Zebra Technologies (NASDAQ:ZBRA) Posts Quarterly Earnings Results, Beats Estimates By $1.99 EPS

Zebra Technologies (NASDAQ:ZBRA) released its quarterly earnings results on Tuesday. The industrial products company reported $6.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $1.99, Briefing.com reports. Zebra Technologies had a net margin of 9.22% and a return on equity of 22.29%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business earned $3.61 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Zebra Technologies updated its Q3 2026 guidance to 4.700-4.900 EPS and its FY 2026 guidance to 20.750-21.250 EPS.

Here are the key takeaways from Zebra Technologies’ conference call:

• Record Q2 performance included sales above $1.5 billion, 9.2% organic growth, a 27.7% adjusted EBITDA margin, and non-GAAP EPS of $6.35, up 76% year over year. Results benefited from strong demand, pricing, productivity gains, and $73 million of tariff recovery.
• Zebra raised its full-year outlook to 14%–16% sales growth, 23.5%–24% adjusted EBITDA margin, $20.75–$21.25 in non-GAAP EPS, and at least $1 billion of free cash flow. Management cited broad-based momentum across regions and end markets, particularly manufacturing, healthcare, machine vision, and Elo Touch.
• Demand for Zebra’s AI, RFID, mobile computing, machine vision, and automation solutions remains strong, with management highlighting a robust multi-year transportation and logistics pipeline beginning in 2027 and a long-term organic growth profile of 5%–7% for both operating segments.
• Memory supply remains a key constraint and cost risk. Zebra expects to fully mitigate an approximately $120 million full-year memory cost headwind through price increases, supplier diversification, productivity initiatives, and restructuring savings, but expects higher memory costs to pressure third-quarter margins.
• The company repurchased $568 million of stock in the first half and expects approximately $150 million of additional buybacks in the second half, while maintaining flexibility due to its 1.9x debt leverage ratio and strong expected cash generation.

Zebra Technologies Stock Down 0.3%

Zebra Technologies stock traded down $1.05 during midday trading on Thursday, hitting $367.94. The stock had a trading volume of 149,856 shares, compared to its average volume of 869,387. The business has a fifty day moving average price of $259.94 and a 200 day moving average price of $241.63. Zebra Technologies has a 12 month low of $199.05 and a 12 month high of $376.70. The stock has a market cap of $17.52 billion, a P/E ratio of 33.62 and a beta of 1.59. The company has a current ratio of 0.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ZBRA shares. Truist Financial raised their target price on Zebra Technologies from $296.00 to $355.00 and gave the company a “hold” rating in a research note on Wednesday. Robert W. Baird raised their price objective on Zebra Technologies from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings raised Zebra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 17th. Morgan Stanley set a $360.00 target price on Zebra Technologies in a research note on Wednesday. Finally, BNP Paribas Exane restated an “outperform” rating and issued a $455.00 price target (up from $370.00) on shares of Zebra Technologies in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $381.00.

Insider Activity at Zebra Technologies

In related news, Director Janice M. Roberts sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $249.54, for a total transaction of $748,620.00. Following the sale, the director directly owned 6,183 shares of the company’s stock, valued at approximately $1,542,905.82. This represents a 32.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Loizides Melissa Luff sold 500 shares of Zebra Technologies stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $253.95, for a total transaction of $126,975.00. Following the completion of the transaction, the insider directly owned 3,702 shares of the company’s stock, valued at approximately $940,122.90. This represents a 11.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Zebra Technologies by 1.0% in the 4th quarter. State Street Corp now owns 2,263,614 shares of the industrial products company’s stock valued at $549,651,000 after buying an additional 21,488 shares during the period. Invesco Ltd. lifted its holdings in Zebra Technologies by 30.1% in the fourth quarter. Invesco Ltd. now owns 1,801,516 shares of the industrial products company’s stock worth $437,444,000 after acquiring an additional 416,568 shares during the last quarter. Boston Partners lifted its holdings in Zebra Technologies by 0.4% in the third quarter. Boston Partners now owns 1,130,117 shares of the industrial products company’s stock worth $335,940,000 after acquiring an additional 4,237 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Zebra Technologies by 28.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,096,040 shares of the industrial products company’s stock valued at $266,140,000 after acquiring an additional 244,890 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Zebra Technologies by 1,310.3% in the second quarter. Alliancebernstein L.P. now owns 779,680 shares of the industrial products company’s stock valued at $240,422,000 after acquiring an additional 724,396 shares during the period. 91.03% of the stock is currently owned by institutional investors.

Zebra Technologies Company Profile

Zebra Technologies Corporation is a global technology company specializing in marking, tracking and computer printing solutions. The company produces a wide range of hardware and software products designed to enable real-time visibility of assets, inventory and personnel across diverse industries. Its offerings help businesses automate data capture and streamline operations in environments such as retail, healthcare, manufacturing, transportation and logistics.

The company’s product portfolio includes barcode and RFID printers, mobile computing devices, barcode scanners, RFID readers and related supplies such as labels and tags.