Motorola Solutions ( NYSE: MSI ) stock rose ~5% on Friday after Q4 results beat estimates.
Q4 non-GAAP EPS rose +26.3% Y/Y to $3.60, while sales grew +16.6% Y/Y to ~$2.71B. Both top and bottom line surpassed analysts estimates.
"We achieved all-time Q4 records in sales, operating earnings, earnings per share and cash flow, highlighting the strong demand we continue to see for our public safety and enterprise security solutions," said Motorola Chairman and CEO Greg Brown.
The company noted that revenue from acquisitions was $39M, and currency headwinds were $87M.
The Products and Systems Integration segment sales grew +21% Y/Y to $1.8B, due to growth in land mobile radio (LMR) and video security and access control (Video).
Meanwhile, sales from the the Software and Services segment rose +8.61% Y/Y to $896M, due to growth in LMR services, Video and Command center, according to the company.
Operating cash flow was $1.3B, up $570M compared to the year-ago quarter.
Outlook :
"Our record backlog and a robust funding environment position us exceptionally well going forward," added Brown.
Q1 : Motorola expects revenue growth between 12% and 13%, compared to Q1 2022.
The company expects non-GAAP EPS in the range of $2.02 to $2.07 ( consensus $2.04).
Full year 2023 : Motorola expects revenue between $9.65B and $9.7B ( consensus $9.68B).
The company expects non-GAAP EPS in the range of $11.10 to $11.22 (consensus $11.20).
For further details see:
Motorola stock rises with 'all-time Q4 records in sales,' provides outlook