ZBRA - Zebra Technologies jumps 9% on Q3 estimates beat

Zebra Technologies (ZBRA +8.6%) rallies 9% after beating Q3 estimates, reporting revenue growth of 27.4% Y/Y to $1.44B. Consolidated organic net sales increased 23.2% Y/Y, Q3 Y/Y organic net sales increased by 27.9% in the EVM segment and increased by 12.1% in the AIT segment. Adjusted gross margin improved 130 bps 45.1%, due to favourable business mix as well as higher service and software margin. Adjusted EBITDA increased 35.7% Y/Y to $312M, improving its margin by 140 bps to 21.7%. As of Oct. 2, 2021, the company had cash and cash equivalents of $307M and total debt of $996M. For the 9 months of 2021, the Co. made net debt repayments of $256M. The Co. made $25M of share repurchases in the 9 months under its existing authorization. “Our balance sheet remains strong. From a debt leverage perspective, we ended Q3 at a modest 0.5 times net debt to adj. EBITDA leverage ratio, which

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Zebra Technologies jumps 9% on Q3 estimates beat