NASDAQ$ZBRA
Zebra Technologies Corp. · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Announced third-quarter 2022 results, impacted by supply chain challenges and deferred customer projects.
Zebra Technologies reported net sales of $1,378 million, a 4.0% year-over-year decrease. Net income was $170 million, with a non-GAAP diluted EPS of $4.12, a 9.5% year-over-year decrease. The company is taking a cautious approach to Q4 sales outlook and expense management due to softening demand and elongated sales cycles.
- Net sales decreased by 4.0% year-over-year to $1,378 million.
- Net income decreased to $170 million, with diluted earnings per share of $3.26.
- Non-GAAP diluted EPS decreased by 9.5% year-over-year to $4.12.
- Adjusted EBITDA decreased by 6.7% year-over-year to $291 million.
Headline financials
Revenue & EPS history
Zebra · Revenue · Quarterly
$1.38B
Revenue by segment
Zebra · $1.38B total across 2 segments · Q3 2022
- Connected Frontline (CF)$963M-8.3%69.9%
- Asset Visibility & Automation$415M+7.5%30.1%
Forward guidance
The company expects fourth quarter 2022 adjusted net sales to change (2)% to 1% from the prior year period. Adjusted EBITDA margin for the fourth quarter of 2022 is expected to be approximately 22-23%. Non-GAAP earnings per diluted share are expected to be in the range of $4.50 to $4.80.
Tailwinds
- Expects fourth quarter 2022 adjusted net sales to change (2)% to 1% from the prior year period.
- Includes an approximately 2 point additive impact from recently acquired businesses.
- Adjusted EBITDA margin for the fourth quarter of 2022 is expected to be approximately 22-23%.
- Non-GAAP earnings per diluted share are expected to be in the range of $4.50 to $4.80.
- Assumes an adjusted effective tax rate of approximately 17-18%.
Headwinds
- Expects an approximately 4 point negative impact from foreign currency translation.
- Free cash flow is now expected to be at least $400 million, reflecting lower profitability and elevated inventory.
- Includes the anticipated $135 million of previously announced settlement payments.
- Unable to provide a reconciliation for non-GAAP estimates on a forward-looking basis.
- Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2022
+0.3%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+2.4%
Avg return
30 days after
53%
36 / 68 earnings
Positive
+17.9%
Q4 2017
Best reaction
-21.7%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.6% | +19.7% | +0.5% | |
| Q4 2025 | +8.6% | +3.3% | -19.7% | |
| Q3 2025 | -11.7% | -13.3% | -19.3% | |
| Q1 2025 | +5.2% | +5.1% | +20.1% | |
| Q4 2024 | -8.4% | -6.2% | -21.0% | |
| Q3 2024 | +5.6% | +5.8% | +11.6% | |
| Q2 2024 | +4.8% | -3.8% | +2.1% | |
| Q1 2024 | +3.0% | +3.2% | +5.5% | |
| Q4 2023 | +8.9% | +7.5% | +13.0% | |
| Q3 2023 | -5.6% | +2.2% | +13.0% | |
| Q2 2023 | -21.7% | -18.4% | -10.7% | |
| Q1 2023 | -10.1% | -4.7% | -7.4% | |
| Q4 2022 | -1.4% | -6.1% | -11.7% | |
| Q3 2022 | -16.7% | -18.6% | -5.1% | |
| Q2 2022 | -8.9% | -7.5% | -13.6% | |
| Q1 2022 | -3.1% | -9.7% | -8.6% | |
| Q4 2021 | -12.7% | -14.0% | -23.7% | |
| Q3 2021 | +6.6% | +12.0% | +10.0% | |
| Q2 2021 | +1.6% | +2.1% | +6.8% | |
| Q1 2021 | +0.7% | +2.0% | +5.6% | |
| Q4 2020 | +11.8% | +13.7% | +10.6% | |
| Q3 2020 | +12.3% | +18.2% | +27.1% | |
| Q2 2020 | +0.2% | +2.7% | +1.4% | |
| Q1 2020 | +10.9% | +2.1% | +16.5% | |
| Q4 2019 | -5.2% | -6.1% | -27.0% | |
| Q3 2019 | +7.2% | +6.8% | +14.5% | |
| Q2 2019 | +11.3% | +5.0% | +10.1% | |
| Q1 2019 | -9.6% | -9.0% | -25.2% | |
| Q4 2018 | +8.6% | +8.3% | +14.9% | |
| Q3 2018 | +7.3% | +8.0% | +2.7% | |
| Q2 2018 | +10.7% | +13.4% | +17.5% | |
| Q1 2018 | +8.8% | +13.2% | +15.0% | |
| Q4 2017 | +17.9% | +16.6% | +13.3% | |
| Q3 2017 | -7.9% | -9.8% | -7.0% | |
| Q2 2017 | +6.8% | +6.4% | +3.6% | |
| Q1 2017 | +2.3% | +3.1% | +11.7% | |
| Q4 2016 | +8.4% | +5.8% | +1.2% | |
| Q3 2016 | +9.2% | +12.3% | +27.5% | |
| Q2 2016 | +11.8% | +15.1% | +17.6% | |
| Q1 2016 | -17.8% | — | — | |
| Q4 2015 | -15.0% | — | — | |
| Q3 2015 | -9.3% | — | — | |
| Q2 2015 | -20.4% | — | — | |
| Q1 2015 | +15.5% | — | — | |
| Q4 2014 | -3.5% | — | — | |
| Q3 2014 | -1.1% | — | — | |
| Q2 2014 | -8.1% | — | — | |
| Q1 2014 | +3.5% | — | — | |
| Q4 2013 | +15.3% | — | — | |
| Q3 2013 | +6.3% | — | — | |
| Q2 2013 | -1.3% | — | — | |
| Q1 2013 | +0.3% | — | — | |
| Q4 2012 | +3.5% | — | — | |
| Q3 2012 | +3.5% | — | — | |
| Q2 2012 | -2.0% | — | — | |
| Q1 2012 | +0.7% | — | — | |
| Q4 2011 | +1.9% | — | — | |
| Q3 2011 | -1.5% | — | — | |
| Q2 2011 | -11.6% | — | — | |
| Q1 2010 | -1.0% | — | — | |
| Q4 2010 | -1.0% | — | — | |
| Q1 2011 | +0.1% | — | — | |
| Q4 2008 | -0.3% | — | — | |
| Q3 2010 | -1.1% | — | — | |
| Q3 2009 | -1.1% | — | — | |
| Q2 2009 | -0.0% | — | — | |
| Q2 2010 | -0.0% | — | — | |
| Q4 2009 | -0.0% | — | — |
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