Zebra Technologies Corporation (ZBRA) reported second-quarter 2024 adjusted earnings of $3.18 per share, which surpassed the Zacks Consensus Estimate of $2.82. However, the bottom line fell 3.3% year over year. Total revenues of $1.22 billion surpassed the consensus estimate of $1.18 billion. The top line inched up 0.2% year over year driven by strength in Enterprise Visibility & Mobility unit. Consolidated organic net sales declined 0.3% year over year. Segmental Performance Revenues from the Asset Intelli ...

ZEBRA TECHNOLOGIES 03 Q&A Bill Burns, CEO Nathan Winters, CFO Second Quarter 2024 Summary (1) Zebra Technologies Second Quarter 2024 Results July 30, 2024 Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results may differ from those expressed or implied in the company's forward-looking statements. Zebra und ...

Mike Steele - VP, IR Bill Burns - CEO Nathan Winters - CFO Operator Mike Steele Our forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties. Actual results could differ materially and we refer you to the factors discussed in our SEC filings. Bill Burns Company Participants Damian Karas - UBS Jamie Cook - Truist Securities Tommy Moll - Stephens Joe Giordano - TD Cowen Andrew Buscaglia - BNP Meta Marshall - Morgan Stanley Brad Hewitt - Wolfe Rese ...

Zebra Technologies (ZBRA) came out with quarterly earnings of $3.18 per share, beating the Zacks Consensus Estimate of $2.82 per share. This compares to earnings of $3.29 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.77%. A quarter ago, it was expected that this producer of printers for bar codes, plastic cards and, radio-frequency identification tags would post earnings of $2.46 per share when it actually produced earni ...

Financial Performance - Net sales for Q2 2024 were $1,217 million, a slight increase of 0.2% compared to $1,214 million in Q2 2023[4] - Gross profit for Q2 2024 was $589 million, with a gross margin of 48.4%, up from 47.9% in the prior year, reflecting a 50 basis point improvement[5] - Net income for Q2 2024 decreased to $113 million, or $2.17 per diluted share, down 21.5% from $144 million, or $2.78 per diluted share, in Q2 2023[6] - Net sales for the second quarter of 2024 were $1,217 million, a year-over-year increase of 0.2%[26] - Net income for the second quarter was $113 million, with diluted earnings per share of $2.17[26] - Non-GAAP diluted earnings per share decreased year-over-year to $3.18[26] - Adjusted EBITDA for the second quarter was $250 million, representing 20.5% of adjusted net sales, down from 21.2% in the prior year[29] - Operating income for the three months ended June 29, 2024, was $167 million, down from $194 million in the same period last year, representing a decline of 13.9%[50] - Net income for the six months ended June 29, 2024, was $228 million, compared to $294 million for the same period last year, indicating a decrease of 22.4%[50] Sales and Revenue Guidance - The company expects Q3 2024 net sales to increase between 25% and 28% year-over-year, with a favorable impact from foreign currency translation[8] - Full year 2024 net sales growth guidance has been raised to between 4% and 7% compared to the prior year[9] - The Enterprise Visibility & Mobility segment reported net sales of $820 million, an 8.2% increase year-over-year, while the Asset Intelligence & Tracking segment saw a 14.4% decrease to $397 million[27] Cash Flow and Debt - Free cash flow for 2024 is now expected to be at least $700 million[10] - Free cash flow for the first six months of 2024 was $389 million, with net cash provided by operating activities of $413 million[30] - Payments of debt for the six months ended June 29, 2024, totaled $694 million, compared to $183 million in the previous year[42] - As of June 29, 2024, cash and cash equivalents were $411 million, while total debt stood at $2,183 million[7] - The company reported a cash increase of $273 million in the six months ended June 29, 2024, compared to a decrease of $49 million in the prior year[42] Operating Expenses - Operating expenses increased to $422 million from $387 million in the prior year, primarily due to incentive compensation expenses[28] - The company incurred total operating expenses of $422 million for the three months ended June 29, 2024, compared to $387 million for the same period last year, an increase of 9.0%[50] - Research and development expenses increased to $146 million for the three months ended June 29, 2024, from $130 million in the same period last year, reflecting a growth of 12.3%[50] Restructuring and Cost Savings - The company incurred total charges of $123 million related to exit and restructuring plans through Q2 2024, with an expected total of approximately $130 million[8] - The company is on track to achieve $120 million in annualized net expense savings from its Exit and Restructuring plans[31] Adjusted Metrics - Adjusted gross margin for Q2 2024 was 48.6%, an increase from 48.0% in the prior year[5] - The company expects adjusted EBITDA margin to be between 20% and 21% for the full year[32] - The company anticipates non-GAAP diluted earnings per share to be in the range of $3.00 to $3.30[32] Currency Impact - The impact of foreign currency translations on consolidated net sales was a decline of 0.9% for the three months ended June 29, 2024[43]

The Zacks Consensus Estimate for earnings has remained stable in the past 60 days. The company has a decent earnings surprise history, having outperformed the consensus estimate in three of the preceding four quarters while missing in one. The average surprise was 8.6%. Let's see how things have shaped up for Zebra Technologies this earnings season. However, weak demand for data capture and mobile computing solutions is likely to have offset the gains. The Zacks Consensus Estimate for the Enterprise Visibil ...

Growth Across Services and Software: Zebra Technologies is seeing growth across businesses. Increased units under support contracts and retail software wins are aiding sales of services and software. Increased sales of RFID products, driven by the robust demand in retail and retail apparel markets, and increased parcel tracking in transportation logistics markets and airports are aiding the company's growth. Also, Zebra Technologies has been advancing digital capabilities, optimizing the supply chain, expan ...

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Zebra Technologies Corporation (ZBRA) recently announced the pricing of its private offering of senior notes worth $500 million in aggregate principal amount. The offering is anticipated to close on May 28, 2024, conditional on certain customary closing conditions. The company's shares gained 1.6% yesterday, thereby ending the trading session at $326.98. Inside the Headlines The senior notes carry an interest rate of 6.500% and are scheduled to mature on Jun 1, 2032. Notably, the senior notes are Zebra Tech ...