NYSE$MSI
Motorola Solutions, Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Motorola Solutions reported strong Q1 2024 results, raising full-year revenue and earnings outlook.
Motorola Solutions reported a strong first quarter with a 10% increase in sales to $2.4 billion, driven by growth in both Products and Systems Integration and Software and Services segments. The company raised its full-year revenue and earnings outlook following these results.
- Sales reached $2.4 billion, a 10% increase year-over-year, with Products and Systems Integration up 14% and Software and Services up 4%.
- GAAP earnings per share (EPS) was ($0.23), including a ($3.42) loss from settlement accounting for the Silver Lake convertible debt.
- Non-GAAP EPS was $2.81, a 27% increase compared to the previous year.
- The company achieved a record Q1 operating cash flow of $382 million, up $390 million year-over-year, and a record ending backlog of $14.4 billion, up 2% year-over-year.
Headline financials
Revenue & EPS history
Motorola · Revenue · Quarterly
$2.39B
Revenue by segment
Motorola · $2.56B total across 2 segments · Q3 2023
- Products & Systems Integration$1.61B+5.4%63.1%
- Software & Services$944M+11.8%36.9%
Forward guidance
The company expects revenue growth between 7% and 8% for the second quarter of 2024, and non-GAAP EPS in the range of $2.97 to $3.02 per share. For the full year 2024, the company now expects revenue growth of approximately 7% and non-GAAP EPS of between $12.98 and $13.08 per share.
Tailwinds
- Revenue growth expected between 7% and 8% for Q2 2024.
- Non-GAAP EPS expected in the range of $2.97 to $3.02 per share for Q2 2024.
- Full-year 2024 revenue growth expected to be approximately 7%.
- Full-year 2024 non-GAAP EPS expected to be between $12.98 and $13.08 per share.
- Assumes approximately 170 million fully diluted shares and a non-GAAP effective tax rate of approximately 24%.
Headwinds
- Guidance does not quantitatively reconcile forward-looking non-GAAP metrics to their most comparable GAAP measures.
- Reconciling items could significantly impact the company’s results.
- Assumes approximately $30 million of foreign exchange headwinds.
- Assumes a fully diluted share count between 170 million and 171 million shares.
- Assumes a non-GAAP effective tax rate between 23% and 24%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.9%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+4.2%
Avg return
30 days after
59%
43 / 73 earnings
Positive
+12.4%
Q4 2018
Best reaction
-9.3%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.1% | -8.7% | -5.2% | |
| Q4 2025 | +7.7% | +8.7% | +12.3% | |
| Q3 2025 | -9.3% | -8.7% | -14.4% | |
| Q2 2025 | +1.9% | +5.6% | +7.6% | |
| Q1 2025 | -7.6% | -5.5% | -5.4% | |
| Q4 2024 | -6.0% | -5.8% | -10.3% | |
| Q3 2024 | +7.6% | +6.0% | +4.4% | |
| Q2 2024 | +2.9% | +1.0% | +10.8% | |
| Q1 2024 | +5.3% | +6.6% | +8.6% | |
| Q4 2023 | +0.9% | -2.7% | +2.3% | |
| Q3 2023 | +6.7% | +8.7% | +16.0% | |
| Q2 2023 | -3.1% | -3.4% | -1.4% | |
| Q1 2023 | -2.4% | -0.7% | -2.0% | |
| Q4 2022 | +5.2% | +4.8% | +1.3% | |
| Q3 2022 | +6.2% | +7.0% | +13.7% | |
| Q2 2022 | +4.9% | +4.5% | +2.2% | |
| Q1 2022 | +6.6% | +5.7% | +3.6% | |
| Q4 2021 | -6.1% | -9.6% | -6.2% | |
| Q3 2021 | -2.1% | -1.3% | -1.8% | |
| Q2 2021 | +2.6% | +3.1% | +9.9% | |
| Q1 2021 | +7.2% | +8.6% | +13.0% | |
| Q4 2020 | +1.5% | +2.1% | -0.3% | |
| Q3 2020 | -3.9% | +0.9% | +5.5% | |
| Q2 2020 | +4.3% | +3.3% | +10.6% | |
| Q1 2020 | -3.0% | -3.0% | +15.2% | |
| Q4 2019 | +1.6% | +4.4% | -0.4% | |
| Q3 2019 | +1.0% | -2.5% | +1.5% | |
| Q2 2019 | +2.5% | +3.4% | +9.0% | |
| Q1 2019 | +0.6% | -0.7% | +5.1% | |
| Q4 2018 | +12.4% | +13.9% | +15.3% | |
| Q3 2018 | +5.1% | +2.7% | +7.1% | |
| Q2 2018 | -2.7% | +0.1% | +6.2% | |
| Q1 2018 | +0.4% | +0.2% | +1.4% | |
| Q4 2017 | +4.4% | +3.3% | +6.9% | |
| Q3 2017 | +4.1% | +1.7% | +2.7% | |
| Q2 2017 | -0.1% | -2.0% | -2.8% | |
| Q1 2017 | -2.2% | -1.9% | +0.3% | |
| Q4 2016 | +2.0% | -3.4% | +0.6% | |
| Q3 2016 | +6.1% | +9.8% | +11.1% | |
| Q2 2016 | +6.1% | +7.2% | +12.5% | |
| Q1 2016 | -5.0% | — | — | |
| Q4 2015 | +7.2% | — | — | |
| Q3 2015 | -5.5% | — | — | |
| Q2 2015 | +5.9% | — | — | |
| Q1 2015 | +2.4% | — | — | |
| Q4 2014 | -0.0% | — | — | |
| Q3 2014 | -0.3% | — | — | |
| Q2 2014 | -4.5% | — | — | |
| Q1 2014 | +3.0% | — | — | |
| Q4 2013 | -2.6% | — | — | |
| Q3 2013 | +3.4% | — | — | |
| Q2 2013 | +0.7% | — | — | |
| Q1 2013 | -8.7% | — | — | |
| Q4 2012 | +0.9% | — | — | |
| Q3 2012 | +0.5% | — | — | |
| Q2 2012 | +4.8% | — | — | |
| Q1 2012 | -0.0% | — | — | |
| Q4 2011 | +3.0% | — | — | |
| Q3 2011 | +3.6% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q1 2011 | -0.2% | — | — | |
| Q4 2010 | -2.3% | — | — | |
| Q3 2010 | +0.4% | — | — | |
| Q2 2010 | -0.7% | — | — | |
| Q1 2009 | -3.2% | — | — | |
| Q1 2010 | +1.4% | — | — | |
| Q4 2009 | -0.6% | — | — | |
| Q3 2009 | +2.5% | — | — | |
| Q3 2008 | +2.5% | — | — | |
| Q2 2009 | -2.5% | — | — | |
| Q2 2008 | -2.5% | — | — | |
| Q4 2007 | -2.5% | — | — | |
| Q4 2008 | -2.5% | — | — |
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