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ZBRA guides 2026 EPS of $17.70-$18.30 and expects sales growth of 9-13%.
Zebra Technologies Corporation (ZBRA - Free Report) reported fourth-quarter 2025 adjusted earnings of $4.33 per share, which missed the Zacks Consensus Estimate of $4.34. The bottom line increased 8.3% from $4.00 per share reported in the year-ago quarter.
Total revenues of $1.48 billion surpassed the consensus estimate of $1.46 billion. The top line increased 10.6% year over year, driven by strength across its segments. Consolidated organic net sales increased 2.5% year over year.
In 2025, ZBRA reported revenues of $5.40 billion, which increased 8.3% year over year. The company’s adjusted earnings were $15.84 per share, up 17.2% year over year.
ZBRA’s Segmental Performance
Effective from the fourth quarter of 2025, the company started reporting under two segments, namely Connected Frontline and Asset Visibility & Automation.
Revenues from the Connected Frontline segment rose 17.6% year over year to $854 million. Organic net sales increased 3.6%.
The Asset Visibility & Automation segment’s revenues totaled $621 million, up 2.1% year over year. Organic net sales increased 1.3%.
Zebra Technologies Corporation Price, Consensus and EPS Surprise
In the fourth quarter, Zebra Technologies’ cost of sales totaled $777 million, up 13.3% year over year. Total operating expenses increased 32.2% year over year to $ $559 million.
The company reported a net income of $70 million compared with $163 million in the year-ago period.
Zebra Technologies’ Balance Sheet and Cash Flow
Zebra Technologies had cash and cash equivalents of $125 million at the end of the fourth quarter compared with $901 million at the end of December 2024. Long-term debt totaled $2.36 billion compared with $2.09 billion at the end of December 2024.
In 2025, Zebra Technologies generated net cash of $917 million in operating activities compared with $1.01 billion in the year-ago period. The company incurred a capital expenditure of $86 million in the same time frame. Free cash flow amounted to $831 million compared with $954 million in the year-ago period.
ZBRA’s Guidance
For the first quarter of 2026, Zebra Technologies expects net sales to increase in the band of 11-15% year over year.
Adjusted EBITDA margin is anticipated to be 21-22% in the first quarter. Adjusted earnings per share are expected to be in the band of $4.05-$4.35.
For 2026, ZBRA has issued its financial outlook. The company now expects adjusted earnings to be $17.70-$18.30 per share. Adjusted EBITDA margin is anticipated to be approximately 22% in the year. ZBRA currently expects net sales to increase 9-13% year over year. It expects free cash flow to be at least $900 million.
ZBRA Zacks Rank
The company currently carries a Zacks Rank #3 (Hold).
Graco Inc. (GGG - Free Report) posted quarterly earnings of 77 cents per share in the fourth quarter of 2025, in line with the Zacks Consensus Estimate. This compares with earnings of $0.64 per share a year ago.
Graco posted revenues of $593.2 million for the quarter, surpassing the Zacks Consensus Estimate by 1.39%. This compares with year-ago revenues of $548.67 million.
Baker Hughes Company (BKR - Free Report) reported fourth-quarter 2025 adjusted earnings of 78 cents per share, which beat the Zacks Consensus Estimate of 67 cents. The bottom line also increased from the year-ago level of 70 cents.
Total quarterly revenues of $7,386 million beat the Zacks Consensus Estimate of $7,056 million. The top line also increased from the year-ago quarter’s $7,364 million.
3M Company (MMM - Free Report) delivered adjusted earnings of $1.83 per share in the fourth quarter of 2025, which surpassed the Zacks Consensus Estimate of $1.82. The company reported earnings of $1.68 per share in the year-ago quarter.
MMM’s adjusted revenues of $6.00 billion missed the consensus estimate of $6.08 billion. On an adjusted basis, organic revenues increased 2.2% year over year.
