Zebra Q2 FY2026: revenue up 20.4%, gross margin 53.0%, outlook raised
Zebra's second quarter was its strongest in the quarters shown: revenue rose 20.4% to $1.557 billion, gross margin jumped to 53.0%, and non-GAAP EPS of $6.35 beat the $4.4449 consensus. The company raised its full-year outlook. The catch is that a large part of the margin gain came from $73 million of IEEPA tariff recoveries, and organic growth was 9.2% once acquisitions and currency are stripped out.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $4.85 more than doubled from $2.19, and non-GAAP EPS of $6.35 rose 75.9% from $3.61. Both cleared the $4.4449 consensus, so the beat holds on either measure. Remember that non-GAAP strips out $72 million of pre-tax adjustments, mainly $37 million of intangible amortization, share-based compensation and restructuring.
Revenue of $1.557 billion rose 20.4% from $1.293 billion a year earlier and topped every other quarter shown here. Hardware did the work: tangible products brought in $1.316 billion, services and software only $241 million. Just 9.2% of the increase was organic, so acquisitions and currency supplied the rest.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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