While reporting financial results for the first quarter on Tuesday, Zebra Technologies Corp. (ZBRA) provided its adjusted earnings and adjusted net sales growth guidance for the second quarter as well as maintains adjusted net sales growth outlook for the full year 2022.
For the second quarter, the company expects adjusted earnings in a range of $4.05 to $4.35 per share on adjusted net sales growth of 3 to 7 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.52 per share on net sales growth of 3.80 percent to $1.43 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2022, the company now still projects adjusted net sales growth of 3 to 7 percent. The Street is looking for sales growth of 5.60 percent to $5.95 billion for the year.
For the first quarter, net income declined to $205 million or $3.83 per share from $228 million or $4.22 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter were $4.01 per share, compared to $4.79 per share in the year-ago quarter.
Net sales for the quarter grew 6.3 percent to $1.43 billion from $1.35 billion in the same quarter last year. Consolidated organic net sales increased 5.4 percent.
Analysts expected earnings of $3.87 per share on net sales of $1.37 billion for the quarter.
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