Motorola Solutions Delivers Record-Breaking Quarter Amid Robust Demand for Safety and Security Ecosystem
Motorola Solutions, a leading provider of mission-critical communications and data solutions, has delivered an exceptional fourth quarter in 2024. The company's results demonstrate its strong position in the safety and security ecosystem, with record revenue in both segments and all three technologies.
During the Q4 earnings call, Chairman and CEO Greg Brown highlighted that the company achieved double-digit growth in video and command center, emphasizing the depth and breadth of its safety and security ecosystem. This success is attributed to the company's ability to protect people, property, and places through its comprehensive solutions. Additionally, Motorola Solutions generated record operating earnings in both segments and ended the year with a record backlog of $14.7 billion.
The full-year results were equally impressive, with revenue up 10% in the product and SI segment, driven by growth in both LMR and video. The company also expanded operating margins in this segment by 380 basis points, largely due to favorable mix and lower material costs. In the Software and Services segment, revenue was up 5%, or 13% excluding U.K. Home Office, with strong performance from Stroth in video, Command Center, and LMR services businesses outside of the U.S.
The company's robust demand for its solutions, coupled with a record backlog and healthy balance sheet, positions it well for another year of strong revenue, earnings per share, and cash flow growth. Motorola Solutions has also strengthened its safety and security offerings through four acquisitions in video and command center technologies. Furthermore, the company has announced a definitive agreement to acquire Teatro, a maker of AI and voice-powered communication and digital workflow software for frontline workers.
"We're pleased with our record-breaking quarter," said Greg Brown. "Our continued robust demand for our solutions, combined with a strong backlog and balance sheet, positions us well for another year of growth."
The company's non-GAAP operating earnings were $916 million, up 5% from the previous year, while non-GAAP EPS was $4.04, a 4% increase from last year. Motorola Solutions' commitment to innovation and customer satisfaction has led to this impressive performance, solidifying its position in the safety and security ecosystem.
Motorola Solutions' leadership team is confident about the company's prospects for 2025, citing continued strong demand for its solutions and a healthy balance sheet. As the company looks ahead, it is well-positioned to capitalize on emerging trends and opportunities in the safety and security market.
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