mostly) The company's reported earnings per share (EPS) and revenue figures both slightly topped expectations. Analysts had estimated $0.54 per share on sales of $651 million. Teradyne delivered $0.57 per share on sales of $651 million. While the company surpassed expectations for the quarter, its top line fell by 11% year over year (YOY). Looking ahead, the company expects sales for Q3 of between $710 million and $770 million, above Wall Street targets. It did miss, however, on its EPS guidance. The company set a range of between $0.69 and $0.87, well below the expected $0.89. CEO Greg Smith said he expects AI-related testing to drive growth: "As we progress through the third quarter, we are gaining confidence in AI compute-related revenue inflecting in the second half of the year." Teradyne has room to grow Impressed by the performance and not phased by the lower-than-expected earnings guidance, Cantor Fitzgerald analysts maintained their Overweight rating, citing AI growth prospects. I agree. I think AI-related chip testing could drive major growth over the next few years. Should you invest $1,000 in Teradyne right now? Before you buy stock in Teradyne, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Teradyne wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $630,291!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,075,791!* Now, it's worth noting Stock Advisor's total average return is 1,039% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025
Yahoo
12 hours ago
- Business
- Yahoo
Teradyne Stock Leads S&P 500 Gainers After Better-Than-Expected Results
Shares of Teradyne (TER) paced S&P 500 advancers Wednesday, a day after the automatic test equipment manufacturer posted strong second-quarter results, paced by gains in its Semiconductor Test Group. The North Reading, Mass.-based firm reported adjusted earnings per share of $0.57, while analysts surveyed by Visible Alpha had anticipated $0.54. Revenue fell nearly 11% year-over-year to $651.8 million but also beat estimates. Semiconductor Test Group revenue of $492 million topped expectations of $488.6 million. Teradyne also generated revenue of $75 million in Robotics and $85 million in its Product Test segment. "System-on-a-Chip (SOC), primarily for artificial intelligence applications, was the strongest growth driver," Teradyne CEO Greg Smith said. "Visibility into the remainder of the year has improved, and demand in compute, networking and memory is strengthening. The exact timing of program ramps and capacity adds remain uncertain, but we believe that AI will drive strong second half performance for Teradyne." Teradyne's third-quarter projections of adjusted EPS between $0.69 and $0.87 and revenue of $710 million to $770 million were mostly below estimates but represent sequential growth from Q2. Shares soared about 20% in recent trading but remain more than 12% lower in 2025. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
No Surprises In Teradyne's (NASDAQ:TER) Q2 Sales Numbers But Quarterly Revenue Guidance Misses Expectations
Semiconductor testing company Teradyne (NASDAQ:TER) met Wall Street's revenue expectations in Q2 CY2025, but sales fell by 10.7% year on year to $651.8 million. On the other hand, next quarter's revenue guidance of $740 million was less impressive, coming in 2.3% below analysts' estimates. Its non-GAAP profit of $0.57 per share was 4.9% above analysts' consensus estimates. Is now the time to buy Teradyne? Find out in our full research report. Teradyne (TER) Q2 CY2025 Highlights: Revenue: $651.8 million vs analyst estimates of $650.5 million (10.7% year-on-year decline, in line) Adjusted EPS: $0.57 vs analyst estimates of $0.54 (4.9% beat) Adjusted Operating Income: $98.2 million vs analyst estimates of $97.05 million (15.1% margin, 1.2% beat) Revenue Guidance for Q3 CY2025 is $740 million at the midpoint, below analyst estimates of $757.2 million Adjusted EPS guidance for Q3 CY2025 is $0.78 at the midpoint, below analyst estimates of $0.89 Operating Margin: 