泰瑞达发布2026年二季度业绩，收入和三季度指引均高于预期

Teradyne Reports Second Quarter 2026 Results
July 28, 2026 4:35pm EDT
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Revenue up 104% and earnings up over 300% from Q2’25
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NORTH READING, Mass.--(BUSINESS WIRE)-- Teradyne, Inc. (NASDAQ: TER):
Q2'26
Q2'25
Q1'26
Revenue (mil)
$
1,329
652
1,282
GAAP EPS
2.38
0.49
2.53
Non-GAAP EPS
2.47
0.57
2.56
Teradyne, Inc
.
(NASDAQ: TER) reported revenue of $1,329 million for the second quarter of 2026 of which $1,122 million was in Semiconductor Test, $107 million in Product Test, and $100 million in Robotics. On a GAAP-basis, net income attributable to Teradyne for the second quarter of 2026 was $374.5 million, or $2.38 per diluted share. On a non-GAAP basis, net income attributable to Teradyne for the second quarter of 2026 was $389.0 million, or $2.47 per diluted share, which excluded acquired intangible asset amortization, restructuring and other charges, and the related tax impact on non-GAAP adjustment.
"Our strategy to capture test and robotics opportunities from wafer to AI data center has driven another record quarter. This strength became evident in the year-on-year market expansion for all three of our business groups,” said Teradyne CEO Greg Smith. “In the short term, our Q3 guidance reflects robust AI-related demand. Looking further ahead, rapid increase in wafer fab equipment investment sets the stage for continued growth in 2027 and beyond."
Guidance for the third quarter of 2026 is revenue of $1,200 million to $1,300 million, with GAAP net income attributable to Teradyne of $1.79 to $2.09 per diluted share and non-GAAP net income attributable to Teradyne of $1.85 to $2.15 per diluted share. Non-GAAP guidance excludes acquired intangible asset amortization and amortization on our investment in Technoprobe, as well as the related tax impact on non-GAAP adjustments.
Webcast
A conference call to discuss the second quarter results, along with management’s business outlook, will follow at 8:30 a.m. ET, July 29, 2026. Interested investors should access the webcast at
www.teradyne.com
and click on “Investors” at least five minutes before the call begins. Presentation materials will be available starting at 7:30 a.m. ET. A replay will be available on the Teradyne website at
www.teradyne.com/investors
Non-GAAP Results
In addition to disclosing results that are determined in accordance with GAAP, Teradyne also discloses non-GAAP results of operations that exclude certain income items and charges. These results are provided as a complement to results provided in accordance with GAAP. Non-GAAP income from operations and non-GAAP net income attributable to Teradyne excludes acquired intangible assets amortization, restructuring and other, ERP related expenses, inventory step-up, pension mark-to-market adjustment, pension actuarial gains and losses, discrete income tax adjustments, and the related tax impact on non-GAAP adjustments. GAAP requires that these items be included in determining income from operations and net income. Non-GAAP income from operations, non-GAAP net income, non-GAAP income from operations as a percentage of revenue, non-GAAP net income as a percentage of revenue, and non-GAAP net income per share are non-GAAP performance measures presented to provide meaningful supplemental information regarding Teradyne’s baseline performance before gains, losses or other charges that may not be indicative of Teradyne’s current core business or future outlook. These non-GAAP performance measures are used to make operational decisions, to determine employee compensation, to forecast future operational results, and for comparison with Teradyne’s business plan, historical operating results and the operating results of Teradyne’s competitors. Management believes each of these non-GAAP performance measures provides useful supplemental information for investors, allowing greater transparency to the information used by management in its operational decision making and in the review of Teradyne’s financial and operational performance, as well as facilitating meaningful comparisons of Teradyne’s results in the current period compared with those in prior and future periods. A reconciliation of each available GAAP to non-GAAP financial measure discussed in this press release is contained in the attached exhibits and on the Teradyne website at
by clicking on “Investor Relations” and then selecting “Financials” and the “GAAP to Non-GAAP Reconciliation” link. The non-GAAP performance measures discussed in this press release may not be comparable to similarly titled measures used by other companies. The presentation of non-GAAP measures is not meant to be considered in isolation, as a substitute for, or superior to, financial measures or information provided in accordance with GAAP.
