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- Zebra Technologies Corp ZBRA reported a fourth-quarter FY22 net sales growth of 2.5% year-on-year to $1.50 billion, beating the consensus of $1.45 billion. Consolidated organic net sales for the quarter increased by 3.9%.
- Net sales in the Enterprise Visibility & Mobility (EVM) segment fell 0.9% Y/Y to $1.02 billion. The net sales of the asset Intelligence & Tracking (AIT) segment increased 10.3% Y/Y to $481 million.
- Margins: The non-GAAP gross margin was flattish at 45.6%. The non-GAAP EBITDA margin expanded by 80 bps to 22.5%.
- Non-GAAP EPS of $4.75 beat the consensus of $4.59.
- Zebra held $105 million in cash and equivalents.
- "We are recovering from supply chain challenges and achieved sales and earnings performance at the high end of our outlook, driven by double-digit growth in the Americas," said Anders Gustafsson, Chief Executive Officer of Zebra Technologies.
- "Although our order backlog and pipeline of opportunities remain healthy, we are taking a cautious approach to our outlook in this uncertain macro environment," Gustafsson added.
- Outlook: Zebra's Q1 net sales guidance of $1.375 billion -$1.418 billion compared to the consensus of $1.410 billion.
- It sees the non-GAAP EPS of $3.70 - $4.00, well below the street consensus of $4.17.
- Zebra's FY23 net sales outlook of $5.608 billion - $5.839 billion compared to the consensus of $5.680 billion.
- Price Action: ZBRA shares traded lower by 2.53% at $318.76 premarket on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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