ZBRA stock rose 7.8% on November 2, 2021, after the company reported beats on its quarterlies.
Zebra Technologies Announces Third-Quarter 2021 Results
Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge, today announced results for the third quarter ended October 2, 2021.
Third-Quarter Financial Highlights
- Net sales of $1,436 million; year-over-year increase of 26.9%
- Net income of $199 million and net income per diluted share of $3.69, year-over-year increases of 71.6% and 70.8%, respectively
- Non-GAAP diluted EPS increased 39.1% year-over-year to $4.55
- Adjusted EBITDA increased 35.7% year-over-year to $312 million
Zebra Technologies reported Q3 adjusted EPS of $4.55 versus the consensus estimate of $4.06. The company reported Q3 revenue of $1.44B versus the consensus estimate of $1.4B.
“Our team delivered exceptional third-quarter results that exceeded our outlook, supported by broad-based demand for our solutions and tireless actions taken to mitigate the impact of industry-wide supply chain disruption,” said Anders Gustafsson, Chief Executive Officer of Zebra Technologies. “We entered the fourth quarter with a strong order backlog and a robust pipeline of business which supports our strong sales outlook despite extended lead times for certain products. Additionally, we are focused on investing in adjacent expansion markets that advance our Enterprise Asset Intelligence vision, including our recent acquisition of antuit.ai, which provides AI-powered demand sensing for retailers and consumer packaged goods companies.”
Zebra Technologies Expands Fetch Robotics Portfolio with Solution to Optimize Fulfillment Workflows
On October 21, 2021, Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, introduced the industry’s most comprehensive picking solution to help companies to improve their fulfillment operations. The fulfillment solution consists of three new autonomous mobile robots (AMRs) – FlexShelf, FlexShelf Guide, and RollerTop Guide – and a new FetchCore fulfillment software package for order or batch picking. These new offerings further extend Zebra’s position as a leader in automating and digitizing critical workflows in warehouses, distribution, and fulfillment centers. As order volumes increase, labor pools get more competitive, and customer expectations continue to rise.
FetchCore enterprise cloud software allows companies to modify workflows on-demand for warehouse operations quickly. It enables the dynamic orchestration of labor and robots by integrating with leading warehouse management systems (WMS) and warehouse execution systems (WES) to optimize order, batch, case, and pallet picking workflows. FetchCore’s new fulfillment software package incorporates warehouse annotation, wave management, a pick heatmap, advanced fulfillment analytics, and forklift detection features. The warehouse annotation feature superimposes the physical pick locations in a facility logically into FetchCore, eliminating the need for QR codes and automatically enabling AMRs to adjust to reslotting within a warehouse.
“Zebra’s fulfillment solution enables Manhattan Associates to combine an end-to-end, best-in-class fulfillment AMR solution with optimization capabilities inherent to our warehouse management system software,” said Jon Liberman, Vice President of Enterprise Mobility at Manhattan Associates, a PartnerConnect Premier Solutions partner. “We are excited to provide a solution that increases the efficiency of each picking and case pick to pallet operations, especially while many of our customers are experiencing challenges with a competitive labor pool, supply shortages, and smaller delivery windows.”
Powered by the enhanced fulfillment software package in FetchCore, the three new AMRs expand upon Fetch’s existing case picking capabilities while providing several unique advantages over existing AMRs in the market. Fetch AMR’s can deliver up to three times increased productivity in fulfillment operations while total throughput in a facility is increased due to these new AMRs operating up to 50% faster than other fulfillment AMRs.
Built on the proven Fetch Freight100 platform, the FlexShelf and FlexShelf Guide provide flexible configurations for bin sizing and spacing, expanding the types of items that can be picked using AMRs. Both AMRs also reduce worker training time and increase picking accuracy by incorporating put-to-light and pick-side lighting – a critical element during seasonal peak periods when order volumes and seasonal staff are at their highest levels. Attracting and retaining staff is easier as the solution can reduce the time pickers spend walking by up to 60%, and features like ANSI RIA R15.08 compliance help keep them safe. An industry-first forklift detection feature enables AMRs to avoid forklift blind spots helping prevent damage to the AMRs. Businesses deploying the RollerTop Guide AMR can integrate picking workflows with existing fixed conveyance, sortation, and automated storage and retrieval systems (AS/RS).