About Teradyne
Teradyne (
NASDAQ:TER
) designs, develops, and manufactures automated test equipment and advanced robotics systems. Its test solutions for semiconductors and electronics products enable Teradyne's customers to consistently deliver on their quality standards. Its advanced robotics business includes collaborative robots and mobile robots that support manufacturing and warehouse operations for companies of all sizes. For more information, visit
teradyne.com
. Teradyne
®
is a registered trademark of Teradyne, Inc., in the U.S. and other countries.
Safe Harbor Statement
This release contains forward-looking statements including statements regarding Teradyne’s future business prospects, financial performance or position and results of operations. You can identify forward-looking statements by their use of forward-looking words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “goal” or other comparable terms. Forward-looking statements in this press release address various matters, including statements regarding Teradyne’s financial guidance. Investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements due to known and unknown risks, uncertainties, assumptions, and other factors. Such factors include, but are not limited to, macroeconomic factors and slowdowns or downturns in economic conditions generally and in the markets in which Teradyne operates; decreased or delayed product demand from one or more significant customers; a slowdown or inability in the development, delivery and acceptance of new products; the ability to grow the Robotics business; the impact of increased research and development spending; the impact of epidemics or pandemics; the impact of a supply shortage on our supply chain and contract manufacturers; the consummation and success of any mergers or acquisitions; unexpected cash needs; the business judgment of the board of directors that a declaration of a dividend or the repurchase of common stock is not in Teradyne’s best interests; changes to U.S. or global tax regulations or guidance; the impact of any tariffs or export controls imposed by the U.S. or China; the impact of U.S. Department of Commerce or other government agency regulations relating to Huawei, HiSilicon and other customers or potential customers; the impact of U.S. Department of Commerce export control regulations for certain U.S. products and technology sold to military end users or for military end-use in China; the impact of the current or future geopolitical conflicts; the impact of regulations published by the U.S. Department of Commerce relating to semiconductors and semiconductor manufacturing equipment destined for certain end uses in China.
The risks included above are not exhaustive. For a more detailed description of the risk factors associated with Teradyne, please refer to Teradyne’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. Many of these factors are macroeconomic in nature and are, therefore, beyond Teradyne’s control. We caution readers not to place undue reliance on any forward-looking statements included in this press release which speak only as to the date of this press release. Teradyne specifically disclaims any obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
TERADYNE, INC. REPORT FOR SECOND FISCAL QUARTER OF 2026
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands)
Quarter Ended
Six Months Ended
June 28,
2026
March 29,
June 29,
2025
Net revenues
1,328,990
1,282,494
651,797
2,611,484
1,337,477
Cost of revenues (exclusive of acquired intangible assets amortization shown separately below) (1)
534,372
501,545
278,785
1,035,916
549,128
Gross profit
794,618
780,949
373,012
1,575,568
788,349
Operating expenses:
Selling and administrative (2)
192,520
166,737
157,782
359,257
315,039
Engineering and development
156,284
135,561
118,382
291,845
236,570
Acquired intangible assets amortization
4,972
2,224
3,733
7,196
8,306
Restructuring and other (3)
3,032
3,425
2,372
6,457
16,887
Operating expenses
356,808
307,947
282,269
664,755
576,802
Income from operations
437,810
473,002
90,743
910,813
211,547
Interest and other (income) expense (4)
(5,809
)
7,326
(5,816
1,517
(4,037
Income before income taxes
443,619
465,676
96,559
909,296
215,584
Income tax provision
66,788
62,157
12,260
128,945
26,804
Income before equity in net earnings of affiliate
376,831
403,519
84,299
780,351
188,780
Equity in net earnings of affiliate
(1,946
(4,611
(5,927
(6,557
(11,511
Consolidated net income
374,885
398,908
78,372
773,794
177,269
Less: Net income attributable to noncontrolling interests
352
—
Net income attributable to Teradyne
374,533
773,442
Earnings per common share attributable to Teradyne
Basic
2.39
2.55
4.94
1.10
Diluted
4.91
Weighted average common shares - basic
156,470
156,410
159,967
156,440
160,734
Weighted average common shares - diluted
157,693
157,636
160,135
157,664
161,065
Cash dividend declared per common share
0.13
0.12
0.26
0.24
(1) Cost of revenues includes:
Provision for excess and obsolete inventory
3,599
4,682
7,402
8,281
12,347
Inventory step-up
118
343
560
Sale of previously written down inventory
(563
(297
(1,105
(860
(1,429
3,036
4,503
6,640
7,539
11,478
(2)
For the quarters ended June 28, 2026, March 29, 2026, and June 29, 2025, selling and administrative expenses included $2.5 million, $1.7 million, and $1.1 million, respectively, of expenses directly related to an ERP system implementation. For the six months ended June 28, 2026 and June 29, 2025, selling and administrative expenses included $4.3 million and $1.8 million, respectively, of expenses directly related to an ERP system implementation.
