Motorola Solutions, Inc


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SKU: MSI-1 Category:


Motorola Solutions delivered a solid result and managed an all-around beat in the last quarter. In the third quarter, Motorola witnessed an 8% increase in revenue, surpassing the provided guidance. The growth was evident in both segments, across all regions, and involving all three technologies. FX contributed positively with a $13 million tailwind, while acquisitions further bolstered revenue by $19 million. Motorola’s GAAP operating earnings reached $639 million, comprising 25% of sales, marking a significant improvement from the 15.7% reported in the same quarter last year. Non-GAAP operating earnings rose by 10% to $741 million, with a corresponding 29% non-GAAP operating margin, reflecting a 50 basis points increase. This was attributed to heightened sales, reduced material costs, and enhanced operating leverage, partially offset by a greater share of international product shipments and revenue deferral related to Airwave. The Products and SI segment experienced a 5% sales increase, while the Software and Services segment saw a 12% revenue growth, inclusive of the Airwave deferral. Regionally, North America’s Q3 revenue rose by 6% to $1.8 billion, driven by growth in all three technologies, while international Q3 revenue reached $773 million, up by 13% from the previous year. These positive projections reflect the company’s robust performance, strategic acquisitions, and effective management of operational challenges, including supply chain dynamics.

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⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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