Motorola Solutions, Inc. (NYSE:MSI ) Q3 2024 Results Conference Call November 7, 2024 5:00 PM ET Company Participants Tim Yocum - Vice President of Investor Relations Greg Brown - Chairman and Chief Executive Officer Jason Winkler - Executive Vice President and Chief Financial Officer Jack Molloy - Executive Vice President and Chief Operating Officer Mahesh Saptharishi - Executive Vice President and Chief Technology Officer Conference Call Participants Ben Bollin - Cleveland Research Adam Tindle - Raymond James Joseph Cardoso - JPMorgan Alyssa Shreves - Barclays Amit Daryanani - Evercore Rodney McFall - Northcoast Research Tomer Zilberman - Bank of America Meta Marshall - Morgan Stanley Bryce Sandberg - William Blair Operator Good afternoon, and thank you for holding. Welcome to the Motorola Solutions Third Quarter 2024 Earnings Conference Call.
Although the revenue and EPS for Motorola (MSI) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Motorola (MSI) came out with quarterly earnings of $3.74 per share, beating the Zacks Consensus Estimate of $3.38 per share. This compares to earnings of $3.19 per share a year ago.
Safety and enterprise security services provider Motorola Solutions raised its full-year revenue and profit forecasts on Thursday, as clients turn to the firm for its security-focused telecommunication products.
Motorola Solutions stock price has been firing on all cylinders in the past few years even as many people have largely forgotten about it. It soared to a record high of $480 this week, bringing the year-to-date gains to 50%, meaning that it is outperforming most tech stocks.
Motorola is expected to have seen y/y top-line growth in the third quarter, driven by solid demand across video security and services and land mobile radio products.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Motorola (MSI), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended September 2024.
Motorola's cutting-edge solutions are used by the Glendale Police Department to expedite response during critical incidents in the United States.
Singapore's leading public transport operator has opted to deploy Motorola's TETRA system to bolster its radio communication infrastructure and enhance railway operations.
U.K.-based agency Tyne and Wear Fire and Rescue Service selects Motorola's advanced solution to strengthen their emergency response capabilities and streamline workflows.
Motorola Solutions reported record sales and operating profits, driven by robust growth in Video Security and Land Mobile Radio Communications, with a reiterated 'Buy' rating and $460 fair value. Video and LMR segments grew 10% and 9% YoY, respectively, supported by strong demand for public safety and innovative product launches. Motorola's future growth is expected from the APX NEXT refresh cycle, new product launches like VESTA NXT and TETRA MXP660, and advancements in cloud solutions.
Motorola (MSI) is set to deploy more than 1,200 advanced VB400 body cameras to the German Federal State of Thuringia. The solution will significantly boost the situational awareness and safety of police officers.