13.9%, down from 28.8% in the same quarter last year Free Cash Flow Margin: 20.2%, down from 23.5% in the same quarter last year Inventory Days Outstanding: 114, down from 116 in the previous quarter Market Capitalization: $14.53 billion 'Our Semiconductor Test Group drove better than expected results in the second quarter. System-on-a-Chip (SOC), primarily for artificial intelligence applications, was the strongest growth driver,' said Teradyne CEO, Greg Smith. Company Overview Sporting most major chip manufacturers as its customers, Teradyne (NASDAQ:TER) is a US-based supplier of automated test equipment for semiconductors as well as other technologies and devices. Revenue Growth A company's long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Unfortunately, Teradyne struggled to consistently increase demand as its $2.83 billion of sales for the trailing 12 months was close to its revenue five years ago. This wasn't a great result and suggests it's a lower quality business. Semiconductors are a cyclical industry, and long-term investors should be prepared for periods of high growth followed by periods of revenue contractions. Long-term growth is the most important, but short-term results matter for semiconductors because the rapid pace of technological innovation (Moore's Law) could make yesterday's hit product obsolete today. Just like its five-year trend, Teradyne's revenue over the last two years was flat, suggesting it is in a slump. This quarter, Teradyne reported a rather uninspiring 10.7% year-on-year revenue decline to $651.8 million of revenue, in line with Wall Street's estimates. Company management is currently guiding for flat sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 12.5% over the next 12 months, an improvement versus the last two years. This projection is noteworthy and implies its newer products and services will fuel better top-line performance. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Product Demand & Outstanding Inventory Days Inventory Outstanding (DIO) is an important metric for chipmakers, as it reflects a business' capital intensity and the cyclical nature of semiconductor supply and demand. In a tight supply environment, inventories tend to be stable, allowing chipmakers to exert pricing power. Steadily increasing DIO can be a warning sign that demand is weak, and if inventories continue to rise, the company may have to downsize production. This quarter, Teradyne's DIO came in at 114, which is 28 days above its five-year average. These numbers suggest that despite the recent decrease, the company's inventory levels are higher than what we've seen in the past. Key Takeaways from Teradyne's Q2 Results We enjoyed seeing Teradyne beat analysts' EPS expectations this quarter. We were also happy its adjusted operating income narrowly outperformed Wall Street's estimates. On the other hand, its revenue guidance for next quarter missed. Overall, this quarter was mixed. The stock traded up 3% to $93.36 immediately after reporting. So should you invest in Teradyne right now? If you're making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here, it's free. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Business Wire
a day ago
- Business
- Business Wire
Teradyne Reports Second Quarter 2025 Results
NORTH READING, Mass.--(BUSINESS WIRE)--Teradyne, Inc. (NASDAQ:TER): Teradyne, Inc. (NASDAQ: TER) reported revenue of $652 million for the second quarter of 2025 of which $492 million was in Semiconductor Test, $75 million in Robotics, and $85 million in Product Test. GAAP net income for the second quarter of 2025 was $78.4 million, or $0.49 per diluted share. On a non-GAAP basis, Teradyne's net income for the second quarter of 2025 was $91.6 million, or $0.57 per diluted share, which excluded acquired intangible asset amortization, restructuring and other charges, and included the related tax impact on non-GAAP adjustment. 