Press release
Zebra Technologies Announces Second-Quarter 2024 Results
Second-Quarter Financial Highlights Net sales of $1,217 million; year-over-year increase of 0.2% Net income of $113 million and net income per diluted share
About this update from Zebra Technologies Corporation
[{"type":"text","content":"\nSecond-Quarter Financial Highlights\n\n\n\nNet sales of $1,217 million; year-over-year increase of 0.2%\n\n\n\nNet income of $113 million and net income per diluted share of $2.17\n\n\n\nNon-GAAP diluted EPS decreased year-over-year to $3.18\n\n\n\nAdjusted EBITDA decreased year-over-year to $250 million\n\n\n\nOn track with $120 million annualized net expense savings from our Exit and Restructuring plans\n\n\n\n LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--\nZebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge, today announced results for the second quarter ended June 29, 2024.\n\n\n“Our teams executed well during the quarter, enabling us to deliver sales and earnings results above the high end of our guidance ranges. We returned to growth in enterprise mobile computing across all our vertical end markets and delivered another quarter of sequential improvement in profitability as a result of our continued cost discipline and improved gross margin,” said Bill Burns, Chief Executive Officer of Zebra Technologies.\n\n\n“Our increased full year outlook reflects our second quarter performance and early signs of momentum in demand led by mobile computing, balanced with continued cautious customer spending behavior, particularly for large orders, which have not yet returned to historical levels. We continue to be well positioned to advance our industry leadership with our innovative solutions that digitize & automate our customers’ workflows across the supply chain.”\n\n\n\n\n$ in millions, except per share amounts\n\n\n\n\n\n\n \n\n\n\n\n\n\n2Q24\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2Q23\n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n\n\nSelect reported measures:\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,217\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,214\n\n\n\n\n\n\n \n\n\n\n\n\n\n0.2\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nGross profit\n\n\n\n\n\n\n \n\n\n\n\n\n\n589\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n581\n\n\n\n\n\n\n \n\n\n\n\n\n\n1.4\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n48.4\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n47.9\n\n\n\n\n\n\n%\n\n\n\n\n\n\n50 bps\n\n\n\n\n\n\n\n\nNet income\n\n\n\n\n\n\n \n\n\n\n\n\n\n113\n\n...