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Apr 03, 2021
Motorola Q1 2021 Earnings Report
Motorola Solutions reported strong Q1 2021 results, with increased full-year revenue and EPS guidance.
Key Takeaways
Motorola Solutions reported an outstanding first quarter with record revenue, operating earnings, cash flow, and backlog. Sales were up 7% year-over-year, driven by growth in both North America and International markets. The company also raised its full-year revenue and EPS guidance.
Sales increased by 7% to $1.8 billion compared to the previous year.
Software and Services segment sales grew by 15% with expanded operating margins.
GAAP earnings per share (EPS) reached $1.41.
Backlog increased by 8% to $11.3 billion year-over-year.
Motorola
Motorola
Motorola Revenue by Segment
Revenue by Segment
Products & Integration Revenue
CapyFin.comSoftware & Services Revenue
CapyFin.com Forward Guidance
Motorola Solutions expects revenue growth of 19% to 20% for the second quarter of 2021, with non-GAAP earnings per share in the range of $1.90 to $1.95. For the full year 2021, the company now expects revenue growth of 8% to 9% and non-GAAP earnings per share in the range of $8.70 to $8.80.
Positive Outlook
- Revenue growth of 19% to 20% is expected for Q2 2021.
- Non-GAAP EPS is projected to be between $1.90 and $1.95 for Q2 2021.
- Full-year revenue growth is now expected to be 8% to 9%.
- Full-year non-GAAP EPS is projected to be between $8.70 and $8.80.
- Guidance assumes current foreign exchange rates and approximately 173 million fully diluted shares.
Challenges Ahead
- Guidance is based on current foreign exchange rates.
- Assumes approximately 173 million fully diluted shares.
- Effective tax rate of 23% to 24% is assumed for Q2 2021.
- Effective tax rate of 22.5% to 23% is assumed for the full year.
- Reconciliation to the most comparable GAAP financial metric is not available without unreasonable effort.
Revenue & Expenses
Visualization of income flow from segment revenue to net income