'Our Semiconductor Test Group drove better than expected results in the second quarter. System-on-a-Chip (SOC), primarily for artificial intelligence applications, was the strongest growth driver,' said Teradyne CEO, Greg Smith. 'Visibility into the remainder of the year has improved, and demand in compute, networking and memory is strengthening. The exact timing of program ramps and capacity adds remain uncertain, but we believe that AI will drive strong second half performance for Teradyne." Guidance for the third quarter of 2025 is revenue of $710 million to $770 million, with GAAP net income of $0.62 to $0.80 per diluted share and non-GAAP net income of $0.69 to $0.87 per diluted share. Non-GAAP guidance excludes acquired intangible asset amortization and amortization on our investment in Technoprobe, as well as the related tax impact on non-GAAP adjustments. Webcast A conference call to discuss the second quarter results, along with management's business outlook, will follow at 8:30 a.m. ET, July 30, 2025. Interested investors should access the webcast at and click on "Investors" at least five minutes before the call begins. Presentation materials will be available starting at 7:30 a.m. ET. A replay will be available on the Teradyne website at Non-GAAP Results In addition to disclosing results that are determined in accordance with GAAP, Teradyne also discloses non-GAAP results of operations that exclude certain income items and charges. These results are provided as a complement to results provided in accordance with GAAP. Non-GAAP income from operations and non-GAAP net income exclude acquired intangible assets amortization, restructuring and other, ERP related expenses, inventory step-up, pension mark-to-market adjustment, discrete income tax adjustments, and includes the related tax impact on non-GAAP adjustments. GAAP requires that these items be included in determining income from operations and net income. Non-GAAP income from operations, non-GAAP net income, non-GAAP income from operations as a percentage of revenue, non-GAAP net income as a percentage of revenue, and non-GAAP net income per share are non-GAAP performance measures presented to provide meaningful supplemental information regarding Teradyne's baseline performance before gains, losses or other charges that may not be indicative of Teradyne's current core business or future outlook. These non-GAAP performance measures are used to make operational decisions, to determine employee compensation, to forecast future operational results, and for comparison with Teradyne's business plan, historical operating results and the operating results of Teradyne's competitors. Non-GAAP diluted shares include the impact of Teradyne's call option on its shares. Management believes each of these non-GAAP performance measures provides useful supplemental information for investors, allowing greater transparency to the information used by management in its operational decision making and in the review of Teradyne's financial and operational performance, as well as facilitating meaningful comparisons of Teradyne's results in the current period compared with those in prior and future periods. A reconciliation of each available GAAP to non-GAAP financial measure discussed in this press release is contained in the attached exhibits and on the Teradyne website at by clicking on 'Investor Relations' and then selecting 'Financials' and the 'GAAP to Non-GAAP Reconciliation' link. The non-GAAP performance measures discussed in this press release may not be comparable to similarly titled measures used by other companies. The presentation of non-GAAP measures is not meant to be considered in isolation, as a substitute for, or superior to, financial measures or information provided in accordance with GAAP. About Teradyne Teradyne (NASDAQ:TER) designs, develops, and manufactures automated test equipment and advanced robotics systems. Its test solutions for semiconductors and electronics products enable Teradyne's customers to consistently deliver on their quality standards. Its advanced robotics business