Motorola Solutions ( (MSI) ) has released its Q3 earnings. Here is a breakdown of the information Motorola Solutions presented to its investors.
Motorola Solutions is a global leader in mission-critical communications and analytics, providing technology solutions for public safety and enterprise security. The company operates primarily in the telecommunications and data solutions sector, known for its innovation in communication systems and public safety software.
Motorola Solutions has reported robust financial results for the third quarter of 2024, showcasing impressive growth across its segments. The company saw a 9% increase in sales to $2.8 billion compared to the previous year, marking a record for the quarter. This performance has led the company to revise its full-year revenue and earnings outlook upwards, reflecting strong business momentum.
Key highlights from the report include a 22% increase in GAAP earnings per share to $3.29 and a 17% rise in non-GAAP EPS to $3.74. The Products and Systems Integration segment showed an 11% growth in sales, while the Software and Services segment rose by 7%, with a notable 13% increase when excluding U.K. Home Office sales. Operating cash flow improved by $45 million, reaching $759 million. In strategic moves, Motorola Solutions completed several acquisitions, including an international command center software provider, to bolster its command center capabilities.
The company’s successful quarter is further evidenced by its operating margin improvements and effective tax rate reductions. Additionally, the company secured significant contracts, such as a $191 million five-year Land Mobile Radio services contract with the U.S. Navy, showcasing strong demand for its solutions.
Looking forward, Motorola Solutions remains optimistic about its growth trajectory, raising its full-year revenue growth expectation to 8.25%. The management is confident in maintaining the momentum through strategic investments and acquisitions, continuing to enhance its portfolio and market presence.
