Zebra Technologies raises annual forecast on strong demand for automation products

• The company raised its full-year sales growth forecast to a range of 14% to 16%, from 10% to 14% earlier.
• Zebra raised its full-year adjusted earnings forecast to between $20.75 and $21.25 per share, from its previous outlook of an $18.30-$18.70 range.
• Zebra said last year it plans to continue investing in technologies including AI, which it believes will help automate workflows and improve decision-making.
• The company expects full-year free cash flow of more than $1 billion.

• The company posted second-quarter revenue of $1.56 billion, topping analysts' average estimate of $1.50 billion, according to data compiled by LSEG.
• Adjusted earnings per share came in at $6.35, above estimates of $4.36.
• Zebra forecast third-quarter sales growth of 17% to 20%, above analysts' estimate of 13.9%.
• The upbeat outlook was supported by "strong demand momentum" and progress on productivity and memory supply, CEO Bill Burns said, adding that Zebra continued to benefit from trends in automation and Physical AI.

Aug. 4 (Reuters) - Zebra Technologies raised its annual sales and adjusted earnings forecast on Tuesday as demand for products that help businesses automate warehouses, stores and supply chains remained strong.

Shares of the Lincolnshire, Illinois-based company were on track to report their biggest single-day percentage gain since July 2000. They were last up about 20%.