(3)
Restructuring and other consists of:
Acquisition and divestiture related expenses
1,532
1,699
(422
3,231
1,550
Employee severance (a)
1,404
854
2,320
2,258
13,715
Asset impairment
72
1,214
Other
96
872
402
968
408
(a)
For the six months ended June 29, 2025, employee severance relates primarily to Robotics restructuring which impacted approximately 150 employees.
(4) Interest and other includes:
Pension actuarial losses (gains)
(157
127
Loss (gain) on foreign exchange contract
(561
CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands)
December 31,
ASSETS
Current assets:
Cash and cash equivalents
349,538
293,751
Marketable securities
5,291
28,247
Accounts receivable, net
1,109,711
786,913
Inventories, net
403,297
379,552
Prepayments
468,174
427,564
Other current assets
30,011
33,273
Total current assets
2,366,022
1,949,300
Property, plant and equipment, net
634,839
562,999
Operating lease right-of-use assets, net
94,302
76,635
162,274
126,256
Deferred tax assets
289,582
275,265
Retirement plans assets
12,140
12,059
Equity method investment
514,957
537,098
Other assets
85,774
71,697
Acquired intangible assets, net
101,910
51,271
Goodwill
663,817
521,019
Total assets
4,925,617
4,183,599
LIABILITIES
Current liabilities:
Accounts payable
383,422
269,185
Accrued employees’ compensation and withholdings
220,690
254,973
Deferred revenue and customer advances
193,840
153,124
Other accrued liabilities
133,399
111,845
Operating lease liabilities
17,258
19,340
Short-term debt
200,000
Income taxes payable
164,907
106,740
Total current liabilities
1,113,516
1,115,207
Retirement plans liabilities
151,436
144,874
Long-term deferred revenue and customer advances
62,985
50,888
Deferred tax liabilities
12,929
5,378
Long-term other accrued liabilities
28,569
7,601
Long-term operating lease liabilities
82,869
63,899
Total liabilities
1,452,304
1,387,847
EQUITY
Total Teradyne shareholders' equity
3,437,162
2,795,752
Equity attributable to noncontrolling interests
36,151
Total equity
3,473,313
Total liabilities and equity
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)
Cash flows from operating activities:
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation
28,644
27,312
58,884
52,835
Stock-based compensation
20,063
16,827
41,964
32,031
1,946
5,927
6,557
11,511
Amortization
5,006
4,077
7,421
8,856
Losses (gains) on investments
(8,241
(4,450
(4,923
(1,078
Deferred taxes
(10,466
(7,187
(18,230
(14,998
Retirement plan actuarial losses (gains)
474
(317
2,760
3,168
Changes in operating assets and liabilities, net of businesses acquired:
Accounts receivable
19,841
36,443
(302,176
49,496
Inventories
(28,678
7,342
(7,852
(23,707
Prepayments and other assets
(63,670
17,230
(59,621
30,879
Accounts payable and other liabilities
136,829
27,085
121,803
17,135
(1,101
2,857
50,863
13,056
Retirement plans contributions
(1,564
(4,294
(3,098
(5,576
Income taxes
(8,272
(32,665
57,992
(19,625
Net cash provided by operating activities
469,138
182,088
734,262
343,726
Cash flows from investing activities:
Purchases of property, plant and equipment
(90,706
(50,408
(155,439
(114,429
Acquisitions of businesses, net of cash and cash equivalents acquired
(165,611
(127,378
(144,380
Purchase of investments in a business
(10,030
(2,357
(5,368
Purchases of marketable securities
(7,438
(6,396
(48,235
(17,150
Proceeds from maturities of marketable securities
159
5,223
11,069
32,603
Proceeds from sales of marketable securities
2,287
2,854
29,615
8,487
Net cash used for investing activities
(271,339
(178,462
(338,631
(240,237
Cash flows from financing activities:
Proceeds from borrowings on revolving credit facility
300,000