These new AMRs can be purchased utilizing a capital or Robot as a Service (RaaS) model, depending upon customer preference. Deployments are fast and cost-effective because all Fetch AMRs operate on a facility’s existing Wi-Fi network with the option to use current handheld, voice, and vision technologies capable of interfacing with FetchCore’s software-as-a-service (SaaS) in the cloud.
“In 2020, we introduced SmartSight as our first automation solution for front-of-store retail, and we welcomed Fetch and its broad portfolio of AMRs for material transport in logistics and manufacturing into the Zebra family just a few months ago,” said James Lawton, Vice President and General Manager of Robotics Automation, Zebra Technologies. “Our new comprehensive fulfillment solution brings together the best of both companies to help our retail, wholesale and third-party logistics (3PL) customers overcome the biggest challenges in their each and case picking workflows with automation that is truly intelligent.”
According to Zebra’s Warehousing Vision Study, 77% of respondents agree augmenting workers with technology is the best way to introduce automation in the warehouse. Given increasing consumer expectations driven by the on-demand economy along with a limited workforce, automated processes can help streamline tasks, create happier, more efficient workers, and help businesses stay competitive in a dynamic marketplace.
“AMRs that support manual picking operations in fulfillment centers are in incredibly high demand, as retailers and 3PLs struggle to keep up with their customers’ demands,” said Ash Sharma, senior research director at Interact Analysis. “Fetch Robotics, now part of Zebra Technologies, has responded to this demand by developing an integrated fulfillment solution so that retailers and 3PLs can now not only streamline each picking operations but leverage the entire portfolio of Fetch AMRs to automate any manual workflow in fulfillment and distribution centers.”
- Built on the proven Fetch Freight100 platform, the new FlexShelf, FlexShelf Guide, and RollerTop Guide AMRs are faster, more accurate and safer than industry alternatives.
- FetchCore enterprise cloud software has been enhanced to automate each and case picking workflows while maintaining support for material transport operations for wholesalers, 3PLs and retailers.
- These new offerings further extend Zebra’s unique ability to help businesses modernize their entire warehouse operations with improved accuracy, productivity and worker safety – from inbound operations to outbound fulfillment.
Zebra (NASDAQ: ZBRA) empowers the front line in retail/e-commerce, manufacturing, transportation and logistics, healthcare, public sector, and other industries to achieve a performance edge. With over 10,000 partners across 100 countries, Zebra delivers industry-tailored, end-to-end solutions to enable every asset and worker to be visible, connected, and fully optimized. The company’s market-leading solutions elevate the shopping experience, track and manage inventory, and improve supply chain efficiency and patient care. For more information, visit https://www.zebra.com.
Zebra Technologies Completes Acquisition of Antuit.ai
On October 7, 2021, Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, announced it had completed its acquisition of antuit.ai, a provider of artificial intelligence (AI)-powered Software-as-a-Service (SaaS) solutions specific to forecasting and merchandising for the retail and CPG industries.
Honeywell asks ITC to block Zebra barcode scanner imports
On September 30, 2021, the US International Trade Commission posted a notice that the Commission has received a complaint entitled “Certain Barcode Scanners, Mobile Computers with Barcode Scanning Capabilities, Scan Engines, and Components Thereof, DN 3570,” filed on behalf of Honeywell International (HON); Hand Held Products, Inc.; and Metrologic Instruments, Inc. on September 29. The complaint alleges violations of section 337 of the Tariff Act of 1930 in the importation into the United States, the sale for importation, and the sale within the United States after importation of specific barcode scanners, mobile computers with barcode scanning capabilities, scan engines, and components thereof. The complainant names as respondents Zebra Technologies (ZBRA) and Symbol Technologies. The complainant requests that the Commission issue a limited exclusion order, cease and desist orders, and impose a bond upon respondents alleged infringing articles during the 60-day Presidential review period according to 19 USC 1337(j). The Commission is soliciting comments on any public interest issues raised by the complaint or complainant’s filing according to the Commission’s Rules of Practice and Procedure, it noted. Source: https://www.usitc.gov/secretary/fed_reg_notices/337/dn_3570_notice_09302021sgl.pdf
VIDEO Empower the Front Line with Zebra
Zebra Technologies writes, “As digital innovation transforms the edge of the enterprise, Zebra Technologies enables businesses in a variety of industries to keep up with rising customer expectations by making every asset and worker visible, connected and fully optimized. Our robust portfolio of devices, software, services, and solutions help your people work in more intuitive, flexible, and intelligent ways so you can put your data to work to uncover new possibilities.”
ZBRA Stock Technical Analysis
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