Zebra Q2 2023 Earnings Report
Key Takeaways
Zebra Technologies' second quarter results were impacted by softening demand and cautious customer spending, particularly in retail and logistics. However, profit margin was higher than expected, enabling the company to achieve its EPS outlook. The company is revising its outlook downward but remains confident in its ability to benefit from long-term trends.
Net sales decreased by 17.3% year-over-year to $1,214 million.
Net income was $144 million, with diluted EPS of $2.78.
Non-GAAP diluted EPS decreased year-over-year to $3.29.
Adjusted EBITDA decreased year-over-year to $257 million.
Zebra
Zebra
Zebra Revenue by Segment
Forward Guidance
The Company expects third quarter 2023 net sales to decrease between 30% and 35% compared to the prior year. Adjusted EBITDA margin for the third quarter of 2023 is expected to be between 10% and 12%. Non-GAAP diluted earnings per share are expected to be in the range of $0.60 to $1.00.
Revenue & Expenses
Visualization of income flow from segment revenue to net income