includes collaborative robots and mobile robots that support manufacturing and warehouse operations for companies of all sizes. For more information, visit Teradyne ® is a registered trademark of Teradyne, Inc., in the U.S. and other countries. Safe Harbor Statement This release 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 press release address various matters, including statements regarding Teradyne's financial guidance. Investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements due to known and unknown risks, uncertainties, assumptions, and other factors. Such factors include, but are not limited to, macroeconomic factors and slowdowns or downturns in economic conditions generally and in the markets in which Teradyne operates; decreased or delayed product demand from one or more significant customers; a slowdown or inability in the development, delivery and acceptance of new products; the ability to grow the Robotics business; the impact of increased research and development spending; the impact of epidemics or pandemics such as COVID-19; the impact of a supply shortage on our supply chain and contract manufacturers; the consummation and success of any mergers or acquisitions; unexpected cash needs; the business judgment of the board of directors that a declaration of a dividend or the repurchase of common stock is not in Teradyne's best interests; changes to U.S. or global tax regulations or guidance; the impact of any tariffs or export controls imposed by the U.S. or China; the impact of U.S. Department of Commerce or other government agency regulations relating to Huawei, HiSilicon and other customers or potential customers; the impact of U.S. Department Commerce export control regulations for certain U.S. products and technology sold to military end users or for military end-use in China; the impact of the current conflicts in Israel; the impact of regulations published by the U.S. Department of Commerce relating to semiconductors and semiconductor manufacturing equipment destined for certain end uses in China. The risks included above are not exhaustive. For a more detailed description of the risk factors associated with Teradyne, please refer to Teradyne's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Many of these factors are macroeconomic in nature and are, therefore, beyond Teradyne's control. We caution readers not to place undue reliance on any forward-looking statements included in this press release which speak only as to the date of this press release. Teradyne specifically disclaims any obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein. (1) Cost of revenues includes: Expand Quarter Ended Six Months Ended June 29, 2025 March 30, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Provision for excess and obsolete inventory $ 7,402 $ 4,945 $ 3,261 $ 12,347 $ 9,438 Inventory step-up 343 216 — 560 — Sale of previously written down inventory (1,105 ) (324 ) (592 ) (1,429 ) (1,314 ) $ 6,640 $ 4,837 $ 2,669 $ 11,478 $ 8,124 Expand (2) For the quarters ended June 29, 2025, and March 31, 2025, selling and administrative expenses included $1.1 million and $0.7 million, respectively, of expenses directly related to a planned ERP system implementation. For the six months ended June 29, 2025, selling and administrative expenses included $1.8 million of expenses directly related to a planned ERP system implementation. For the six months ended June 30, 2024, selling and administrative expenses included an equity charge of $1.7 million for the modification of Teradyne executives' retirement agreements. Expand Quarter Ended Six Months Ended June 29, 2025 March 30, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Employee severance (a) $ 2,320 $ 11,395 $ 2,012 $ 13,715 $ 4,038 Lease terminations 72 1,142 — 1,214 — Acquisition and divestiture related expenses (422 ) 1,972 — 1,550 2,214 Other 402 6 — 408 187 $ 2,372 $ 14,515 $ 2,012 $ 16,887 $ 6,440 Expand (a) For the three months ended March 30, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees. For