Full Transcript: Zebra Technologies Q2 2026 Earnings Call

Zebra Technologies (NASDAQ: ZBRA ) released second-quarter financial results and hosted an earnings call on Tuesday.

Read the complete transcript below.

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Access the full call at Summary Zebra Technologies reported record results for Q2 2026, with sales exceeding $1.5 billion, reflecting a 20.4% increase, or 9.2% on an organic basis.

Adjusted EBITDA margin was 27.7%, boosted by $73 million in tariff recovery.

The company raised its full-year guidance due to positive demand trends and successful memory supply management.

Sales growth for the year is expected between 14% and 16%, with an adjusted EBITDA margin of 23.5% to 24%.

Strategic initiatives included leveraging AI-powered solutions across industries, strong double-digit growth in retail, manufacturing, and healthcare, and significant progress in integrating Elo Touch to enhance self-service and point-of-sale offerings.

Operational highlights include strong performance in North America and robust growth in Asia Pacific and Latin America.

EMEA showed resilience despite geopolitical challenges.

Management emphasized the company's ability to mitigate memory supply constraints and continue delivering strong results, highlighting strategic investments in RFID, machine vision, and AI.

Capital allocation included $568 million in share repurchases in the first half of 2026, with plans for an additional $150 million in the second half, reflecting confidence in long-term value creation.

Full Transcript OPERATOR Good day and welcome to the second quarter 2026 Zebra Technologies earnings conference call.

All participants will be in listen-only mode.

Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.

After today's remarks, there will be an opportunity to ask questions.

To ask a question, you may press star then one on your touchtone phone.

To withdraw your question, please press star then two.

Please note this event is being recorded.

I would now like to turn the conference over to Mike Steele, Vice President of Investor Relations.

Mike Steele, Vice President of Investor Relations Good morning and welcome to Zebra Technologies second quarter earnings conference call.

This presentation is being simulcast on our website at investors.zebra.com and will be archived there for at least one year.

Our forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties.

Actual results could differ materially and we refer you to the risk factors discussed in our SEC filings.

During this call we will reference non-GAAP financial measures as we describe business performance, with reconciliation shown at the end of this slide presentation and in our earnings press release.

Throughout this presentation, unless otherwise indicated, our references to sales performance are year-on-year on a constant currency basis and exclude results from business acquisitions and dispositions for 12 months.

This presentation will include prepared remarks from Bill Burns, our Chief Executive Officer, and Nathan Winters, our Chief Financial Officer.

Bill will begin with perspectives on our second quarter results, our value proposition, and strategic priorities.

Nathan will then provide additional detail on our financial results and discuss our outlook, followed by Bill's closing remarks.

Then Bill and Nathan will take your questions.

Now let's turn to slide three as I hand it over to Bill.

Bill Burns, Chief Executive Officer Thank you, Mike.

Good morning everyone and thank you for joining us.

There are three key points I'd like to focus on today.

First, our team executed well, driving record results with broad-based growth and significantly increased profitability.