Motorola Solutions(MSI)
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Motorola Solutions(MSI) - 2022 Q4 - Annual Report
2023-02-15 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-K _____________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File number 1-7221 _____________________________ MOTOROLA SOLUTIONS, INC. (Exact name of registrant ...
Motorola Solutions(MSI) - 2022 Q4 - Earnings Call Presentation
2023-02-10 00:51
11 % Net sales Loss on ESN fixed asset impairment Non-GAAP gross margin Reorganization of business charges GAAP OE % Non-GAAP below OE highlighted items" Non-GAAP below OE highlighted items Motorola Solutions, Inc. and Subsidiaries Non-GAAP Trend (In millions, except for per share amounts) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------------|-------|--------------|-------------|---------------|-------|-------------|----------|-------- ...
Motorola Solutions (MSI) Investor Presentation - Slideshow
2022-12-09 14:31
MOTOROLA SOLUTIONS 1 INVESTOR OVERVIEW NOVEMBER 2022 ● Investment Thesis ● Total Addressable Market ● Who We Serve ● Segments and Technologies ● Financials ● Capital Allocation Communications 2 38% of 2021 revenue from Software & Services, a proxy for ARR 112% Annual Free Cash Flow Conversion Avg. Since 2015 18% CAGR Non-GAAP EPS Growth Since 2015 We are the global leader in public safety and enterprise security solutions Video Security and Access Control LMR Command Center Software 5M+ fixed video cameras ...
Motorola Solutions(MSI) - 2022 Q3 - Earnings Call Transcript
2022-11-04 02:01
Financial Data and Key Metrics Changes - Revenue grew by 13% year-over-year, with earnings per share (EPS) increasing by 28% and operating margins expanding by 220 basis points [8][31] - The ending backlog reached a record $13.5 billion, up 19% from the previous year, despite a $800 million unfavorable currency impact [9][31] - GAAP operating earnings were $373 million, with a non-GAAP operating margin of 28.5%, up from 26.3% [12][31] Business Line Data and Key Metrics Changes - Products and Systems Integration segment revenue increased by 15%, driven by strong demand for video security and land mobile radio technologies [9][17] - Software and Services revenue rose by 8%, with a 13% increase when normalized for foreign exchange [9][21] - Video security and access control technologies saw a remarkable 33% growth [11] Market Data and Key Metrics Changes - North America revenue was $1.7 billion, up 16%, while international revenue was $686 million, up 4% [23] - The backlog in the Products and Systems Integration segment increased by 35% year-over-year, while Software and Services backlog rose by $876 million [26][27] Company Strategy and Development Direction - The company is focusing on investing in new products and strengthening its ecosystem, with recent expansions in the APX NEXT device portfolio and new video integrations [32] - The management emphasized the importance of navigating supply chain challenges and maintaining high inventory levels to meet record demand [30][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand environment and robust funding, projecting revenue growth of approximately 9.25% to 9.5% for the full year [29] - The company anticipates continued semiconductor supply chain challenges into 2023, which will affect inventory levels and operational strategies [40][41] Other Important Information - The company closed the acquisition of Barrett Communications for $18 million during the quarter [16] - Full-year foreign exchange headwinds are now expected to total about $220 million, an increase from previous estimates [29] Q&A Session Summary Question: Clarification on exiting the ESN contract - Management indicated that exiting the ESN contract is a result of ongoing negotiations and is likely to occur before the end of 2024, with mutual interest in reaching a conclusion [37][38] Question: Impact of ESN exit on Airwave negotiations - Management clarified that while the ESN exit is related to Airwave, they are separate issues, and they continue to engage with the CMA regarding the Airwave contract [46][47] Question: Supply chain dynamics and backlog - Management acknowledged ongoing semiconductor supply constraints but noted that they are managing to meet record demand through higher inventory and increased spending on parts [53][54] Question: Price increases and inflation impact - Management confirmed that price increases have been implemented across the portfolio, which will support growth in the second half of the year [64] Question: Revenue from stimulus funds - Management reported $200 million in revenue tied to the American Rescue Plan year-to-date, with expectations for continued funding through 2024 [87][88] Question: Growth expectations for 2023 - Management provided a directional revenue expectation of about $9.5 billion for 2023, with anticipated growth across all three technologies [39][94]
Motorola Solutions(MSI) - 2022 Q3 - Earnings Call Presentation
2022-11-03 23:12
A MOTOROLA SOLUTIONS EARNINGS PRESENTATION Q3 2022 RESULTS | November 3, 2022 SAFE HARBOR A number of forward-looking statements will be made during this presentation. Forward-looking statements are any statements that are not historical facts. These forward-looking statements are based on the current expectations of Motorola Solutions, and we can give no assurance that any future results or events discussed in these statements will be achieved. Any forward-looking statements represent our views only as of ...
