Teradyne 8-K
PositiveEarningsNew guidance
AI demand across memory, HDD test and robotics drives 70% Y/Y revenue growth, with record sales in Memory and Integrated Systems Test.
Filed 2026-10-28 06:00 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Teradyne reported Q3 2026 results and Q4 guidance. Revenue rose 70% Y/Y and earnings more than 150%, exceeding the high end of Q3 guidance, as AI-related demand extended across memory and hard-disk-drive test, high-speed interconnect and robotics. Memory and Integrated Systems Test each had record revenue; Robotics posted its highest third-quarter revenue and was profitable.
Key Figures
| Metric | Q3 2026 |
|---|---|
| Revenue | $1.31B, +70% Y/Y |
| Gross margin, GAAP | 59.1%, vs 58.4% |
| Operating income, GAAP | $402M, +177% Y/Y |
| Net income attributable to Teradyne, GAAP | $342M, +186% Y/Y |
| Net income attributable to Teradyne, non-GAAP | $360M, +165% Y/Y |
| Diluted EPS, GAAP | $2.17, vs $0.75 |
| Diluted EPS, non-GAAP | $2.29, vs $0.85 |
| Operating cash flow | $314M, +539% Y/Y |
| Free cash flow, calculated as operating cash flow less property and equipment purchases | $227M, vs $2.36M |
- Segment revenue was $1.07B in Semiconductor Test, $138M in Product Test and $96M in Robotics; the company attributed momentum to demand across the AI value chain.
- Teradyne repurchased $99.3M of stock in Q3, versus $244M a year earlier. Weighted-average diluted shares were 157.5M, down from 159.1M Y/Y.
- Cash and cash equivalents were $461M at 9/27/2026; short-term debt was zero, versus $200M at 12/31/2025.
Against earlier guidance (derived from earlier filings)
| Metric | Period | Earlier guidance | Actual | Result |
|---|---|---|---|---|
| Revenue | Q3 2026 | $1.2B-$1.3B | $1.31B | in line |
| Net income attributable to Teradyne per diluted share, GAAP | Q3 2026 | $1.79-$2.09 | $2.17 | beat |
| Net income attributable to Teradyne per diluted share, non-GAAP | Q3 2026 | $1.85-$2.15 | $2.29 | beat |
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Revenue | Q4 2026 | $1.25B-$1.35B | — | — |
| GAAP net income attributable to Teradyne per diluted share | Q4 2026 | $1.88-$2.18 | — | — |
| Non-GAAP net income attributable to Teradyne per diluted share | Q4 2026 | $1.95-$2.25 | — | — |
Investor Takeaways
- Q4 revenue versus the $1.25B-$1.35B outlook will test whether demand across AI-related test markets continues.
- Watch whether Robotics sustains profitability after its record third-quarter revenue.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-28 14:40:35Z