Zebra Technologies Corporation
Zebra Technologies Corporation Q2 FY26 Results — Earnings Call Analysis
Q2 FY26 earnings call: what management said on revenue, margins and capex.
What the Q2 FY26 call signalled
1 of 3 strong
The short version
- Full-year sales growth expected between 10% and 14%, reflecting a 1-point increase at the midpoint from prior outlook. - Full-year sales growth is expected between 10% and 14%, with a 1-point increase at the midpoint from prior outlook.
From Zebra Technologies Corporation's Q2 FY26 earnings-call transcript · updated 30 May 2026.
Revenue & Sales Performance
- Full-year sales growth expected between 10% and 14%, reflecting a 1-point increase at the midpoint from prior outlook.
- Organic sales growth around 4.3% in Q1 with momentum across segments; Connected Frontline grew 20.6% (3.8% organic), Asset Visibility and Automation grew 4.8%.
- Broad-based demand across regions, segments, and vertical markets supports confidence in achieving the upper end of the sales outlook.
- Manufacturing and machine vision show strength; machine vision grew strong double digits in Q1.
- Large pipeline of opportunities and strong backlog support sales growth guidance range of 14% to 17% for Q2.
- Constraints from memory supply impact volume assumptions in back half but balanced by pricing benefits; full mitigation of memory cost headwinds expected.
2 more points from Zebra Technologies Corporation's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- Zebra has been active in strategic investments, including venture investments in companies like Apera AI and CoreVision, focused on machine vision and physical AI to stay close to new innovation.
- These venture investments are relatively small but important for keeping pulse on emerging technologies in AI and factory automation.
- The company is also building a broad independent software vendor (ISV) network for AI and mobile compute, working with large and small software vendors as part of its ecosystem.
- Capital allocation includes prioritizing investments that elevate the portfolio of solutions while maintaining a capital-light business model.
2 more points from Zebra Technologies Corporation's call on capex
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Fundraising & Capital Structure
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Order Book & Pipeline
- Entered the quarter with a strong backlog and pipeline supporting sales growth guidance of 14% to 17% (includes ~10.5 points from acquisitions and FX). (Page 4)
- Project funnel remains strong with a great pipeline of opportunities through the balance of the year and into 2027, especially as large transportation and logistics refreshes begin. (Page 10)
- No change in overall pipeline quality or quantity relative to recently announced transactions; large deals and run rate contributions align with full-year growth guidance. (Page 10)
2 more points from Zebra Technologies Corporation's call on order book
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Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Zebra Technologies Corporation Q2 FY26 results?
- Full-year sales growth expected between 10% and 14%, reflecting a 1-point increase at the midpoint from prior outlook. - Full-year sales growth is expected between 10% and 14%, with a 1-point increase at the midpoint from prior outlook.
What is Zebra Technologies Corporation share price analysis?
Zebra Technologies Corporation currently shows a below-average growth signal. The stock trades at a P/E of 30.5 with a market cap of $11,808. Investors should review the full earnings analysis for detailed insights.
Is Zebra Technologies Corporation planning capital expenditure?
- Zebra has been active in strategic investments, including venture investments in companies like Apera AI and CoreVision, focused on machine vision and physical AI to stay close to new innovation.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.