Zebra Technologies Corporation (NASDAQ:ZBRA) Q3 2024 Earnings Conference Call October 29, 2024 8:30 AM ET
Company Participants
Mike Steele - VP, IR
Bill Burns - CEO
Nathan Winters - CFO
Conference Call Participants
Andrew Buscaglia - BNP Paribas
Jamie Cook - Truist
Damian Karas - UBS
Tommy Moll - Stephens
Brad Hewitt - Wolfe Research
Keith Housum - Northcoast Research
Meta Marshall - Morgan Stanley
Brian Drab - William Blair
Rob Mason - Baird
Chris Grenga - Needham
Joe Giordano - TD Cowen
Guy Hardwick - Freedom Capital Markets
Operator
Good day, and welcome to the Third Quarter 2024 Zebra Technologies Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.
I would now like to turn the conference over to Mike Steele, Vice President, Investor Relations. Please go ahead.
Mike Steele
Good morning, and welcome to Zebra's third 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 factors discussed on our SEC filings.
During this call, we will reference non-GAAP financial measures as we describe our business performance. You can find reconciliations at the end of the slide presentation and in today's earnings press release.
Throughout this presentation, unless otherwise indicated, our references to sales performance are year-on-year and on a constant currency basis. This presentation will include prepared remarks from Bill Burns, our Chief Executive Officer; and Nathan Winters, our Chief Financial Officer. Bill will begin with a discussion of our third quarter results. Nathan will then provide additional detail on the financials and discuss our fourth quarter and revised full year outlook. Bill will conclude with progress on advancing our strategic priorities. Following the prepared remarks, Bill and Nathan will take your questions.
Now, let's turn to Slide 4, as I hand it over to Bill.
Bill Burns
Thank you, Mike. Good morning and thank you for joining us.
Our teams executed well in the third quarter delivering sales and earnings results above the high end of our outlook. For the quarter, we realized sales of almost $1.3 billion, a 31% increase compared to the prior year, and adjusted EBITDA margin of 21.4%, a 980 basis point increase. Non-GAAP diluted earnings per share of $3.49, which was 4x the prior year and delivered strong free cash flow.