Zebra Technologies Guides Q1 Well Above View As Q4 Results Top Estimates

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, Zebra Technologies Corp. (ZBRA) provided its adjusted earnings and net sales growth guidance for the first quarter, well above analysts' estimates. The company also initiated net sales growth outlook for the full-year 2024.

For the first quarter, the company expects adjusted earnings in a range of $2.30 to $2.60 per share on net sales decline of 17 to 20 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.08 per share on a net sales decline of 23.7 percent to $1.07 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company projects net sales to be between a 1 percent decline and 3 percent growth. The Street is looking for revenues growth of 0.2 percent to $4.59 billion for the year.

For the fourth quarter, the company reported net income of $17 million or $0.31 per share, sharply down from $186 million or $3.57 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter were $1.71 per share, compared to $4.75 per share in the year-ago quarter.

Total net sales for the quarter declined 32.9 percent to $1.01 billion from $1.50 billion in the same quarter last year. Organic net sales decline was 33.1 percent.

Analysts expected earnings of $1.66 per share on net sales of $999.36 million for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com