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Sep 28, 2024
Zebra Q3 2024 Earnings Report
Zebra Technologies' third quarter performance reflected excellent execution, continuing recovery in demand, strong gross margin, and the completion of restructuring actions, enabling sales and earnings results above the high end of its outlook.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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