Motorola Solutions reports Q2 earnings beat; raises FY22 guidance and issues Q3 outlook

Aug. 04, 2022 4:59 PM ETMotorola Solutions, Inc. (MSI)By: Meghavi Singh, SA News Editor3 Comments
  • Motorola Solutions press release (NYSE:MSI): Q2 Non-GAAP EPS of $2.07 beats by $0.20.
  • Revenue of $2.1B (+6.6% Y/Y) beats by $40M.
  • Record Q2 ending backlog of $13.4B, up 19% versus a year ago.
  • Non-GAAP operating margin was 23.2% of sales, down from 24.4% in the year-ago quarter.
  • The non-GAAP effective tax rate was 22.3%, up from 20.5% in the year-ago quarter, driven primarily by lower benefits from discrete items in the current quarter.
  • The company ended the quarter with record Q2 backlog of $13.4 billion, up 19% or $2.2 billion from the year-ago quarter, inclusive of $496 million of unfavorable currency.
  • Third quarter 2022 - The company expects revenue growth of approximately 10% vs. estimated growth of 6.95% Y/Y, compared to the third quarter of 2021. The company expects non-GAAP EPS in the range of $2.85 to $2.90 per share vs. consensus of $2.76 and an effective tax rate of approximately 20%.
  • Full-year 2022 - The company now expects revenue growth of approximately 8%, up from its prior guidance of approximately 7% vs. estimated growth of 7.09% Y/Y and non-GAAP EPS between $10.03 and $10.13 per share vs. consensus of $9.86, up from its prior guidance of between $9.80 and $9.95 per share and an effective tax rate of 21% to 21.5%.

Recommended For You

Comments (3)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.