ZBRA - Is Zebra Technologies a Buy After Tuesday's Deep Dip?
2023-08-02 11:27:00 ET
The latest business report from Zebra Technologies (NASDAQ: ZBRA) had its highs and lows, akin to a zebra's distinctive black and white stripes.
The downsides were hard to ignore. The company expected sales of approximately $1.32 billion, roughly 10% below the year-ago quarter. But clients in the retail and logistics sectors ordered fewer barcode readers, supplies, and support services than expected because of the ongoing economic pressure.
So top-line sales in the second quarter fell 17% to $1.21 billion instead, with painful ripple effects across the income and cash flow statements. Adjusted earnings landed at $3.29 per diluted share , 29% below the second quarter of 2022 and a penny below the midpoint of management's guidance range.
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Is Zebra Technologies a Buy After Tuesday's Deep Dip?