Enterprise asset tracking firm Zebra Technologies (ZBRA) on Tuesday posted better-than-expected sales and earnings for the June quarter and guided analysts higher for the September quarter, giving its stock a boost.
XZebra shares rose 2% in premarket trading on the stock market today. The stock ended the regular session Monday flat at 142.15. Zebra is ranked No. 45 on the IBD 50 list of top-performing growth stocks.
The Lincolnshire, Ill.-based company earned an adjusted $2.48 a share in the second quarter, up 64% year over year. Sales climbed 13% to $1.012 billion. Analysts expected it to earn $2.23 a share on sales of $989 million.
For the third quarter, Zebra Technologies guided to adjusted earnings per share of $2.60 on sales of $1.061 billion, based on the midpoint of its forecast. Wall Street was modeling $2.37 a share in earnings and $988 million in sales.
Zebra Technologies Boosts 2018 Sales Outlook
It also raised its outlook for the full year. Zebra now expects sales to grow 10% to 12% in 2018. It previously guided for sales to rise 6% to 9%.
"Our second-quarter results were driven by strong growth from our product and service offerings and disciplined operational execution," Chief Executive Anders Gustafsson said in a news release. "Given the strength of our results, we are raising our full-year outlook for sales growth and free cash flow. We continue to deliver digital innovation that enables our customers to compete effectively in today's on-demand economy."
Zebra makes rugged mobile computers, RFID tracking chips, and bar code scanners and printers enhanced with software and services to enable real-time enterprise visibility of inventory and other assets. It offers products and services for retail, health care, manufacturing, transportation and other industries.
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