Equity Profile

TER

Teradyne, Inc.

Information TechnologySemiconductor Materials & Equipment$64.2B

Jul29Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Teradyne, Inc. is a leading provider of automation equipment for the semiconductor industry, focusing on test and measurement solutions....

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

Expected to be around $2.56

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and meet demand in a competitive environment.

Not available

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

TER Q2-2026 Earnings Preview

Context

Company Snapshot

Teradyne, Inc. is a leading provider of automation equipment for the semiconductor industry, focusing on test and measurement solutions. As a key player in the Information Technology sector, Teradyne's performance is closely tied to trends in semiconductor demand, which are influenced by advancements in AI, cloud computing, and consumer electronics.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+15.58%

Avg Stock Reaction

-1.43%

Last Quarter Recap

In Q1 2026, Teradyne reported an EPS of $2.56, exceeding expectations by 21.44%. However, the stock reacted negatively, dropping 5.44% the following day.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to innovation in semiconductor testing technology.
Plans to enhance customer engagement and support.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Teradyne's upcoming earnings, given its strong track record of beating EPS estimates. However, concerns about revenue growth and market conditions may temper enthusiasm.

Bull Case

If Teradyne can continue its trend of strong EPS surprises and show solid revenue growth, it could signal robust demand in the semiconductor sector, driving the stock higher.

Bear Case

Conversely, if the company fails to meet revenue expectations or if margins decline, it could lead to a significant sell-off, especially given the high implied volatility in options.

Key Metrics to Watch

EPS (Earnings Per Share)

Expected to be around $2.56

EPS is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

Revenue Growth

Not available

Revenue growth reflects the company's ability to expand its market presence and meet demand in a competitive environment.

Gross Margin

Not available

Gross margin will provide insights into the company's pricing power and cost management strategies.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the revenue growth rate be compared to last quarter?

Revenue growth is crucial for assessing the company's ability to capitalize on market demand, especially in a competitive semiconductor landscape.

How will gross margins be impacted by current market conditions?

Understanding margin trends will provide insights into cost management and pricing strategies, which are vital for profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Teradyne's ability to leverage its technological advancements in semiconductor testing, which could lead to stronger-than-expected revenue growth.

Supporting Evidence

Teradyne has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing a larger move than historical averages, suggesting traders expect significant developments.

Recent trends in semiconductor demand may not be fully reflected in current estimates.

Key Risk

If revenue growth exceeds expectations significantly, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Teradyne can sustain its profitability amidst fluctuating demand in the semiconductor industry.

Bull Confirmed If

Revenue growth of at least 10% year-over-year would confirm strong demand and operational efficiency.

Bear Confirmed If

A decline in gross margins below 50% would raise concerns about cost pressures and pricing power.

Pre-Earnings Positioning

Options Market

Implied Move

±14.39%

Historical Avg

±2.3%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±14.4% while TER has averaged ±2.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.8%

30d HV

95.8%

Calls (176K)P/C Ratio: 0.35Puts (86K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Teradyne beats expectations and raises guidance, history suggests the stock could see a positive reaction of around 2.33% on the first day.

In-Line / Cautious

If results are in line but management expresses caution, the stock may experience muted movement as investors digest the commentary.

Miss

Should the company miss expectations, history suggests a potential downside of around 2.33%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches in semiconductor testing.
2Insights into customer demand trends in the semiconductor market.
3Management's outlook on operational efficiency improvements.
4Comments on competitive pressures and pricing strategies.
5Guidance on future revenue expectations.

See the full picture

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Company Snapshot

Teradyne, Inc. is a leading provider of automation equipment for the semiconductor industry, focusing on test and measurement solutions....

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

Expected to be around $2.56

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and meet demand in a competitive environment.

Not available

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

TER Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+15.58%

Avg Stock Reaction

-1.43%

Last Quarter Recap

In Q1 2026, Teradyne reported an EPS of $2.56, exceeding expectations by 21.44%. However, the stock reacted negatively, dropping 5.44% the following day.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to innovation in semiconductor testing technology.
Plans to enhance customer engagement and support.

Expectations

Wall Street Expectations

Bull Case

If Teradyne can continue its trend of strong EPS surprises and show solid revenue growth, it could signal robust demand in the semiconductor sector, driving the stock higher.

Bear Case

Conversely, if the company fails to meet revenue expectations or if margins decline, it could lead to a significant sell-off, especially given the high implied volatility in options.

Key Metrics to Watch

EPS (Earnings Per Share)

Expected to be around $2.56

EPS is a critical measure of profitability and will indicate how well the company is managing costs and generating income.

Revenue Growth

Not available

Revenue growth reflects the company's ability to expand its market presence and meet demand in a competitive environment.

Gross Margin

Not available

Gross margin will provide insights into the company's pricing power and cost management strategies.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the revenue growth rate be compared to last quarter?

Revenue growth is crucial for assessing the company's ability to capitalize on market demand, especially in a competitive semiconductor landscape.

How will gross margins be impacted by current market conditions?

Understanding margin trends will provide insights into cost management and pricing strategies, which are vital for profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Teradyne's ability to leverage its technological advancements in semiconductor testing, which could lead to stronger-than-expected revenue growth.

Supporting Evidence

Teradyne has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing a larger move than historical averages, suggesting traders expect significant developments.

Recent trends in semiconductor demand may not be fully reflected in current estimates.

Key Risk

If revenue growth exceeds expectations significantly, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Teradyne can sustain its profitability amidst fluctuating demand in the semiconductor industry.

Bull Confirmed If

Revenue growth of at least 10% year-over-year would confirm strong demand and operational efficiency.

Bear Confirmed If

A decline in gross margins below 50% would raise concerns about cost pressures and pricing power.

Pre-Earnings Positioning

Options Market

Implied Move

±14.39%

Historical Avg

±2.3%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±14.4% while TER has averaged ±2.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.8%

30d HV

95.8%

Calls (176K)P/C Ratio: 0.35Puts (86K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Teradyne beats expectations and raises guidance, history suggests the stock could see a positive reaction of around 2.33% on the first day.

In-Line / Cautious

If results are in line but management expresses caution, the stock may experience muted movement as investors digest the commentary.

Miss

Should the company miss expectations, history suggests a potential downside of around 2.33%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches in semiconductor testing.
2Insights into customer demand trends in the semiconductor market.
3Management's outlook on operational efficiency improvements.
4Comments on competitive pressures and pricing strategies.
5Guidance on future revenue expectations.