ZBRA - Zebra Technologies Non-GAAP EPS of $3.29 in-line revenue of $1.21B misses by $100M

2023-08-01 06:35:07 ET

• Zebra Technologies press release ( NASDAQ: ZBRA ): Q2 Non-GAAP EPS of $3.29 in-line.
• Revenue of $1.21B (-17.3% Y/Y) misses by $100M .
• The company expects Q3 net sales to decrease between 30% and 35% compared to the prior year; Adjusted EBITDA margin to be between 10% and 12%; Non-GAAP diluted earnings per share in the range of $0.60 to $1.00; an adjusted effective tax rate of approximately 18%.

• For FY2023, the company expects net sales to decrease between 20% and 23% compared to 2022; Adjusted EBITDA margin is expected to be approximately 18%; Free cash flow is expected to be positive for the second half of the year and negative for the full year reflecting lower profitability and elevated inventory, higher cash taxes and is inclusive of the anticipated $180 million of previously-announced settlement payments.

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