Zebra Technologies ( (ZBRA) ) has realeased its Q3 earnings. Here is a breakdown of the information Zebra Technologies presented to its investors.
Zebra Technologies Corporation, a leader in digital solutions that help businesses connect data, assets, and people across various sectors, has announced its financial results for the third quarter of 2024, showcasing significant growth and strategic advancements.
In the third quarter of 2024, Zebra Technologies reported a robust financial performance with net sales reaching $1,255 million, marking a 31.3% increase compared to the previous year. The company’s net income soared to $137 million, up from a net loss in the prior year, with a net income per diluted share of $2.64. Non-GAAP diluted EPS also saw a notable rise to $3.49. The company achieved an adjusted EBITDA of $268 million, demonstrating significant year-over-year growth.
Key highlights include a 43.6% increase in gross profit to $613 million, driven by higher gross margins and a 30.6% organic net sales growth. Zebra Technologies successfully completed its Exit and Restructuring Plans, achieving $120 million in annualized net expense savings, which contributed to a decrease in operating expenses. These strategic moves have positioned the company well for future growth in the Enterprise Visibility & Mobility and Asset Intelligence & Tracking segments.
Looking ahead, Zebra Technologies has raised its full-year outlook for profitable growth, expecting continued demand momentum. The company anticipates fourth-quarter sales growth between 28% and 31%, with a favorable foreign currency impact. The adjusted EBITDA margin is expected to reach approximately 22%, and free cash flow for the full year is projected to be at least $850 million.
Zebra’s strategic focus on innovation and restructuring efforts have bolstered its financial health and competitive standing, positioning it for sustained leadership and growth in the industry through its cutting-edge solutions that optimize customer workflows.
