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Jun 29, 2024
Motorola Q2 2024 Earnings Report
Motorola Solutions reported strong Q2 2024 results, with increased revenue and earnings, and raised full-year outlook.
Key Takeaways
Motorola Solutions reported an excellent second quarter with strong growth in all three technologies, achieving record Q2 sales of $2.6 billion, up 9% year-over-year, and GAAP earnings per share of $2.60, up 21% year-over-year. The company raised its full-year revenue and earnings expectations due to strong business momentum.
Sales were $2.6 billion, up 9% versus a year ago.
GAAP earnings per share was $2.60, up 21% versus a year ago
Non-GAAP EPS was $3.24, up 22% versus a year ago
Operating cash flow was $180 million, up $87 million versus a year ago
Motorola
Motorola
Motorola Revenue by Segment
Revenue by Segment
Products & Integration Revenue
CapyFin.comSoftware & Services Revenue
CapyFin.com Forward Guidance
The company expects revenue growth between 7% and 8% compared to the third quarter of 2023. The company expects non-GAAP EPS in the range of $3.32 to $3.37 per share. For the full year 2024, the company now expects revenue growth of approximately 8% and non-GAAP EPS of between $13.22 and $13.30 per share.
Positive Outlook
- Revenue growth between 7% and 8% compared to Q3 2023
- Non-GAAP EPS in the range of $3.32 to $3.37 per share for Q3 2024
- Full-year 2024 revenue growth of approximately 8%
- Full-year 2024 non-GAAP EPS of between $13.22 and $13.30 per share
- Assumes approximately 171 million fully diluted shares and a non-GAAP effective tax rate of approximately 23.5% for full year
Challenges Ahead
- Guidance has not been quantitatively reconciled for forward-looking non-GAAP metrics to their most comparable GAAP measures
- The company does not provide specific guidance for the various reconciling items as certain items that impact these measures have not occurred, are out of the company’s control, or cannot be reasonably predicted.
- A reconciliation to the most comparable GAAP financial metric is not available without unreasonable effort.
- The unavailable reconciling items could significantly impact the company’s results.
- Guidance assumes approximately 170 million fully diluted shares and a non-GAAP effective tax rate of approximately 24% for Q3 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income