ZEBRA TECHNOLOGIES CORP — Form 8-K
Filed November 3, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 68/100
What the filing says
Zebra Technologies reported Q3 2026 net sales of $1,614M (22.3% YoY growth) with net income of $164M ($3.43 diluted EPS) and adjusted EBITDA of $349M. The Connected Frontline segment grew 15.0% organically; Asset Visibility & Automation grew 7.0% organically. Management raised full-year guidance: Q4 sales growth 10–14% YoY, adjusted EBITDA margin ~22%, non-GAAP diluted EPS $5.00–$5.40, and free cash flow of at least $1B for full year. Gross margin declined 230 basis points YoY to 45.7% due to memory component costs and mix, partially offset by pricing actions. The company repurchased $643M in shares through nine months.
Why this rating
Strong organic growth (11.3% consolidated) and raised FY guidance signal demand durability. Gross margin pressure offset by pricing and OpEx leverage. ~$1.6B quarterly revenue is ~10% of market cap; $1B+ annual FCF and $643M buyback signal capital strength. Materiality is meaningful but not transformational at this scale.
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