Motorola Solutions Q1 sales up 10% YoY; raises full-year revenue and earnings outlook

Motorola Solutions, Inc.

2024-Q1 EPS reported -$0.23 revenue$2,389,000,000

Sales $2.4B (+10% YoY); Products & Systems Integration +14%, Software & Services +4% (ex-U.K. Home Office +12%).
Non-GAAP EPS $2.81 (+27% YoY); GAAP EPS ($0.23) includes ($3.42) loss on Silver Lake convertible settlement.
Record Q1 operating cash flow $382M (up $390M YoY); ending backlog $14.4B (record); S&P and Fitch upgraded ratings to BBB.
Issued $1.3B long-term debt, settled Silver Lake convertible in cash; acquired Silent Sentinel (long-range cameras).
Raised full-year revenue and earnings guidance citing robust backlog and strong balance sheet.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Motorola Solutions, Inc. reported the first quarter of 2024 results: revenue $2,389, EPS ($0.23). Guidance raised.

Period: the first quarter of 2024
Revenue: $2,389
EPS: ($0.23)
Guidance: raised
Result: reported results

Exact text from the filing

our revenue and earnings expectations for the full year.” KEY FINANCIAL RESULTS (presented in millions, except per share data and percentages) Q1 2024 Q1 2023 % Change Sales $2,389 $2,171 10 % GAAP Operating Earnings $519 $399 30 % % of Sales 21.7 % 18.4 % EPS ($0.23) $1.61 (114) % Non-GAAP 3 Operating Earnings $638 $532 20 % % of Sales 26.7 % 24.5 % EPS

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Source: SEC EDGAR

accession 0000068505-24-000014

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