Zebra Raises Full-Year Outlook Sharply, Stock Surges 20%
ZBRA sits 79% above its 52-week low of $199.05.
Summary
Zebra Technologies blew past Q2 estimates and raised its full-year guidance well above consensus. Revenue of $1.56B beat the $1.50B consensus, and adjusted EPS of $6.35 crushed the $4.36 estimate. The company now sees full-year sales growth of 14%-16%, up from 10%-14%, and adjusted EPS of $20.75-$21.25, a massive jump from the prior $18.30-$18.70 range. Free cash flow is expected to exceed $1 billion. The stock is up about 20%, its biggest single-day gain since July 2000. This follows the strong Q1 report and guidance raise in May, confirming accelerating demand for automation products. The magnitude of the guidance raise and the stock reaction make this a must-know event for any trader.
At the time of this announcement, ZBRA was trading at $355.80 on NASDAQ in the Technology sector, with a market capitalization of approximately $16.9B. The 52-week trading range was $199.05 to $360.58. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.