Teradyne, Inc. (TER) Q3 2022 Earnings Call Transcript

Teradyne, Inc. (NASDAQ:TER) Q3 2022 Earnings Conference Call October 26, 2022 8:30 AM ET

Company Participants

Andy Blanchard – Vice President-Investor Relations

Mark Jagiela – Chief Executive Officer

Greg Smith – President

Sanjay Mehta – Chief Financial Officer

Conference Call Participants

Krish Sankar - Cowen

CJ Muse – Evercore ISI

Timothy Arcuri – UBS

Samik Chatterjee – JPMorgan

Mehdi Hosseini – SIG

Vivek Arya – Bank of America

Joe Moore – Morgan Stanley

Atif Malik – Citi

Operator

Hello and thank you for standing by. Welcome to the Teradyne Q3 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions]

It is now my pleasure to introduce Vice President of Investor Relations, Andy Blanchard.

Andy Blanchard

Thank you, Andrew. Good morning, everyone, and welcome to our discussion of Teradyne’s most recent financial results. I’m joined this morning by our CEO, Mark Jagiela; President, Greg Smith; and our CFO, Sanjay Mehta. Following our opening remarks, we’ll provide details of our performance for 2022’s third quarter along with our outlook for the fourth quarter of 2022. The press release containing our third quarter results was issued last evening.

We’re 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 measure were 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 Baird, Credit Suisse and UBS. Now let’s get on with the rest of the agenda. First, Mark and Greg will comment on our recent results and the market conditions as we enter the new quarter. Sanjay will then offer more details on our quarterly results along with our guidance for the fourth quarter.