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fool.comAUG 117 min read$ZBRA

Zebra (ZBRA) Q2 2026 Earnings Call Transcript

Zebra Technologies (ZBRA) reported Q2 2026 net sales of $1.5B, up 20.4% (9.2% organic), and non-GAAP EPS of $6.35, up 76% year over year. Adjusted EBITDA margin was 27.7%. The company raised full-year guidance to 14% to 16% sales growth and $20.75 to $21.25 EPS, citing price actions and tariff recoveries.

Original reporting
fool.com
Published Aug 11, 2026, 5:45 PM UTC
Analysis
alphai AI DeskAI-generated
Added to alphai Aug 11, 2026, 6:05 PM UTC. Informational, not investment advice.
How this was made
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Zebra (ZBRA) Q2 2026 Earnings Call Transcript — source image
Source · fool.com
Decision brief

The 30-second read

$ZBRABullishHigh
01

Why it matters

The most tradable elements are the raised full-year sales and EPS guidance, plus explicit second-half margin risk from memory cost increases and mitigation via pricing and supply chain actions.

02

Market read

Guidance raise with quantified margin drivers (tariff recovery, pricing benefit) and a disclosed second-half memory cost headwind creates a clear setup for estimate revisions and near-term positioning.

03

What to watch

Tariff recovery ($73M) and pricing benefit ($90M) are key margin supports; traders may want to assess sustainability and whether they reverse in later quarters.

Relevance 9/10Novelty 9/10Timing: after-hours/into next session following the Q2 2026 earnings call transcript

Background

This is a transcript-style summary of Zebra Technologies' Q2 2026 earnings call, including financial results, guidance, and management commentary on drivers and risks.

Company-level read

Ticker impact

$ZBRABullishHigh confidence
Context

Zebra reported Q2 2026 net sales of $1.5B, raised full-year sales guidance to 14% to 16%, and guided EPS to $20.75 to $21.25.

Expected impact

Likely positive near-term bias as guidance is raised, but expect volatility around second-half gross margin risk from memory cost headwinds.

Evidence & confidence

The article contains specific, management-provided guidance and quantified margin/EPS drivers (tariff recovery benefit, memory cost headwind, pricing benefit) that directly inform forward estimates and positioning.

Market effects

Sector

Supports the AIDC and enterprise automation hardware/software demand narrative, with emphasis on mobile computing and warehouse automation adoption.

Regional

Highlights stronger Asia Pacific growth (13% YoY) versus EMEA softness tied to Middle East geopolitical conditions.

Global

Reinforces supply-chain and tariff-recovery dynamics (IEEPA recoveries) as meaningful swing factors for gross margins in industrial tech.

Counterpoint

What could challenge this read

The raised guidance may be partially offset by a large expected full-year memory cost headwind ($120M), which could pressure margins if pricing realization or supply efficiency underperforms.

Key entities

  • company
    Zebra Technologies Corporation

    Subject of the earnings call transcript, reporting Q2 results and raising full-year guidance.

  • executive
    William Burns

    CEO, cited record results, AI-powered frontline digitization demand, and regional softness drivers.

  • executive
    Nathan Winters

    CFO, provided quantified financial drivers including memory cost headwind and margin guidance.

Read at source← All news

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