Company raises full-year revenue and earnings outlook
- Sales of $1.6 billion, up 7 percent from a year ago
- Organic revenue1 growth of 5 percent; North America organic growth of 5 percent
- Record backlog of $8.9 billion, up $768 million, or 9 percent
- GAAP earnings per share (EPS) of $1.25, up 11 percent
- Non-GAAP EPS 2 of $1.53, up 12 percent
- Increasing quarterly dividend by 11 percent
CHICAGO — (BUSINESS WIRE) — November 2, 2017 — Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the third quarter of 2017. Click here for a printable news release and financial tables.
The company also today announced that its board of directors has increased its regular quarterly dividend by 11 percent to 52 cents per share. The next quarterly dividend will be payable in cash on Jan. 12, 2018, to stockholders of record at the close of business on Dec. 15, 2017.
“Q3 was another outstanding quarter of revenue and earnings growth,” said Greg Brown, chairman and CEO of Motorola Solutions. “I’m particularly pleased with our record backlog position, demonstrating continued strength of our Land Mobile Radio (LMR) business.”
KEY FINANCIAL RESULTS (presented in millions, except per share data and percentages)
| Q3 2017 | Q3 2016 | % Change | ||||||||||
| Sales | $1,645 | $1,532 | 7 | % | ||||||||
| GAAP | ||||||||||||
| Operating Earnings | $338 | $341 | (1 | )% | ||||||||
| % of Sales | 20.5 | % | 22.3 | % | ||||||||
| EPS | $1.25 | $1.13 | 11 | % | ||||||||
| Non-GAAP | ||||||||||||
| Operating Earnings | $423 | $396 | 7 | % | ||||||||
| % of Sales | 25.7 | % | 25.8 | % | ||||||||
| EPS | $1.53 | $1.37 | 12 | % | ||||||||
| Product Segment | ||||||||||||
| Sales | $989 | $920 | 8 | % | ||||||||
| GAAP Operating Earnings | $253 | $225 | 12 | % | ||||||||
| % of Sales | 25.6 | % | 24.5 | % | ||||||||
| Non-GAAP Operating Earnings | $287 | $243 | 18 | % | ||||||||
| % of Sales | 29.0 | % | 26.4 | % | ||||||||
| Services Segment | ||||||||||||
| Sales | $656 | $612 | 7 | % | ||||||||
| GAAP Operating Earnings | $85 | $116 | (27 | )% | ||||||||
| % of Sales | 13.0 | % | 19.0 | % | ||||||||
| Non-GAAP Operating Earnings | $136 | $153 | (11 | )% | ||||||||
| % of Sales | 20.7 | % | 25.0 | % | ||||||||
