Zebra Technologies earnings date and guidance
MyStockButler's October 2026 analysis: Zebra Technologies will release third-quarter results on November 3, 2026. Memory supply is the key thing to watch.
What has Zebra Technologies guided for 2026?
On August 4, management raised its 2026 full-year sales-growth forecast to 14.0%–16.0% and its non-GAAP diluted earnings-per-share forecast to $20.75–$21.25. Non-GAAP earnings exclude specified items such as acquisition-related amortization and restructuring costs; diluted earnings allow for shares that employee awards could create. Management also targets an adjusted EBITDA margin of 23.5%–24.0% and free cash flow above $1,000 million. Adjusted EBITDA is an adjusted profit measure, not cash that Zebra can spend. For the third quarter, management expects $4.70–$4.90 per share.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| sales growth | Full Year 2026 | 14.0% | 16.0% | Aug 4, 2026 |
| favorable impact from business acquisitions, dispositions and foreign currency (percentage points) | Full Year 2026 | 8 | 8 | Aug 4, 2026 |
| Adjusted EBITDA margin | Full Year 2026 | 23.5% | 24.0% | Aug 4, 2026 |
| Non-GAAP diluted earnings per share | Full Year 2026 | 20.75 | 21.25 | Aug 4, 2026 |
| adjusted effective tax rate | Full Year 2026 | 19.0% | 19.0% | Aug 4, 2026 |
| Free Cash Flow | Full Year 2026 | 1,000 | Aug 4, 2026 | |
| sales growth | Third quarter 2026 | 17.0% | 20.0% | Aug 4, 2026 |
| favorable impact from business acquisitions, dispositions and foreign currency (percentage points) | Third quarter 2026 | 10.5 | 10.5 | Aug 4, 2026 |
| Adjusted EBITDA margin | Third quarter 2026 | 22.0% | 22.0% | Aug 4, 2026 |
| Non-GAAP diluted earnings per share | Third quarter 2026 | 4.70 | 4.90 | Aug 4, 2026 |
| adjusted effective tax rate | Third quarter 2026 | 19.0% | 19.0% | Aug 4, 2026 |
What this means. The free cash flow figure is a minimum, not a range: the company expects more than 1 billion US dollars, with no stated maximum.
Has Zebra Technologies kept its promises?
Zebra has generally kept its promises. Across seven quarters checked, sales growth never fell below guidance. Adjusted earnings exceeded guidance five times and stayed within it twice, while adjusted EBITDA margin exceeded guidance in all six comparable quarters. But tariffs forced a guidance cut in 2025, so reliability does not mean that forecasts never change.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Sales growth | 7 quarters | 3 | 4 | 0 |
| Adjusted EBITDA margin | 6 quarters | 6 | 0 | 0 |
| Non-GAAP diluted earnings per share | 7 quarters | 5 | 2 | 0 |
What do the last eight quarters show for Zebra Technologies?
For the quarter ended July 4, 2026, sales reached $1.557 billion. Revenue rose 20.4% from the prior-year quarter. Organic growth was 9.2%, compared with 4.3% in the April quarter. CF grew 7.5% organically and AVA grew 11.4%. Growth appeared across all four regions, with healthcare fastest and retail and manufacturing strengthening, while transportation and logistics were flat.
| Jul 2026 | Apr 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,557 | 1,495 | 1,475 | 1,320 | 1,293 | 1,308 | 1,334 | 1,255 |
| Gross margin | 53.0% | 49.6% | 47.3% | 48.0% | 47.6% | 49.3% | 48.6% | 48.8% |
| Operating income | 321 | 215 | 139 | 183 | 183 | 195 | 225 | 191 |
| Net income | 233 | 135 | 70 | 101 | 112 | 136 | 163 | 137 |
| EPS, diluted | 4.85 | 2.72 | 1.39 | 1.97 | 2.19 | 2.62 | 3.14 | 2.64 |
What this means. The July 2026 gross margin looks higher partly because the company counted 73 million dollars of tariff recoveries even though it received only 14 million dollars in cash.
What should you watch when Zebra Technologies reports?
Zebra will release third-quarter results on November 3, 2026. Management said better memory-component availability helped second-quarter shipments, but higher memory costs would pressure the following quarter. A mobile computer cannot ship without memory, just as a bicycle cannot leave a factory without a chain. Zebra was qualifying five to seven suppliers for each primary memory type and planned price increases to offset an estimated $120 million memory-cost headwind.
The clearest evidence will come in sequence: customer interest, accepted orders, shipments and finally collected cash. That sequence will show whether Zebra’s promised growth can pay for what comes next.