Zebra Technologies Boosts FY21 Sales Outlook; Guides Q2 Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Tuesday, Zebra Technologies Corp. (ZBRA) initiated its adjusted earnings and adjusted net sales growth guidance for the second quarter as well as adjusted net sales growth outlook for the full year 2021.

For the second quarter, the company expects adjusted earnings in a range of $4.00 to $4.20 per share on adjusted net sales growth of 38 to 42 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.62 per share on net sales growth of 30.4 percent to $1.25 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2021, the company now projects adjusted net sales growth of 18 to 22 percent, up from the prior growth guidance range of 10 to 14 percent. The Street is looking for sales growth of 13.7 percent to $5.07 billion for the year.

"We enter Q2 with a strong order backlog as we see global business demand recover and customers prioritizing spending on our solutions. This momentum drives our exceptionally strong Q2 sales growth expectation, and coupled with our encouraging pipeline of business, enables us to raise our full year 2021 outlook for both sales and profitability," said Anders Gustafsson, CEO.