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Oct 03, 2021
Teradyne Q3 2021 Earnings Report
Teradyne's Q3 2021 results reflected strong demand and double-digit revenue and profit growth.
Key Takeaways
Teradyne reported Q3 2021 revenue of $951 million, a 16% increase year-over-year, with GAAP EPS of $1.41 and non-GAAP EPS of $1.59. Strong demand in both Test and Industrial Automation products drove the company's eighth consecutive quarter of double-digit revenue and profit growth. The company expects Q4 2021 sales to increase over 10% from Q4 2020.
Revenue reached $951 million, up 16% from Q3 2020 and 63% from Q3 2019.
GAAP gross margin was 60%, increasing from 56% in Q3 2020 and 59% in Q3 2019.
GAAP earnings per share grew 17% from Q3 2020 and 88% from Q3 2019.
Non-GAAP earnings per share increased 35% from Q3 2020 and 106% from Q3 2019.
Revenue by Segment
Forward Guidance
Teradyne anticipates Q4 2021 revenue to be between $820 million and $900 million, with GAAP net income per diluted share between $1.08 and $1.33 and non-GAAP net income per diluted share between $1.14 and $1.40.
Positive Outlook
- Q4’21 sales are expected to increase over 10% from Q4 2020’s record level
- Growing demand in Industrial/Automotive Test
- Growing demand in Storage Test
- Growing demand in Industrial Automation
- Full year company sales, GAAP EPS and non-GAAP EPS are expected to grow 18%, 28% and 27%, respectively, at the mid-point of our guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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