ZBRA Stock — Zebra Technologies Corp

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Next earnings call

Feb 11, 2027 Est · unconfirmed · in 13 wks

Q3 2026 earnings call transcript

call held Nov 3, 2026

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Latest documents

what the company just published, in one sentence each

2026

Nov 3

Quarterly report 10-Q FY2026 Q3, ended Oct 3

Third-quarter sales rise 22.3%, net income reaches $164 million

Zebra Technologies Corporation reported third-quarter net sales of $1,614 million, up 22.3%, and net income of $164 million; operating income rose to $237 million from $183 million.

Revenue $1.61B ▲ 22.3% Net income $164M ▲ 62.4% Diluted EPS $3.43 ▲ 74.1%

Read from the MD&A section

6 source passages

Third Quarter 2026 Financial Summary Net sales were $1,614 million in the current quarter compared to $1,320 million in the prior year third quarter. Operating income was $237 million in the current quarter compared to $183 million in the prior year third quarter. Net income was $164 million, or $3.43 per diluted share in the current quarter, compared to net income of $101 million, or $1.97 per diluted share in the prior year third quarter. Total Net sales increased by $294 million or 22.3% compared to the prior year quarter, reflecting continued growth in both of our segments. ZEBRA TECHNOLOGIES CORPORATION Open the document at this passage

Nov 3

Earnings call

Record quarter drives higher full-year outlook

Zebra delivered record quarterly sales exceeding $1.6 billion, grew more than 22%, and raised full-year sales growth guidance to approximately 17%, while guiding to fully mitigate an approximately $145 million memory cost headwind.

4 source passages

It was another standout quarter for Zebra. We achieved record quarterly sales and increased earnings, driven by strong execution and broad-based growth across our portfolio. For the quarter, we generated sales exceeding $1.6 billion, growing more than 22% or 11% on an organic basis from the prior year, an adjusted EBITDA margin of 21.6% and non-GAAP diluted earnings per share of $4.95, A 28% increase over the prior year. Our fourth quarter outlook translates to full-year sales growth of approximately 17%, a two-point increase from our prior outlook. However, our full-year guide continues to reflect full mitigation of the approximately $145 million memory cost headwind, an increase of $25 million from our prior estimate due to higher sales volumes. Open the document at this passage

Nov 3

Current report 8-K

Q3 sales rise 22.3% as full-year outlook increases

Zebra Technologies Corporation reported third-quarter net sales of $1,614 million, up 22.3% year-over-year, net income of $164 million and diluted EPS of $3.43. It raised full-year outlook, with fourth-quarter sales growth expected between 10% and 14% and free cash flow of at least $1 billion.

Financial results

6 source passages

Zebra Technologies Corporation (NASDAQ: ZBRA), a global leader in digitizing and automating workflows to deliver intelligent operations, today announced results for the third quarter ended October 3, 2026. Net sales of $1,614 million; year-over-year increase of 22.3% Net income of $164 million and net income per diluted share of $3.43 Raises full year outlook The Company expects fourth quarter sales growth between 10% and 14% compared to the prior year. Free Cash Flow for the full year is expected to be at least $1 billion. Open the document at this passage

Aug 4

Earnings call

Q2 2026 earnings call AI summary on its way

Aug 4

Current report 8-K

Financial results AI summary on its way

All documents

Metrics snapshot

Useful current figures from the complete screener profile.

View all 125 metrics

Revenue (TTM)

$6.14B

Trailing 12 months

Net income (TTM)

$602.00M

Trailing 12 months

Revenue growth YoY

+22.3%

Year over year

Operating margin

14.9%

Trailing 12 months

P / E (TTM)

26.1

Trailing earnings · reciprocal yield 3.8%

FCF yield

6.5%

TTM · current market cap

Return on invested capital

12.3%

Trailing 12 months

Net cash

−$2.39B

Latest balance sheet

Dividend yield

—

Trailing 12 months

Shares change YoY

-6.6%

Year over year · fewer shares

Price change (1Y)

+34.1%

Trailing year

Short interest

2.8%

Latest settlement · 2.6 days to cover

View all 125 metrics

Quarterly results

Revenue Net income Net loss

▲32.2% $1.33B $163.00M '24 Q4* ▲11.3% $1.31B $136.00M '25 Q1 ▲6.2% $1.29B $112.00M '25 Q2 ▲5.2% $1.32B $101.00M '25 Q3 ▲10.6% $1.48B $70.00M '25 Q4* ▲14.3% $1.50B $135.00M '26 Q1 ▲20.4% $1.56B $233.00M '26 Q2 LATEST ▲22.3% $1.61B $164.00M '26 Q3

* Q4 derived as the full year minus Q1 to Q3.

