Zebra Technologies Guides Q4 Well Below View As Q3 Results Miss Estimates
(RTTNews) - While reporting financial results for the third quarter on Tuesday, Zebra Technologies Corp. (ZBRA) provided its adjusted earnings and adjusted net sales growth guidance for the fourth quarter, well below analysts' estimates.
For the fourth quarter, the company expects adjusted earnings in a range of $4.50 to $4.80 per share on adjusted net sales between a decline of 2 percent and growth of 1 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.13 per share on net sales growth of 4.70 percent to $1.54 billion for the quarter. Analysts' estimates typically exclude special items.
For the third quarter, the company reported net income of $170 million or $3.26 per share, down from $199 million or $3.69 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter were $4.12 per share, compared to $4.55 per share in the year-ago quarter.
Net sales for the quarter grew 4.0 percent to $1.38 billion from $1.44 billion in the same quarter last year.
Analysts expected earnings of $4.54 per share on net sales of $1.44 billion for the quarter.
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