Zebra Technologies Corporation Earnings Recaps
Q2 2026
Aug 6, 2026
Zebra’s shares gained 26.5% following a quarter that materially surpassed expectations, driven by broad-based growth, margin expansion, and a raised full-year outlook, signaling strong investor confidence in the sustainability of demand and profitability.
Key takeaways
- Revenue surpassed $1.5 billion, up over 20% year-over-year, with 9% organic growth excluding acquisitions.
- Adjusted EBITDA margin expanded to 27.7%, including $73 million tariff recovery; excluding tariffs, margin still improved by 2 points on stronger gross margins and operating leverage.
- Non-GAAP EPS rose 76% year-over-year to $6.35, reflecting both improved profitability and operating efficiency.
- Retail, manufacturing, and healthcare end markets all delivered strong double-digit growth; healthcare was the highest growth segment.
- The company raised full-year guidance based on sustained demand and margin momentum, supported by large deal pipeline visibility into 2027.
Q1 2026
May 13, 2026
Zebra Technologies’ shares surged 11.4% following a solid quarter driven by better-than-expected sales growth, margin expansion, and an upbeat outlook supported by strong demand and operational execution.
Key takeaways
- Reported sales of nearly $1.5 billion, up 14% year-over-year and 4% organically, signaling sustained demand across segments and geographies.
- Adjusted EBITDA margin expanded 90 basis points to 23.2%, reflecting a multiyear high gross margin and effective operating expense leverage.
- Non-GAAP diluted EPS increased 18% to $4.75, highlighting profitable growth.
- Strong cash flow generation enabled $500 million in share repurchases year-to-date, underscoring financial strength and capital return discipline.
- Management raised full-year guidance, citing momentum in demand and progress navigating supply constraints.
Q3 2025
Oct 28, 2025
Zebra Technologies reported strong third-quarter results, with sales reaching $1.3 billion, representing a 5% year-over-year increase, alongside improved operational efficiencies driving double-digit earnings growth.
Key takeaways
- Adjusted EBITDA margin rose to 21.6%, reflecting a 20 basis point improvement year-over-year.
- Non-GAAP diluted EPS of $3.88 increased 11% YoY, exceeding market expectations.
- Sales growth was driven by strong demand in North America and Asia Pacific, particularly in mobile computing and RFID segments.
- Zebra plans $500 million in share repurchases over the next 12 months, reflecting confidence in long-term value creation.
- The company anticipates Q4 sales growth of 8% to 11%, bolstered by recent acquisitions and favorable currency effects.