Motorola Q3 2022 Earnings Report
Key Takeaways
Motorola Solutions reported Q3 2022 financial results with sales of $2.4 billion, up 13% versus a year ago. GAAP EPS was $1.63, down 7% from a year ago, while non-GAAP EPS was $3.00, up 28% versus a year ago. The company raised its full-year revenue and earnings outlook.
Sales of $2.4 billion, up 13% versus a year ago.
Products and Systems Integration sales up 15%.
Software and Services sales up 8%.
Record Q3 ending backlog of $13.5 billion, up 19% versus a year ago.
Motorola
Motorola
Motorola Revenue by Segment
Forward Guidance
The company expects revenue growth of approximately 9% for the fourth quarter of 2022, compared to the fourth quarter of 2021, and non-GAAP EPS in the range of $3.40 to $3.45 per share. For the full year 2022, the company now expects revenue growth of between 9.25% and 9.5%, and non-GAAP EPS of between $10.17 and $10.22 per share.
Challenges Ahead
- Assumes approximately $90 million in foreign exchange headwinds for Q4 2022.
- Assumes approximately 172 million fully diluted shares for Q4 2022.
- Assumes an effective tax rate of approximately 23% for Q4 2022.
- Assumes approximately $220 million in foreign exchange headwinds for full year 2022.
- Assumes approximately 172 million fully diluted shares for full year 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income