Record Q1 revenue, operating earnings and ending backlog; raises full-year earnings outlook
- Revenue of $1.7 billion, up 13% from a year ago
- Operating cash flow of $251 million, up $751 million* from a year ago
- GAAP earnings per share (EPS) of $0.86, up 25%
- Non-GAAP EPS** of $1.28, up 16%
- Backlog of $10.4 billion, up $781 million from a year ago
CHICAGO — (BUSINESS WIRE) — May 2, 2019 — Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the first quarter of 2019. Click here for a printable news release and financial tables.
"Q1 was another outstanding quarter, with record first-quarter revenue, operating earnings and ending backlog,” said Greg Brown, chairman and CEO of Motorola Solutions. “We are well positioned for 2019 with continued demand across our platforms.”
KEY FINANCIAL RESULTS (presented in millions, except per share data and percentages)
| Q1 2019 | Q1 2018 | % Change | |||||||
| Sales | $1,657 | $1,468 | 13 | % | |||||
| GAAP | |||||||||
| Operating Earnings | $229 | $171 | 34 | % | |||||
| % of Sales | 13.8 | % | 11.6 | % | |||||
| EPS | $0.86 | $0.69 | 25 | % | |||||
| Non-GAAP | |||||||||
| Operating Earnings | $315 | $260 | 21 | % | |||||
| % of Sales | 19.0 | % | 17.7 | % | |||||
| EPS | $1.28 | $1.10 | 16 | % | |||||
| Products and Systems Integration Segment | |||||||||
| Sales | $1,069 | $952 | 12 | % | |||||
| GAAP Operating Earnings | $108 | $90 | 20 | % | |||||
| % of Sales | 10.1 | % | 9.5 | % | |||||
| Non-GAAP Operating Earnings | $147 | $125 | 18 | % | |||||
| % of Sales | 13.8 | % | 13.1 | % | |||||
| Services and Software Segment | |||||||||
| Sales | $588 | $516 | 14 | % | |||||
| GAAP Operating Earnings | $121 | $81 | 49 | % | |||||
| % of Sales | 20.6 | % | 15.7 | % | |||||
| Non-GAAP Operating Earnings | $168 | $135 | 24 | % | |||||
| % of Sales | 28.6 | % | 26.2 | % | |||||
