{"id":563410,"date":"2022-07-27T12:08:24","date_gmt":"2022-07-27T16:08:24","guid":{"rendered":"https:\/\/www.therobotreport.com\/?p=563410"},"modified":"2022-07-27T12:35:09","modified_gmt":"2022-07-27T16:35:09","slug":"teradynes-robotics-group-101m-q2-2022","status":"publish","type":"post","link":"https:\/\/www.therobotreport.com\/teradynes-robotics-group-101m-q2-2022\/","title":{"rendered":"Teradyne\u2019s robotics group makes $101M in Q2"},"content":{"rendered":"<div id=\"attachment_563101\" style=\"width: 1010px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-563101\" class=\"size-full wp-image-563101\" src=\"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2022\/06\/ur20-cobot-universal-robots.jpg\" alt=\"UR20 cobot Universal Robots\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2022\/06\/ur20-cobot-universal-robots.jpg 1000w, https:\/\/www.therobotreport.com\/wp-content\/uploads\/2022\/06\/ur20-cobot-universal-robots-300x200.jpg 300w, https:\/\/www.therobotreport.com\/wp-content\/uploads\/2022\/06\/ur20-cobot-universal-robots-150x100.jpg 150w, https:\/\/www.therobotreport.com\/wp-content\/uploads\/2022\/06\/ur20-cobot-universal-robots-768x512.jpg 768w, https:\/\/www.therobotreport.com\/wp-content\/uploads\/2022\/06\/ur20-cobot-universal-robots-357x238.jpg 357w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><p id=\"caption-attachment-563101\" class=\"wp-caption-text\">The new UR20 cobot features a 20 kg payload and 30% more speed and torque compared to other UR cobots. | Credit: Universal Robots<\/p><\/div>\n<p><a href=\"http:\/\/www.therobotreport.com\/tag\/teradyne\">Teradyne<\/a>&#8216;s industrial automation group generated $101 million in revenue for the second quarter of 2022. The group&#8217;s revenue grew 10% from Q2 2021 and 19% for the first half. Revenue declined slightly from the <a href=\"https:\/\/www.therobotreport.com\/growth-in-welding-us-sales-drive-teradyne-robotics-group-q1\/\">$103 million generated in the first quarter of 2022<\/a>.<\/p>\n<p>Teradyne&#8217;s industrial automation group consists of <a href=\"https:\/\/www.therobotreport.com\/tag\/autoguide-mobile-robots\/\">AutoGuide Mobile Robots<\/a>, <a href=\"https:\/\/www.therobotreport.com\/tag\/energid\">Energid<\/a>, <a href=\"https:\/\/www.therobotreport.com\/tag\/mobile-industrial-robots\/\">Mobile Industrial Robots<\/a> (MiR) and <a href=\"https:\/\/www.therobotreport.com\/tag\/universal-robots\/\">Universal Robots<\/a> (UR). Energid&#8217;s revenue is included with UR&#8217;s and AutoGuide is still being revamped.<\/p>\n<p>As always, UR led the group with $83 million in revenue during Q2 2022. That is up 8% year-over-year, with the highest growth in Northern Europe, but down slightly from the record $85 million the collaborative robotic arm pioneer generated in Q1 2022. MiR sales were $17 million for the quarter, which is up 9% from Q2 2021 in the quarter, but flat compared to the <a href=\"https:\/\/www.therobotreport.com\/growth-in-welding-us-sales-drive-teradyne-robotics-group-q1\/\">$17 million generated in Q1 2022<\/a>.<\/p>\n<p>Greg Smith, <a href=\"https:\/\/www.therobotreport.com\/greg-smith-named-teradyne-president\/\">named president of Teradyne on July 1, 2022<\/a>, said growth has been slower than planned for the first half of 2022. He attributed this to two main factors.<\/p>\n<p>&#8220;The first factor was foreign exchange,&#8221; he said during <a href=\"https:\/\/investors.teradyne.com\/events-presentations\" target=\"_blank\" rel=\"noopener\">Teradyne&#8217;s earnings call<\/a>. &#8220;The majority of [industrial automation] revenue is linked to the Euro. For example, within Europe, at UR, we saw a robust 34% unit growth in the first half of 2022, but the decline of the Euro with respect to the dollar has muted UR revenue growth in that region to 20%.<\/p>\n<div align=\"center\">\n<p><iframe loading=\"lazy\" title=\"Modula &amp; MiR: automatic storage systems and autonomous mobile robots. How do they work together?\" width=\"740\" height=\"416\" src=\"https:\/\/www.youtube.com\/embed\/ETCOP5H_-HI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<\/div>\n<p>&#8220;The second factor is lower regional demand that can be traced to a variety of region-specific causes, including COVID lockdowns in China and distribution partner staff shortages in North America where end demand remains quite strong.&#8221;<\/p>\n<p>Teradyne CEO Mark Jagiela said the company is forecasting its industrial automation business to grow at about a 20% year-over-year level during the second half of 2022. That is below the company&#8217;s original 35% goal.<\/p>\n<p>&#8220;As Greg highlighted, we believe that China demand will remain muted,&#8221; Jagiela said during the earnings call. &#8220;Distributor labor shortages in North America will limit the rate of installation expansion in the short-term and FX headwinds will not abate.&#8221;<\/p>\n<p>In June 2022, <a href=\"https:\/\/www.therobotreport.com\/meet-ur20-universal-robots-fastest-strongest-cobot-ever\/\">UR introduced its UR20 cobot arm<\/a>, the Danish company\u2019s fastest and strongest cobot arm ever. The UR20 is expected to be available for pre-order in late Q4 2022 and will begin shipping in Q2 2023 for an undisclosed price. Anders Beck, VP of innovation and strategy at UR, discussed on <em>The Robot Report Podcast<\/em> how the UR20 was designed from the ground up and how a new joint design drives the UR20\u2019s performance. You can listen to the interview with Beck below, starting at the 28:39 mark.<\/p>\n<div align=\"center\">\n<p><iframe loading=\"lazy\" title=\"Anders Beck introduces the UR20; California bans autonomous tractors by The Robot Report Podcast\" width=\"740\" height=\"400\" scrolling=\"no\" frameborder=\"no\" src=\"https:\/\/w.soundcloud.com\/player\/?visual=true&#038;url=https%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F1293896446&#038;show_artwork=true&#038;maxheight=1000&#038;maxwidth=740\"><\/iframe><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Revenue declined slightly from the $103 million generated in the first quarter of 2022.<\/p>\n","protected":false},"author":165,"featured_media":563101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rbr50_analysis":"","rbr50_state":"","rbr50_country":"","rbr50_description":"","rbr50_numemps":"","rbr50_text_taxonomy_radio":"","rbr50_text_taxonomy_select":"","rbr50_url":"","rbr50_yearfounded":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"footnotes":""},"categories":[2013,1349,3503,3502,1401,2012],"tags":[2242,2066,55],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Teradyne\u2019s robotics group makes $101M in Q2<\/title>\n<meta name=\"description\" content=\"Teradyne&#039;s industrial automation group generated $101 million in 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