Q2 2024 Zebra Technologies Corp Earnings Call Transcript
Key Points
- Zebra Technologies Corp (ZBRA) delivered sales and earnings results above the high end of their outlook for Q2 2024.
- The company saw double-digit growth in the healthcare sector, driven by mobile computing.
- Sequential improvement in profitability was achieved due to improved gross margin and benefits from restructuring actions.
- Zebra Technologies Corp (ZBRA) raised their full-year outlook for sales and profitability based on Q2 performance and early signs of demand momentum.
- The company generated $389 million of free cash flow in the first half of 2024, improving working capital and maintaining a strong balance sheet.
- Total company sales were approximately flat year-over-year, reflecting only early signs of demand momentum.
- The asset intelligence & tracking segment declined by 14.4%, primarily driven by printing and RFID on challenging prior year comparisons.
- North America sales decreased by 7% due to fewer large orders in retail and transportation and logistics.
- Adjusted EBITDA margin decreased by 70 basis points year-over-year to 20.5%.
- Customers continue to exhibit cautious spending behavior on large deployments, which have not yet returned to historical levels.
Good day and welcome to the second-quarter 2024 Zebra Technologies earnings conference call. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference over to Mike Steele, Vice President, Investor Relations. Please go ahead.
Good morning and welcome to Zebra's second-quarter earnings conference call. This presentation is being simulcast on our website at investors.zebra.com and will be archived there for at least one year. Our forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties. Actual results could differ materially and we refer you to the factors discussed in our SEC filings.
During this call, we will reference non-GAAP financial measures as we describe our business performance. You can find reconciliations at the end of the slide presentation and in today's earnings press release. Throughout this presentation, unless otherwise indicated, our references to
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