Teradyne beats by $0.17, beats on revs; guides Q1 EPS below consensus, revs below consensus; authorizes $2.0 bln for share repurchases
5:20 PM ET 1/25/23 | Briefing.com
Reports Q4 (Dec) earnings of $0.92 per share, excluding non-recurring items, $0.17 better than the S&P Capital IQ Consensus of $0.75; revenues fell 17.3% year/year to $731.84 mln vs the $711.84 mln S&P Capital IQ Consensus. Co issues downside guidance for Q1, sees EPS of $0.28-0.52, excluding non-recurring items, vs. $0.57 S&P Capital IQ Consensus; sees Q1 revs of $550-630 mln vs. $636.93 mln S&P Capital IQ Consensus.Co added, "We expect a step down in demand in our Semiconductor and Storage Test markets which will persist at least through the first half of the year as device manufacturers adjust their production to rebalance supply, demand, and inventory levels. This near-term slow-down is consistent with past industry cycles and we believe the long-term drivers of test demand remain firmly in place supported by expanding applications for complex semiconductor devices in compute, mobility, automotive and across the global economy."The Board also authorized a $2 billion share repurchase program and the company expects to repurchase up to $500 million of its common stock in 2023.
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