Q3 2024 Zebra Technologies Corp Earnings Call Transcript
Key Points
- Zebra Technologies Corp (ZBRA) reported a 31% year-over-year increase in sales, reaching nearly $1.3 billion for the third quarter.
- The company achieved an adjusted EBITDA margin of 21.4%, marking a 980-basis-point improvement from the previous year.
- Non-GAAP diluted earnings per share increased fourfold to $3.49 compared to the prior year.
- Zebra Technologies Corp (ZBRA) successfully completed restructuring actions, resulting in $120 million of net annualized operating savings.
- The company raised its full-year outlook for sales, profitability, and free cash flow, expecting at least $850 million in free cash flow for the year.
- The manufacturing sector continues to lag behind other sectors as the goods economy recovers.
- Visibility remains limited regarding the timing of large deployments in 2025, creating uncertainty in future projections.
- Despite improvements, the machine vision business experienced a decline due to weakness in the manufacturing sector.
- The company faces challenges with the potential impact of tariffs and geopolitical uncertainties on its supply chain.
- Zebra Technologies Corp (ZBRA) noted that while there is a recovery in demand, it is uneven across different end markets.
Good day, and welcome to the Third 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 third 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
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