ZBRA - Why Zebra Technologies Stock Dropped Today
2023-05-02 11:33:47 ET
Shares of Zebra Technologies (NASDAQ: ZBRA) fell on Tuesday after management reported financial results and lowered its guidance for the rest of the year. As of 10:10 a.m. ET, Zebra Technologies' stock was down almost 10%.
Known mostly for its barcode printers and scanners, Zebra Technologies makes hardware and software for warehouse management, product tracking, and more. In the first quarter of 2023, the company had net sales of $1.4 billion, down almost 2% from the prior-year period. While sales were down, the silver lining is that sales were within management's previous guidance.
Management had also given guidance for its margin for adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ). In Q1, Zebra Technologies had an adjusted EBITDA margin of 21.4%, slightly ahead of management's guidance of 21%.
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Why Zebra Technologies Stock Dropped Today