350,000
Repayments of borrowings on revolving credit facility
(300,000
(550,000
Dividend payments
(20,348
(19,177
(40,710
(38,584
Repurchase of common stock
(68,720
(117,398
(74,238
(274,873
Payments related to net settlement of employee stock compensation awards
(1,676
(229
(41,113
(14,954
Issuance of common stock under stock purchase and stock option plans
15,101
14,792
Net cash used for financing activities
(90,744
(136,804
(340,960
(313,619
Effects of exchange rate changes on cash and cash equivalents
539
(3,202
1,116
(3,972
(Decrease) increase in cash and cash equivalents
107,594
(136,380
55,787
(214,102
Cash and cash equivalents at beginning of period
241,944
475,632
553,354
Cash and cash equivalents at end of period
339,252
GAAP to Non-GAAP Earnings Reconciliation
(In millions, except per share amounts)
% of Net Revenues
1,329.0
1,282.5
651.8
Gross profit GAAP
794.6
59.8
%
780.9
60.9
373.0
57.2
0.0
0.1
0.3
Gross profit non-GAAP
781.0
373.3
57.3
Income from operations - GAAP
437.8
32.9
473.0
36.9
90.7
13.9
5.0
0.4
2.2
0.2
3.7
0.6
Restructuring and other (1)
3.0
3.4
2.4
ERP related expenses (2)
2.5
1.7
1.1
Income from operations - non-GAAP
448.3
33.7
480.4
37.5
98.2
15.1
Earnings per Common Share attributable to Teradyne
Net income attributable to Teradyne - GAAP
374.5
28.2
398.9
31.1
78.4
12.0
Amortization of equity method investment
7.6
0.05
7.7
7.4
0.03
0.01
0.02
Pension mark-to-market adjustment (3)
(0.2
(0.00
0.00
Exclude discrete tax adjustments
(1.7
(0.01
(9.3
0.7
(0.06
Non-GAAP tax adjustments
(1.8
Net income attributable to Teradyne - non-GAAP
389.0
29.3
2.49
402.9
31.4
2.58
91.6
14.1
GAAP and non-GAAP weighted average common shares - basic
156.5
156.4
160.0
GAAP and non-GAAP weighted average common shares - diluted
157.7
157.6
160.1
(1) Restructuring and other consists of:
1.5
(0.4
Employee severance
1.4
0.9
2.3
3.5
For the quarters ended June 28, 2026, March 29, 2026, and June 29, 2025, selling and administrative expenses included costs directly related to an ERP system implementation.
For the quarters ended June 28, 2026 and June 29, 2025, adjustments to exclude actuarial gains and losses, respectively, recognized under GAAP in accordance with Teradyne’s mark-to-market pension accounting.
Net Revenues
2,611.5
1,337.5
1,575.6
60.3
788.3
58.9
1,575.7
788.9
59.0
910.8
34.9
211.5
15.8
7.2
8.3
6.5
16.9
1.3
4.3
1.8
928.9
35.6
239.1
17.9
773.4
29.6
177.3
13.3
15.3
0.10
14.8
0.09
0.04
0.11
(0.6
(11.0
(0.07
(3.7
(0.02
(6.9
0.5
(0.04
791.9
30.3
5.06
5.02
213.2
15.9
1.33
1.32
160.7
161.1
3.2
1.6
13.7
1.2
1.0
For the six months ended June 28, 2026 and June 29, 2025, selling and administrative expenses included costs directly related to an ERP system implementation.
For the six months ended June 28, 2026, and June 29, 2025, adjustments to exclude actuarial gains and losses, respectively, recognized under GAAP in accordance with Teradyne’s mark-to-market pension accounting.
GAAP to Non-GAAP Reconciliation of Third Quarter 2026 guidance:
GAAP and non-GAAP third quarter revenue guidance:
$1,200 million
to
$1,300 million
GAAP net income attributable to Teradyne per diluted share
1.79
2.09
Exclude acquired intangible assets amortization
Exclude equity method investment amortization
Non-GAAP net income attributable to Teradyne per diluted share
1.85
2.15
For press releases and other information of interest to investors, please visit Teradyne’s homepage at
http://www.teradyne.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20260728522201/en/
For more information:
Amy McAndrews
Investor Relations
Tel 978.370.3945
Investor.relations@teradyne.com
Source: Teradyne, Inc.
Released July 28, 2026