Teradyne, Inc. (TER) CEO Mark Jagiela on Q2 2022 Results - Earnings Call Transcript

Teradyne, Inc. (NASDAQ:TER) Q2 2022 Earnings Conference Call July 27, 2022 8:30 AM ET

Company Participants

Andy Blanchard - Vice President-Corporate Relations

Mark Jagiela - Chief Executive Officer

Greg Smith - President

Sanjay Mehta - Chief Financial Officer

Conference Call Participants

Vivek Arya - Bank of America

Toshiya Hari - Goldman Sachs

Samik Chatterjee - JPMorgan

C.J. Muse - Evercore ISI

Brian Chin - Stifel

Sidney Ho - Deutsche Bank

Joseph Moore - Morgan Stanley

Krish Sankar - Cowen

Mehdi Hosseini - SIG

Operator

[Abrupt Start] 2022 Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to Andy Blanchard. Please go ahead.

Andy Blanchard

Thank you, Latif. 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 second quarter, along with our outlook for the third quarter of 2022. Press release containing our second 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 the website.

Looking ahead, between now and our next earnings call, Teradyne expects to participate in technology or industrial-focused investor conferences hosted by KeyBanc, Davidson, Jefferies, Deutsche Bank, Citi, Evercore, Piper Sandler and Goldman Sachs.

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 third quarter. We'll then answer your questions, and this call is scheduled for one hour. Mark?