Teradyne, Inc. (NASDAQ:TER) Q4 2023 Earnings Conference Call January 31, 2024 8:30 AM ET

Company Participants

Andy Blanchard - Vice President, Corporate Communications

Greg Smith - Chief Executive Officer

Sanjay Mehta - Chief Financial Officer

Conference Call Participants

Mehdi Hosseini - SIG

Timothy Arcuri - UBS

C.J. Muse - Cantor Fitzgerald

Vivek Arya - Bank of America Securities

Krish Sankar - TD Cowen

Brian Chin - Stifel

Samik Chatterjee - JPMorgan

Toshiya Hari - Goldman Sachs

Operator

Greetings. Welcome to Teradyne’s Fourth Quarter 2023 Earnings Call and Webcast. [Operator Instructions] Please note this conference is being recorded. At this time, I’ll now turn the conference over to Andy Blanchard, Vice President, Corporate Communications. Mr. Blanchard, you may begin.

Andy Blanchard

Good morning, everyone and welcome to our discussion of Teradyne’s most recent financial results. I am joined this morning by our CEO, Greg Smith; and our CFO, Sanjay Mehta. Following our opening remarks, we will provide details of our performance for 2023’s fourth quarter and full year, along with our outlook for the first quarter of 2024.

The press release containing our fourth quarter results was issued last evening. We are providing slides on the Investor page of the website that maybe 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.

And 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 will make reference to non-GAAP financial measures. We have posted additional information concerning these non-GAAP financial measures, including reconciliation to the most directly comparable GAAP measures, where available on the Investor page of our website.

Looking ahead between now and our next earnings call, Teradyne expects to participate in technology or industrial-focused investor conferences hosted by Wolfe Research, Citi, Susquehanna and Morgan Stanley.

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 new year. Sanjay will then offer more details on our quarterly results, along with our guidance for the first quarter. We’ll then answer your questions and this call is scheduled for 1 hour. Greg?