Zebra Technologies Earnings Preview: What to Expect

Lincolnshire, Illinois-based Zebra Technologies Corporation (ZBRA) operates in the automatic identification and data capture solutions industry worldwide. The company has a market cap of $12.4 billion and operates in two segments: Connected Frontline and Asset Visibility and Automation. It designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, plastic cards, and more. 

ZBRA is expected to release its Q2 2026 earnings on Tuesday, Aug. 4, before the market opens. Ahead of the event, analysts expect the company’s EPS to be $3.49 on a diluted basis, up 12.9% from $3.09 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in three of its last four quarters, while missing on one occasion.

For fiscal 2026, analysts project the company’s EPS to be $15.20, up 19.5% from $12.72 in fiscal 2025. Moreover, its EPS is expected to rise by roughly 12% year over year (YoY) to $17.03 in fiscal 2027.

ZBRA stock has declined 19.4% over the past 52 weeks, lagging behind the S&P 500 Index’s ($SPX) 20.3% rise and the State Street Technology Select Sector SPDR ETF’s (XLK) 43.5% rise during the same time frame.            

On May 12, ZBRA stock rose 11.4% following the release of its Q1 2026 earnings. The company’s revenue for the quarter amounted to $1.5 billion, surpassing the Street’s estimates. Moreover, its adjusted EPS came in at $4.75, also topping Wall Street’s forecasts. The company expects full-year earnings in the range of $18.30 to $18.70 per share. 

Analysts are somewhat bullish about ZBRA, with the stock having a “Moderate Buy” rating overall. Among the 17 analysts covering the stock, 11 recommend a “Strong Buy,” one suggests a “Moderate Buy,”  and five recommend a “Hold.” ZBRA’s average analyst price target of $332.88 offers a 28.3% upside potential.