Q4 2024 Motorola Solutions Inc Earnings Call Transcript
Key Points
- Motorola Solutions Inc (MSI) achieved record revenue in both segments and all three technologies, with double-digit growth in Video and Command Center.
- The company ended the year with a record backlog of $14.7 billion, despite unfavorable currency rates.
- Full-year revenue was up 8%, with strong growth in both segments and across all three technologies.
- Motorola Solutions Inc (MSI) increased its dividend by 11%, marking the fourteenth consecutive year of double-digit increases.
- The company expects another year of strong revenue, earnings per share, and cash flow growth in 2025, supported by robust demand and a healthy balance sheet.
- GAAP earnings per share decreased from $9.93 to $9.23 due to a pre-tax loss related to the settlement of the Silver Lake convertible notes.
- Operating expenses increased by $197 million for the full year, driven by higher employee incentives, acquisition expenses, and legal costs.
- International revenue declined by 2% for the full year, primarily due to lower revenue from Ukraine and the exit from ESN.
- The Software & Services segment saw a decline in operating margins by 310 basis points due to the Airwave Charge Control and higher expenses from acquisitions.
- The company faces $120 million in foreign exchange headwinds for the full year 2025, impacting revenue growth expectations.
Good afternoon and thank you for holding.
Welcome to the Motorola Solutions' fourth-quarter 2024 earnings conference call.
Today's call is being recorded. If you have any objections, please disconnect, at this time.
The presentation material and additional financial tables are posted on the Motorola Solutions' Investor Relations website. In addition, a webcast replay of this call will be available, on our website, within three hours after the conclusion of the call.
The website address is www.motorolasolutions.com/investor.
(Operator Instructions)
I would now like to introduce Mr. Tim Yocum, Vice President of Investor Relations. Mr. Yocum, you may begin your conference.
Good afternoon. Welcome to our 2024 fourth-quarter earnings call.
With me, today, are Greg Brown, Chairman and CEO; Jason Winkler, Executive Vice President and CFO; Jack Molloy, Executive Vice
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