Zebra Technologies (NASDAQ: ZBRA) reported Q3 EPS of $3.27, $0.46 better than the analyst estimate of $2.81. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.07 billion.

Third-Quarter Financial Highlights

• Third-quarter net sales of $1,132 million; year-over-year increase of 0.2%
• Net income of $116 million and net income per diluted share of $2.16, year-over-year decreases of 14.7% and 13.6%, respectively
• Non-GAAP diluted EPS decreased 4.7% year-over-year to $3.27
• Adjusted EBITDA decreased 10.5% year-over-year to $230 million

“In the third quarter our teams executed well in an environment that has disproportionately impacted our smaller customers and certain end-markets. We are pleased to deliver sales, EBITDA margin, and earnings per share results that exceeded our outlook, as many enterprise customers prioritized their spending on our solutions. I am proud of our employees’ resiliency and focus on serving our customers’ critical needs in these challenging times,” said Anders Gustafsson, Chief Executive Officer of Zebra Technologies. “Demand from our large strategic customers continues to be at record levels driven by accelerated trends to digitize and automate workflows as a result of the pandemic, while demand through the channel is recovering from the peak global macro pressure that we saw in the second quarter. Our strong order backlog, sales momentum, and encouraging pipeline of business gives us confidence in a strong finish to the year.”

GUIDANCE:

Zebra Technologies sees Q4 2020 EPS of $3.70-$3.90, versus the consensus of $3.28.

For earnings history and earnings-related data on Zebra Technologies (ZBRA) click here.