Motorola Solutions(MSI) - 2022 Q2 - Earnings Call Transcript
2022-08-05 01:20
Motorola Solutions, Inc. (NYSE:MSI) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Tim Yocum - VP, IR Gregory Brown - Chairman & CEO Jason Winkler - EVP & CFO John Molloy - EVP & COO Mahesh Saptharishi - EVP & CTO Conference Call Participants George Notter - Jefferies Erik Lapinski - Morgan Stanley Adam Tindle - Raymond James & Associates Keith Housum - Northcoast Research Partners Michael DiPalma - William Blair & Company Paul Silverstein - Cowen and Company Sami Badri - Cr ...
Motorola Solutions(MSI) - 2022 Q1 - Earnings Call Transcript
2022-05-13 00:20
Motorola Solutions, Inc. (NYSE:MSI) Q1 2021 Earnings Conference Call May 12, 2022 5:00 PM ET Company Participants Tim Yocum - VP, IR Gregory Brown - Chairman & CEO Jason Winkler - EVP & CFO John Molloy - EVP & COO Mahesh Saptharishi - EVP & CTO Conference Call Participants Keith Housum - Northcoast Research Partners George Notter - Jefferies Paul Silverstein - Cowen and Company Meta Marshall - Morgan Stanley Sami Badri - Credit Suisse Ben Bollin - Cleveland Research Fahad Najam - Loop Capital Louie DiPalma ...
Motorola Solutions(MSI) - 2022 Q1 - Earnings Call Presentation
2022-05-12 21:54
A MOTOROLA SOLUTIONS EARNINGS PRESENTATION Q1 2022 RESULTS | May 12, 2022 SAFE HARBOR A number of forward-looking statements will be made during this presentation. Forward-looking statements are any statements that are not historical facts. These forward-looking statements are based on the current expectations of Motorola Solutions, and we can give no assurance that any future results or events discussed in these statements will be achieved. Any forward-looking statements represent our views only as of toda ...
Motorola Solutions(MSI) - 2021 Q4 - Annual Report
2022-02-16 22:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-K _____________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File number 1-7221 _____________________________ MOTOROLA SOLUTIONS, INC. (Exact name of registrant ...
Motorola Solutions(MSI) - 2021 Q4 - Earnings Call Transcript
2022-02-10 07:46
Financial Data and Key Metrics Changes - Q4 revenue was $2.3 billion, up 2%, including $10 million from acquisitions and $6 million from favorable currency [13] - GAAP operating earnings were $549 million with operating margins at 23.7%, compared to 24.4% in the previous year [13] - Non-GAAP operating earnings were $670 million, up $3 million, with non-GAAP operating margins at 28.9%, down 40 basis points due to higher operating expenses [13] - For the full year, revenue was $8.2 billion, up 10%, with GAAP operating earnings at $1.7 billion, or 20.4% of sales, compared to 18.7% in the prior year [15] - Non-GAAP earnings per share was $9.15, up 19% from $7.69 in 2020 [16] Business Line Data and Key Metrics Changes - Products and Systems Integration Q4 sales were $1.5 billion, down 1%, impacted by supply constraints [21] - Software and Services Q4 revenue was $824 million, up 8%, driven by growth in LMR services and video security software [24] - For the full year, Software and Services revenue was $3.1 billion, up 13%, with operating earnings at $1.1 billion or 36.4% of sales, up 210 basis points [26] Market Data and Key Metrics Changes - North America Q4 revenue was $1.6 billion, up 4%, while international revenue was $705 million, down 3% [27] - For the full year, North America revenue was $5.6 billion, up 11%, and international revenue was $2.6 billion, up 9% [27] Company Strategy and Development Direction - The company aims for approximately 7% sales growth in 2022, with mid-single-digit growth in Products and Systems Integration and about 10% growth in Software and Services [31] - Continued investment in video security and command center software is a priority, with recent acquisitions enhancing capabilities [35] - The company is navigating supply chain challenges, particularly in semiconductor procurement, while maintaining strong demand across all technologies [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong demand and backlog, with a record backlog of $13.6 billion, up 19% year-over-year [10][28] - The supply chain environment remains challenging, particularly due to semiconductor shortages, impacting margins in Q1 and Q2 [36][90] - The funding environment for customers is strong, with significant opportunities from government contracts and stimulus funding [75][76] Other Important Information - The company returned approximately $1 billion to shareholders through share repurchases and dividends in 2021 [35] - The effective tax rate for 2021 was 21%, compared to 20% in the prior year [17] Q&A Session Summary Question: Can you talk about the Airwave extension and its economics? - The Airwave contract was extended by 4 years at existing pricing, reflecting its importance for British first responders [44] Question: What is the outlook for the video security market? - Video security and access control grew 32% in 2021, with expectations for approximately 20% growth in 2022 [47] Question: Are there supply chain issues beyond semiconductors? - The primary challenges are related to semiconductors, with elevated freight costs also impacting the supply chain [70] Question: How does the backlog pricing work? - Backlog pricing is largely fixed and cannot be repriced, which will impact margins in Q1 and Q2 [60] Question: What is the impact of the criminal actions against Hytera? - The criminal indictment against Hytera is expected to increase pressure on them, potentially affecting their operations in the U.S. [95]