Categories Earnings, Technology

Earnings Summary: A snapshot of Zebra Technologies’ Q4 2023 report

Zebra Technologies Corporation (NASDAQ: ZBRA), a manufacturer of barcode printers and scanners, reported lower sales and net profit for the three months that ended December 2023.

  • Zebra’s fourth-quarter net sales decreased sharply by 33% year-over-year to $1.0 billion
  • Consolidated organic net sales dropped 33.1% in the fourth quarter
  • Net income was $17 million or $0.31 per share, which represents year-over-year decreases of 91% and 91.3%, respectively
  • On an adjusted basis, net income decreased 64% annually to $1.71 per share during the three months
  • Fourth-quarter 2023 gross profit was $448 million, compared to $685 million in the prior-year period
  • At $155 million, adjusted EBITDA was down 54.1% year-over-year in the fourth quarter
  • The company expects its cost-reduction plans to drive $120 million annualized net expense savings, up from $100 million

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