Zebra Q1 net sales down 16.4% to $1.175B; non-GAAP EPS $2.84; raises FY2024 outlook

ZEBRA TECHNOLOGIES CORP

2024-Q1 EPS reported $2.23 revenue$1,175,000,000

Net sales $1,175M, down 16.4% YoY; EVM segment $783M (-11.8% organic), AIT $392M (-25.3% organic).
Net income $115M ($2.23 diluted EPS); non-GAAP diluted EPS $2.84, down 27.9% from $3.94.
Adjusted EBITDA $234M (19.9% margin) vs $301M (21.4%) a year ago.
Cost initiatives on track: $120M annualized savings target; $50M realized in 2023, $25M in Q1 2024.
FY2024 guidance raised: net sales growth 1-5%, non-GAAP EPS $11.25-$12.25, free cash flow ≥$600M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ZEBRA TECHNOLOGIES CORP reported first quarter ended March 30, 2024 results: revenue $1,175 million, net income $115 million, EPS $2.23 per diluted share. Guidance raised.

Period: first quarter ended March 30, 2024
Revenue: $1,175 million
Net income: $115 million
EPS: $2.23 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Overlook Point Lincolnshire, IL 60069 USA +1 847 634 6700 www.zebra.com Zebra Technologies Announces First-Quarter 2024 Results First-Quarter Financial Highlights • Net sales of $1,175 million; year-over-year decrease of 16.4% • Net income of $115 million and net income per diluted share of $2.23 • Non-GAAP diluted EPS decreased year-over-year to $2.84 • Adjusted

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