Teradyne, Inc. (NASDAQ:TER) Q3 2023 Earnings Call Transcript October 26, 2023 8:30 AM ET

Company Participants

Andy Blanchard - VP of Corporate Relations

Greg Smith - CEO

Sanjay Mehta - CFO

Conference Call Participants

Tim Arcuri - UBS

Krish Sankar - TD Cowen

Mehdi Hosseini - SIG

Samik Chatterjee - JPMorgan

Vivek Arya - Bank of America

Toshiya Hari - Goldman Sachs

Brian Chin - Stifel

Joe Moore - Morgan Stanley

Steve Barger - KeyBanc Capital Markets

Operator

Greetings. Welcome to the Teradyne Q3 2023 Earnings Call and Webcast. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.

I will now turn the conference over to your host, Andy Blanchard, you may begin.

Andy Blanchard

Thank you, and 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 2023's third quarter along with our outlook for the fourth quarter. The press release containing our third quarter results was issued last evening. We are providing slides on the Investor page of the website that may be helpful to you in following the discussion. Replays of this call will be available via the same page after the call ends.

The matters that we discuss today will include forward-looking statements that involve risk factors that could cause Teradyne's results to differ materially from management's current expectations. We encourage you to review the safe harbor statement contained in the earnings release as well as our most recent SEC filings. Additionally, those forward-looking statements are made as of today, and we take no obligation to update them as a result of developments occurring after this call.

During today's call, we'll make reference to non-GAAP financial measures. We've posted additional information concerning these non-GAAP financial measures, including reconciliation to the most directly-comparable GAAP financial measures were available on the Investor page of our website.

Looking ahead, between now at our next earnings call, Teradyne expects to participate in technology or industrial-focused investor conferences hosted by Baird, UBS and Wolfe Research.

Now, let's get on with the rest of the agenda. First, Greg will comment on our recent results and the market conditions as we enter the fourth quarter. Sanjay will then offer more details on our quarterly results, along with our guidance for the fourth quarter. We'll then answer your questions. And this call is scheduled for one hour. Greg?