2023-05-04 16:18:21 ET
- Motorola Solutions press release ( NYSE: MSI ): Q1 Non-GAAP EPS of $2.22 beats by $0.17 .
- Revenue of $2.17B (+14.2% Y/Y) beats by $50M .
- Products and Systems Integration sales up 18%
- Software and Services sales up 10%
- Record Q1 ending backlog of $14.1 billion, up 5% versus a year ago
- Awarded $340 million ten-year IDIQ contract from U.S. Air Force to provide LMR services
- Q2 Outlook: The company expects revenue growth between 10% and 11%, compared to the second quarter of 2022. The company expects non-GAAP EPS in the range of $2.49 to $2.54 per share. This assumes approximately 173 million fully diluted shares and a non-GAAP effective tax rate of approximately 24%.
- 2023 Outlook: The company now expects revenue in the range of $9.725 billion to $9.775 billion, up from its prior guidance of $9.65 billion to $9.7 billion, and non-GAAP EPS of between $11.21 and $11.29 per share, up from its prior guidance of between $11.10 and $11.22 per share. This outlook assumes approximately $25 million in foreign exchange headwinds, approximately 172 million fully diluted shares and a non-GAAP effective tax rate between 23% and 24%.
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Motorola Solutions Non-GAAP EPS of $2.22 beats by $0.17, revenue of $2.17B beats by $50M