the six months ended June 29, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees. Expand (4) On May 27, 2024, Teradyne sold Teradyne's Device Interface Solution ("DIS") business, a component of the Semiconductor Test segment, to Technoprobe S.p.A. ("Technoprobe"), for $85.0 million, net of cash and cash equivalents sold and a working capital adjustment. (5) Interest and other includes: Expand (6) Under GAAP, when calculating diluted earnings per share, convertible debt must be assumed to have converted if the effect on EPS would be dilutive. Diluted shares assume the conversion of the convertible debt as the effect would be dilutive. Accordingly, for the quarter ended June 30, 2024, diluted shares included 4.9 million shares from the convertible note hedge transaction. For the six months ended June 30, 2024, diluted shares included 6.9 million shares from the convertible note hedge transaction. Expand CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) December 31, 2024 Assets Cash and cash equivalents $ 339,252 $ 553,354 Marketable securities 28,638 46,312 Accounts receivable, net 433,001 471,426 Inventories, net 350,505 298,492 Prepayments 412,981 429,086 Other current assets 19,230 17,727 Total current assets 1,583,607 1,816,397 Property, plant and equipment, net 559,813 508,171 Operating lease right-of-use assets, net 67,407 70,185 Marketable securities 120,684 124,121 Deferred tax assets 239,809 222,438 Retirement plans assets 11,922 11,994 Equity method investment 545,414 494,494 Other assets 54,503 49,620 Acquired intangible assets, net 58,233 15,927 Goodwill 520,470 395,367 Total assets $ 3,761,862 $ 3,708,714 Liabilities Accounts payable $ 172,025 $ 134,792 Accrued employees' compensation and withholdings 176,482 204,991 Deferred revenue and customer advances 123,989 107,710 Other accrued liabilities 110,143 90,777 Operating lease liabilities 19,770 18,699 Income taxes payable 72,856 67,610 Total current liabilities 675,265 624,579 Retirement plans liabilities 139,249 133,338 Long-term deferred revenue and customer advances 40,414 40,505 Deferred tax liabilities 6,756 1,038 Long-term other accrued liabilities 8,186 7,442 Long-term operating lease liabilities 54,691 57,922 Long-term income taxes payable — 24,596 Total liabilities 924,561 889,420 Shareholders' equity 2,837,301 2,819,294 Total liabilities and shareholders' equity $ 3,761,862 $ 3,708,714 Expand CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Quarter Ended Six Months Ended Net income $ 78,372 $ 186,273 $ 177,269 $ 250,470 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 27,312 25,573 52,835 48,927 Stock-based compensation 16,827 14,935 32,031 30,693 Equity in net earnings of affiliate 5,927 — 11,511 — Amortization 4,077 4,631 8,856 9,397 Provision for excess and obsolete inventory 7,402 3,261 12,347 9,438 Losses (gains) on investments (4,450 ) 2,624 (1,078 ) 13,090 Loss (gain) on sale of business — (57,486 ) — (57,486 ) Deferred taxes (7,187 ) (7,161 ) (14,998 ) (16,830 ) Retirement plan actuarial losses (gains) 127 (250 ) 127 (250 ) Other (317 ) 453 3,168 1,240 Changes in operating assets and liabilities, net of businesses acquired: Accounts receivable 36,443 (46,156 ) 49,496 (54,211 ) Inventories 7,342 24,034 (23,707 ) 17,102 Prepayments and other assets 17,230 11,101 30,879 22,190 Accounts payable and other liabilities 27,085 52,539 17,135 (53,009 ) Deferred revenue and customer advances 2,857 4,183 13,056 2,739 Retirement plans contributions (4,294 ) (1,353 ) (5,576 ) (2,774 ) Income taxes (32,665 ) (1,132 ) (19,625 ) 2,622 Net cash provided by operating activities 182,088 216,069 343,726 223,348 Cash flows from investing activities: Purchases of property, plant and equipment (50,408 ) (44,846 ) (114,429 ) (88,869 ) Investments in businesses (2,357 ) (524,653 ) (5,368 ) (524,653 ) Purchases of marketable securities (6,396 ) (11,715 ) (17,150 ) (27,757 ) Acquisitions of businesses, net of cash and cash equivalents (127,378 ) — (144,380 ) — Proceeds from the sale of a business, net of cash and cash equivalents sold — 87,172 — 87,172 Proceeds from maturities of marketable securities 5,223 12,420 32,603 26,858 Proceeds from sales of marketable securities 2,854 555 8,487 21,289 Proceeds from life insurance — — — 873 Net cash used for investing activities (178,462 ) (481,067 ) (240,237 ) (505,087 ) Cash flows from financing activities: Payments of borrowings on revolving credit facility — (185,000 ) — (185,000 ) Dividend payments (19,177 ) (19,000 ) (38,584 ) (37,370 ) Repurchase of common stock (117,398 ) (8,189 ) (274,873 ) (30,306 ) Payments related to net settlement of employee stock compensation awards (229 ) (319 ) (14,954 ) (13,434 ) Proceeds from borrowings on revolving credit facility — 185,000 — 185,000 Issuance of common stock under stock purchase and stock option plans — 4,902 14,792 21,836 Net cash used for financing activities (136,804 ) (22,606 ) (313,619 ) (59,274 ) Effects of exchange rate changes on cash and cash equivalents (3,202 ) 2,105 (3,972 ) 5,346 Decrease in cash and cash equivalents (136,380 ) (285,499 ) (214,102 ) (335,667 ) Cash and cash equivalents at beginning of period 475,632 707,403 553,354 757,571 Cash and cash equivalents at end of period $ 339,252 $ 421,904 $ 339,252 $ 421,904 Expand GAAP to Non-GAAP Earnings Reconciliation (In millions, except per share amounts) Quarter Ended June 29, 2025 % of Net Revenues March 30, 2025 % of Net Revenues June 30, 2024 % of Net Revenues Net revenues $ 651.8 $ 685.7 $ 729.9 Gross profit GAAP 373.0 57.2 % 415.3 60.6 % 425.8 58.3 % Inventory step-up 0.3 0.0 % 0.2 0.0 % — — Gross profit non-GAAP 373.3 57.3 % 415.5 60.6 % 425.8 58.3 % Income from operations - GAAP 90.7 13.9 % 120.8 17.6 % 210.4 28.8 % Acquired intangible assets amortization 3.7 0.6 % 4.6 0.7 % 4.7 0.6 % Restructuring and other (1) 2.4 0.4 % 14.5 2.1 % 2.0 0.3 % ERP related expenses (2) 1.1 0.2 % 0.7 0.1 % — — Inventory step-up 0.3 0.0 % 0.2 0.0 % — — Loss (gain) on sale of business (3) — — — — (57.5 ) -7.9 % Income from operations - non-GAAP $ 98.2 15.1 % $ 140.8 20.5 % $ 159.6 21.9 % Expand Net Income per Common Share Net Income per Common Share Net Income per Common Share June 29, 2025 % of Net Revenues Basic Diluted March 30, 2025 % of Net Revenues Basic Diluted June 30, 2024 % of Net Revenues Basic Diluted Net income - GAAP $ 78.4 12.0 % $ 0.49 $ 0.49 $ 98.9 14.4 % $ 0.61 $ 0.61 $ 186.3 25.5 % $ 1.18 $ 1.14 Amortization of equity method investment 7.4 1.1 % 0.05 0.05 7.4 1.1 % 0.05 0.05 — — — — Acquired intangible assets amortization 3.7 0.6 % 0.02 0.02 4.6 0.7 % 0.03 0.03 4.7 0.6 % 0.03 0.03 Restructuring and other (1) 2.4 0.4 % 0.02 0.01 14.5 2.1 % 0.09 0.09 2.0 0.3 % 0.01 0.01 ERP related expenses (2) 1.1 0.2 % 0.01 0.01 0.7 0.1 % 0.00 0.00 — — — — Inventory step-up 0.3 0.0 % 0.00 0.00 0.2 0.0 % 0.00 0.00 — — — — Pension mark-to-market adjustment (4) 0.1 0.0 % 0.00 0.00 — — — — (0.3 ) 0.0 % (0.00 ) (0.00 ) Loss (gain) on sale of business (3) — — — — — — — — (57.5 ) -7.9 % (0.36 ) (0.35 ) Loss (gain) on foreign exchange contract — — — — (0.6 ) -0.1 % (0.00 ) (0.00 ) (4.2 ) -0.6 % (0.03 ) (0.03 ) Exclude discrete tax adjustments 0.0 0.0 % 0.00 0.00 0.9 0.1 % 0.01 0.01 10.5 1.4 % 0.07 0.06 Non-GAAP tax adjustments (1.8 ) -0.3 % (0.01 ) (0.01 ) (5.1 ) -0.7 % (0.03 ) (0.03 ) (1.5 ) -0.2 % (0.01 ) (0.01 ) Net income - non-GAAP $ 91.6 14.1 % $ 0.57 $ 0.57 $ 121.5 17.7 % $ 0.75 $ 0.75 $ 140.0 19.2 % $ 0.89 $ 0.86 GAAP and non-GAAP weighted average common shares - basic 160.0 161.5 157.8 GAAP and non-GAAP weighted average common shares - diluted (5) 160.1 162.0 163.5 Expand (1) Restructuring and other consists of: Expand Quarter Ended June 29, 2025 March 30, 2025 June 30, 2024 Employee severance (a) $ 2.3 $ 11.4 $ 2.0 Lease terminations 0.1 2.0 — Acquisition and divestiture related expenses (0.4 ) 1.1 — Other 0.4 — — $ 2.4 $ 14.5 $ 2.0 Expand (a) For the quarter ended March 30, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees. Expand (2) For the quarters ended