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Zebra Technologies Q4 Earnings Miss Estimates, Increase Y/Y
Key Takeaways
Zebra Technologies Corporation (ZBRA - Free Report) reported fourth-quarter 2025 adjusted earnings of $4.33 per share, which missed the Zacks Consensus Estimate of $4.34. The bottom line increased 8.3% from $4.00 per share reported in the year-ago quarter.
Total revenues of $1.48 billion surpassed the consensus estimate of $1.46 billion. The top line increased 10.6% year over year, driven by strength across its segments. Consolidated organic net sales increased 2.5% year over year.
In 2025, ZBRA reported revenues of $5.40 billion, which increased 8.3% year over year. The company’s adjusted earnings were $15.84 per share, up 17.2% year over year.
ZBRA’s Segmental Performance
Effective from the fourth quarter of 2025, the company started reporting under two segments, namely Connected Frontline and Asset Visibility & Automation.
Revenues from the Connected Frontline segment rose 17.6% year over year to $854 million. Organic net sales increased 3.6%.
The Asset Visibility & Automation segment’s revenues totaled $621 million, up 2.1% year over year. Organic net sales increased 1.3%.
Zebra Technologies Corporation Price, Consensus and EPS Surprise
Zebra Technologies Corporation price-consensus-eps-surprise-chart | Zebra Technologies Corporation Quote
ZBRA’s Margin Profile
In the fourth quarter, Zebra Technologies’ cost of sales totaled $777 million, up 13.3% year over year. Total operating expenses increased 32.2% year over year to $ $559 million.
The company reported a net income of $70 million compared with $163 million in the year-ago period.
Zebra Technologies’ Balance Sheet and Cash Flow
Zebra Technologies had cash and cash equivalents of $125 million at the end of the fourth quarter compared with $901 million at the end of December 2024. Long-term debt totaled $2.36 billion compared with $2.09 billion at the end of December 2024.
In 2025, Zebra Technologies generated net cash of $917 million in operating activities compared with $1.01 billion in the year-ago period. The company incurred a capital expenditure of $86 million in the same time frame. Free cash flow amounted to $831 million compared with $954 million in the year-ago period.
ZBRA’s Guidance
For the first quarter of 2026, Zebra Technologies expects net sales to increase in the band of 11-15% year over year.
Adjusted EBITDA margin is anticipated to be 21-22% in the first quarter. Adjusted earnings per share are expected to be in the band of $4.05-$4.35.
For 2026, ZBRA has issued its financial outlook. The company now expects adjusted earnings to be $17.70-$18.30 per share. Adjusted EBITDA margin is anticipated to be approximately 22% in the year. ZBRA currently expects net sales to increase 9-13% year over year. It expects free cash flow to be at least $900 million.
ZBRA Zacks Rank
The company currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Companies
Graco Inc. (GGG - Free Report) posted quarterly earnings of 77 cents per share in the fourth quarter of 2025, in line with the Zacks Consensus Estimate. This compares with earnings of $0.64 per share a year ago.
Graco posted revenues of $593.2 million for the quarter, surpassing the Zacks Consensus Estimate by 1.39%. This compares with year-ago revenues of $548.67 million.
Baker Hughes Company (BKR - Free Report) reported fourth-quarter 2025 adjusted earnings of 78 cents per share, which beat the Zacks Consensus Estimate of 67 cents. The bottom line also increased from the year-ago level of 70 cents.
Total quarterly revenues of $7,386 million beat the Zacks Consensus Estimate of $7,056 million. The top line also increased from the year-ago quarter’s $7,364 million.
3M Company (MMM - Free Report) delivered adjusted earnings of $1.83 per share in the fourth quarter of 2025, which surpassed the Zacks Consensus Estimate of $1.82. The company reported earnings of $1.68 per share in the year-ago quarter.
MMM’s adjusted revenues of $6.00 billion missed the consensus estimate of $6.08 billion. On an adjusted basis, organic revenues increased 2.2% year over year.