AI Brief

Q2 FY26 earnings call · Aug 4, 2026

Q2 FY26

TL;DR. Zebra delivered record Q2 results with sales of $1,557M and non-GAAP EPS of $6.35, and raised its full-year 2026 sales growth outlook to 14–16% (up three points at the midpoint), though guidance reflects an ongoing memory supply/cost headwind of ~$120M and Q3 EBITDA margin steps down to ~22%.

Bullish

+ Q2 sales grew 20.4% to a record $1,557M with 9.2% organic growth and non-GAAP EPS up 75.9% to $6.35.
+ Raised full-year 2026 sales growth outlook to 14–16% (three-point increase at the midpoint), with adjusted EBITDA margin now 23.5–24.0% and non-GAAP EPS of $20.75–$21.25.
+ Strong broad-based demand across regions and end markets, with healthcare the highest growth vertical and double-digit growth in retail, manufacturing, and healthcare.

Bearish

− Q3 guidance implies a margin step-down, with adjusted EBITDA margin of approximately 22% (down from Q2's 27.7%) driven by removal of the $73M IEEPA tariff recovery and a step-up in memory costs.
− Management stated unconstrained demand would take results to the high end of the outlook range, indicating the midpoint guide is deliberately supply-constrained.
− EMEA growth lagged other regions at 7% and continued softness in the Middle East was cited due to geopolitical challenges.

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice

Overall

Neutral

SellHoldBuy

Technical Neutral Momentum Strong Sentiment Neutral Fundamentals Strong Quant / Vol Very High

Market backdrop VIX 19.3 · elevated Equity put/call 0.63

Technical

price trend

Neutral

50 / 200-day cross No cross

Price vs 200-day avg +14%

above

Price vs 50-day avg −10%

below

RSI (14) 35

neutral

MACD trend Negative

52-week position 65%

mid-range

Volume (OBV) Confirms

volume backs price

Momentum

relative strength

Strong

1-month return −12%

trailing

6-month return +28%

trailing

YTD return +33%

this year

Relative strength +28%

vs S&P · 6-mo

Sentiment

smart money

Neutral

Trend (MA cross) No cross

50d $362 › 200d $284 — 50d above 200d

Institutional flow Distributing

660 of 651 funds reported for Sep 30 · net -2.9M sh shares · +140 new

Insider flow Flat

No net insider activity over 90 days

Short interest Falling

2.76% of shares out · ▼ -10.7% MoM · 2.6 days cover

Volume signal Normal

Volume near normal

Institution breadth Multi-yr low

651 holders — near 3-yr low, contrarian setup

Squeeze score 46

elevated · 0–100

Fundamentals

Strong

Revenue growth +8%

Y/Y

Gross margin 48%

contracting

EPS growth −20%

Y/Y

Free cash flow $831.0M

Valuation P/E 26.1

below peers

Buyback $1.1B

remaining

Balance sheet $2.4B

net debt

Quant / Vol

risk profile

Very High

Volatility 48%

annualized · 1-yr

Max drawdown −27%

past year

ATR 4.2%

of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

what management promised — and delivered

Latest guidance · from the Earnings Call filed Aug 4, 2026

full year

Sales growth 14% – 16%

Free cash flow at least $1B

Share repurchase $700M

back half of the year

Share repurchase (additional in back half) $150M

Previous outlook earlier release · from the Earnings Call filed May 12, 2026

Still-open targets the latest release did not restate under the same label.

Organic sales growth · over a cycle 5% – 7%

Free cash flow · for the year at least $900M

Conversion rate · for the year 100%

Prior guidance period ended · from the 8-K filed Aug 4, 2026

Third quarter sales growth · third quarter 17% – 20%

Adjusted EBITDA margin · third quarter 22%

Non-GAAP diluted earnings per share · third quarter $4.70 – $4.90

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Neutral

2 · 4 · 1

50 / 200-day cross

No cross Neutral

Price vs 200-day avg

+14% Bullish

Price vs 50-day avg

−10% Bearish

RSI (14)

35 Neutral

MACD trend

Negative Bearish

52-week position

65% Neutral

Volume (OBV)

Confirms Neutral

Market signals — smart money & positioning

Mixed

Trend (MA cross) No cross

50d $362 › 200d $284 — 50d above 200d

Institutional flow Distributing

660 of 651 funds reported for Sep 30 · net -2.9M sh shares · +140 new

Insider flow Flat

No net insider activity over 90 days

Short interest Falling

2.76% of shares out · ▼ -10.7% MoM · 2.6 days cover

Volume signal Normal

Volume near normal

Institution breadth Multi-yr low

651 holders — near 3-yr low, contrarian setup

Price context

position in its 52-week range

Range low $199 Now $324 · 65% Range high $391

vs 200-day avg +14% vs 50-day avg -10%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings

Metric	Latest	Period	YoY
Adjusted EBITDA (Non-GAAP) non-GAAP	$778M	Six Months Ended July 4, 2026	—
Adjusted EBITDA margin non-GAAP	27.7%	the second quarter ended July 4, 2026	—
Adjusted Gross Margin non-GAAP	53.3%	Three Months Ended July 4, 2026	—
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in mil	$691M	the three months ended July 4, 2026 filing	—
AVA Organic Net sales growth non-GAAP	11.4%	the three months ended July 4, 2026 filing	—
GAAP → non-GAAP reconciliation GAAP AVA Reported GAAP Net sales growth 13.5% -2.3% Impact of foreign currency translations +0.2% Impact of acquisitions and dispositions = AVA Organic Net sales growth 11.4%
Average Price Paid per Share	$228.68	the three months ended July 4, 2026 filing	—
CF Organic Net sales growth non-GAAP	7.5%	the three months ended July 4, 2026 filing	—
Consolidated Organic Net sales growth non-GAAP	6.8%	Six Months Ended July 4, 2026	—
Free cash flow non-GAAP	361M	the first six months of 2026	—
Non-GAAP diluted EPS non-GAAP	$6.35	the second quarter ended July 4, 2026	—
Non-GAAP Net income non-GAAP	$305M	Three Months Ended July 4, 2026	—
Share repurchases	268M	the second quarter ended July 4, 2026	—
Shares repurchased	1,173,993	the second quarter of 2026 filing	—
Total Number of Shares Purchased	1,173,993	the three months ended July 4, 2026 filing	—

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Communication Equipment — same industry group

Open screener →

Company	Mkt cap	YTD	Rev growth Y/Y	P/E	Short % shares
ZBRA Zebra Technologies Corp this stock	$15.26B	+33.4%	+8.3%	26.1	2.8%
CSCO Cisco Systems, Inc.	$377.07B	+24.2%	+2.8%	28.7	1.5%
MSI Motorola Solutions, Inc.	$87.83B	+38.6%	+5.7%	42.8	2.1%
HPE Hewlett Packard Enterprise Co	$64.10B	+101.0%	+13.8%	24.9	3.5%
LITE Lumentum Holdings Inc.	$54.11B	+61.9%	+24.6%	—	8.9%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section

Ownership

Institutional Holders Reducing

Holders

744

% held: 99.0%
Reported: 660 of 651
Top holder: BlackRock, Inc.

Held Float

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Held by Funds

Fund positions

624

View

Short & Settlement

Short Interest Falling

Shares short

1.3M

Days to cover: 2.6d
Change: -155.9K sh

View

Short Volume

Short vol %

45%

As of: Nov 13, 2026

Short Total

View

Fails to Deliver

FTD shares

98

Value: $37.8K
As of: Oct 8, 2026

View

Off-Exchange

Off-exchange %

47.6%

Week of: Oct 5, 2026

Off-exch Lit

View

Smart Money

Congressional Trades Sell

Member

Kelly Louise Morrison

Amount: $1.0K–$15.0K
Traded: Jun 4, 2025

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Financials

Revenue (FY)

$5.4B

Net income (FY): $419.0M
EPS diluted: $8.18

View

Buybacks

Remaining

$1.1B

View

Filings

SEC Filings

Latest

8-K

Filed: Nov 3, 2026
This year: 12

Zebra Technologies Corporation reported third-quarter net sales of $1,614 million, up 22.3% year-over-year, net income of $164 million and diluted EPS of $3.43. It raised full-year outlook, with fourth-quarter sales growth expected between 10% and 14% and free cash flow of at least $1 billion.

View

Proposed Sales

Value

$127.0K

Shares: 500
Filed: May 26, 2026

View

Earnings & Events

Webcasts Upcoming

Next webcast

Nov 18, 2026

Last webcast: Nov 3, 2026

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Investor Relations

	5D	20D	120D	MTD	YTD
ZBRA	+0.6%	-12.2%	+28.4%	-10.3%	+33.4%
SPY	+2.6%	-1.2%	+0.5%	-0.2%	+10.6%
vs SPY	-2.0%	-11.0%	+27.9%	-10.1%	+22.8%

ZBRA · Zebra Technologies Corp

Price & Indicators

Up next

Latest documents

Metrics snapshot

Quarterly results

AI Brief

Equibles Rating

Guidance & track record

Technicals

Key metrics

Versus peers

At a glance

Performance

Capital returns