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Apr 02, 2022
Zebra Q1 2022 Earnings Report
Zebra Technologies' first quarter results announced, demonstrating solid performance in a challenging macro environment.
Key Takeaways
Zebra Technologies reported a 6.3% year-over-year increase in net sales, reaching $1,432 million. Net income decreased by 10.1% to $205 million, with diluted EPS decreasing by 9.2% to $3.83. The company reiterated its full-year 2022 sales outlook but lowered its adjusted EBITDA margin guidance due to increased supply chain costs.
Net sales increased by 6.3% year-over-year to $1,432 million.
Net income decreased by 10.1% year-over-year to $205 million.
Non-GAAP diluted EPS decreased by 16.3% year-over-year to $4.01.
Adjusted EBITDA decreased by 16.4% year-over-year to $285 million.
Revenue by Segment
Forward Guidance
The company expects second quarter 2022 adjusted net sales to increase 3% to 7% compared to the second quarter of 2021. Adjusted EBITDA margin for the second quarter of 2022 is expected to be approximately 20% to 21%. Non-GAAP earnings per diluted share are expected to be in the range of $4.05 to $4.35.
Positive Outlook
- Expects second quarter 2022 adjusted net sales to increase 3% to 7% compared to the second quarter of 2021
- Adjusted EBITDA margin for the second quarter of 2022 is expected to be approximately 20% to 21%.
- Non-GAAP earnings per diluted share are expected to be in the range of $4.05 to $4.35.
- The Company continues to expect adjusted net sales to increase 3% to 7% from 2021
- Free cash flow is now expected to be at least $800 million.
Challenges Ahead
- Assumes a net neutral impact from acquisitions and foreign currency translation.
- Adjusted EBITDA margin includes approximately $60 million of premium supply chain costs.
- Adjusted EBITDA margin is now expected to be approximately 22% to 23%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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