Zebra Technologies Guides Q3 Below Estimates; Q2 Results Top Estimates
(RTTNews) - While reporting financial results for the second quarter on Tuesday, Zebra Technologies Corp. (ZBRA) provided its adjusted earnings and adjusted net sales growth guidance for the third quarter as well as raised its adjusted net sales growth outlook for the full year 2022.
For the third quarter, the company expects adjusted earnings in a range of $4.35 to $4.65 per share on adjusted net sales growth of 2 to 4 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.08 per share on net sales growth of 5.1 percent to $1.51 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2022, the company now projects adjusted net sales growth of 4 to 6 percent, compared to the prior growth forecast of 3 to 7 percent. The Street is looking for sales growth of 5.50 percent to $5.94 billion for the year.
For the second quarter, the company reported a net loss of $98 million or $1.87 per share, compared to net income of $219 million or $4.07 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter were $4.61 per share, compared to $4.57 per share in the year-ago quarter.
Net sales for the quarter grew 6.6 percent to $1.47 billion from $1.38 billion in the same quarter last year. Adjusted net sales growth was 6.4 percent and consolidated organic net sales increased 6.9 percent.
Analysts expected earnings of $4.21 per share on net sales of $1.44 billion for the quarter.
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