2023-08-03 16:38:08 ET
- Motorola Solutions press release ( NYSE: MSI ): Q2 Non-GAAP EPS of $2.65 beats by $0.13 .
- Revenue of $2.4B (+12.1% Y/Y) beats by $40M .
- Non-GAAP operating margin* of 26.7%, up 350 bps versus a year ago
- Record Q2 ending backlog of $14.3 billion, up 6% versus a year ago, driven by record Q2 orders in both segments.
- Outlook: Third quarter 2023 - The company expects revenue growth of approximately 6%, compared to the third quarter of 2022. The company expects non-GAAP EPS in the range of $2.99 to $3.04 per share. This assumes approximately 172 million fully diluted shares and a non-GAAP effective tax rate between 23% and 24%.
- Full-year 2023 - The company now expects revenue in the range of $9.875 billion to $9.900 billion, up from its prior guidance of $9.725 billion to $9.775 billion, and non-GAAP EPS of between $11.40 and $11.48 per share, up from its prior guidance of between $11.21 and $11.29 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 $2.65 beats by $0.13, revenue of $2.4B beats by $40M