June 29, 2025, and March 30, 2025, selling and administrative expenses included costs directly related to a planned ERP system implementation. (3) On May 27, 2024, Teradyne sold DIS, a component of the Semiconductor Test segment, to Technoprobe, for $85.0 million, net of cash and cash equivalents sold and a working capital adjustment. (4) For the quarters ended June 29, 2025, and June 30, 2024, adjustments to exclude actuarial gains and losses, respectively, recognized under GAAP in accordance with Teradyne's mark-to-market pension accounting. (5) For the quarters ended June 30, 2024, non-GAAP weighted average diluted common shares included 4.9 million shares from the convertible note hedge transaction. Expand Six Months Ended June 29, 2025 % of Net Revenues June 30, 2024 % of Net Revenues Net Revenues $ 1,337.5 $ 1,329.7 Gross profit GAAP 788.3 58.9 % 765.1 57.5 % Inventory step-up 0.6 0.0 % — — Gross profit non-GAAP 788.9 59.0 % 765.1 57.5 % Income from operations - GAAP 211.5 15.8 % 288.1 21.7 % Restructuring and other (1) 16.9 1.3 % 6.4 0.5 % Acquired intangible assets amortization 8.3 0.6 % 9.4 0.7 % ERP related expenses (2) 1.8 0.1 % — — Inventory step-up 0.6 0.0 % — — Equity modification charge (3) — — 1.7 0.1 % Loss (gain) on sale of business (4) — — (57.5 ) -4.3 % Income from operations - non-GAAP $ 239.1 17.9 % $ 248.1 18.7 % Expand Net Income per Common Share Net Income per Common Share June 29, 2025 % of Net Revenues Basic Diluted June 30, 2024 % of Net Revenues Basic Diluted Net income - GAAP $ 177.3 13.3 % $ 1.10 $ 1.10 $ 250.5 18.8 % $ 1.61 $ 1.54 Restructuring and other (1) 16.9 1.3 % 0.11 0.10 6.4 0.5 % 0.04 0.04 Amortization of equity method investment 14.8 1.1 % 0.09 0.09 — — — — Acquired intangible assets amortization 8.3 0.6 % 0.05 0.05 9.4 0.7 % 0.06 0.06 ERP related expenses (2) 1.8 0.1 % 0.01 0.01 — — — — Inventory step-up 0.6 0.0 % 0.00 0.00 — — — — Pension mark-to-market adjustment (5) 0.1 0.0 % 0.00 0.00 (0.3 ) 0.0 % (0.00 ) (0.00 ) Loss (gain) on foreign exchange contract (0.6 ) 0.0 % (0.00 ) (0.00 ) 9.8 0.7 % 0.06 0.06 Equity modification charge (3) — — — — 1.7 0.1 % 0.01 0.01 Loss (gain) on sale of business (4) — — — — (57.5 ) -4.3 % (0.37 ) (0.35 ) Exclude discrete tax adjustments 0.9 0.1 % 0.01 0.01 8.2 0.6 % 0.05 0.05 Non-GAAP tax adjustments (6.9 ) -0.5 % (0.04 ) (0.04 ) (5.7 ) -0.4 % (0.04 ) (0.03 ) Net income - non-GAAP $ 213.2 15.9 % $ 1.33 $ 1.32 $ 222.6 16.7 % $ 1.43 $ 1.37 GAAP and non-GAAP weighted average common shares - basic 160.7 155.4 GAAP weighted average common shares - diluted (6) 161.1 162.9 Expand (1) Restructuring and other consists of: Expand Six Months Ended June 29, 2025 June 30, 2024 Employee severance (a) $ 13.7 $ 4.0 Acquisition and divestiture related expenses 1.6 2.2 Lease terminations 1.2 — Other 0.4 0.2 $ 16.9 $ 6.4 Expand (a) For the six months ended June 29, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees. Expand (2) For the six months ended June 29, 2025, selling and administrative expenses included costs directly related to a planned ERP system implementation. (3) For the six months ended June 30, 2024, selling and administrative expenses included an equity charge of $1.7 million for the modification of Teradyne's executives' retirement agreements. (4) On May 27, 2024, Teradyne sold DIS, a component of the Semiconductor Test segment, to Technoprobe, for $85.0 million, net of cash and cash equivalents sold and a working capital adjustment. (5) For the six months ended June 29, 2025, and June 30, 2024, adjustments to exclude actuarial gains and losses, respectively, recognized under GAAP in accordance with Teradyne's mark-to-market pension accounting. (6) For the six months ended June 30, 2024, non-GAAP weighted average diluted common shares included 6.9 million shares from the convertible note hedge transaction. Expand GAAP to Non-GAAP Reconciliation of Third Quarter 2025 guidance: Expand For press releases and other information of interest to investors, please visit Teradyne's homepage at
