Zebra Q3 2024 Earnings Report
Key Takeaways
Zebra Technologies reported a strong third quarter in 2024, with net sales of $1,255 million, a 31.3% year-over-year increase. Net income was $137 million, or $2.64 per diluted share, and non-GAAP diluted EPS increased to $3.49. Adjusted EBITDA increased to $268 million. The company completed exit and restructuring actions, driving $120 million in annualized net expense savings.
Net sales increased by 31.3% year-over-year to $1,255 million.
Net income reached $137 million, with earnings per diluted share at $2.64.
Non-GAAP diluted EPS rose to $3.49.
Adjusted EBITDA increased to $268 million.
Zebra
Zebra
Zebra Revenue by Segment
Forward Guidance
The Company expects fourth quarter sales growth between 28% and 31% compared to the prior year. Fourth quarter Adjusted EBITDA margin is expected to be approximately 22%. Non-GAAP diluted earnings per share are expected to be in the range of $3.80 to $4.00. Free cash flow for the full year is expected to be at least $850 million.
Positive Outlook
- Fourth quarter sales growth between 28% and 31% compared to the prior year.
- Foreign currency translation is expected to have approximately a 1 percentage point favorable impact.
- Fourth quarter Adjusted EBITDA margin is expected to be approximately 22%.
- Non-GAAP diluted earnings per share are expected to be in the range of $3.80 to $4.00.
- Free cash flow for the full year is expected to be at least $850 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income