Record Q4 and 2018 revenue, earnings per share and ending backlog
- Revenue of $2.3 billion, up 15 percent from Q4 in the prior year; up 15 percent for full year
- Backlog of $10.6 billion, up $988 million or 10 percent from a year ago
- Operating cash flow of $812 million, up $51 million from Q4 in the prior year
- GAAP earnings (loss) per share (EPS) of $2.44, up from ($3.56); $5.62 for full year, up from ($0.95)
- Non-GAAP EPS* of $2.63, up 25 percent; $7.15 for full year, up 31 percent
CHICAGO — (BUSINESS WIRE) — February 7, 2019 — Motorola Solutions, Inc. (NYSE: MSI) today reported its earnings results for the fourth quarter and full-year 2018. Click here for a printable news release and financial tables.
“From strong organic revenue growth and cash generation to record EPS and backlog, we delivered an outstanding 2018, capped by an excellent fourth quarter,” said Greg Brown, chairman and CEO, Motorola Solutions.
KEY FINANCIAL RESULTS (presented in millions, except per share data and percentages)
| Fourth Quarter | Full Year | |||||||||||||||||
| Q4 2018 | Q4 2017 | % Change | 2018 | 2017 | % Change | |||||||||||||
| Sales | $2,254 | $1,957 | 15 | % | $7,343 | $6,380 | 15 | % | ||||||||||
| GAAP | ||||||||||||||||||
| Operating Earnings | $516 | $503 | 3 | % | $1,255 | $1,284 |
(2) |
% |
||||||||||
| % of Sales | 22.9 | % | 25.7 | % | 17.1 | % | 20.1 | % | ||||||||||
| EPS | $2.44 | ($3.56) | N/M** | $5.62 | ($0.95) | N/M | ||||||||||||
| Non-GAAP | ||||||||||||||||||
| Operating Earnings | $650 | $566 | 15 | % | $1,740 | $1,506 | 16 | % | ||||||||||
| % of Sales | 28.8 | % | 28.9 | % | 23.7 | % | 23.6 | % | ||||||||||
| EPS | $2.63 | $2.10 | 25 | % | $7.15 | $5.46 | 31 | % | ||||||||||
| Products and Systems Integration Segment | ||||||||||||||||||
| Sales | $1,670 | $1,437 | 16 | % | $5,100 | $4,513 | 13 | % | ||||||||||
| GAAP Operating Earnings | $405 | $416 |
(3) |
% |
$854 | $969 |
(12) |
% |
||||||||||
| % of Sales | 24.3 | % | 28.9 | % | 16.7 | % | 21.5 | % | ||||||||||
| Non-GAAP Operating Earnings | $483 | $435 | 11 | % | $1,109 | $1,026 | 8 | % | ||||||||||
| % of Sales | 28.9 | % | 30.3 | % | 21.7 | % | 22.7 | % | ||||||||||
| Services and Software Segment | ||||||||||||||||||
| Sales | $584 | $520 | 12 | % | $2,243 | $1,867 | 20 | % | ||||||||||
| GAAP Operating Earnings | $111 | $87 | 28 | % | $401 | $315 | 27 | % | ||||||||||
| % of Sales | 19.0 | % | 16.7 | % | 17.9 | % | 16.9 | % | ||||||||||
| Non-GAAP Operating Earnings | $167 | $131 | 27 | % | $631 | $480 | 31 | % | ||||||||||
| % of Sales | 28.6 | % | 25.2 | % | 28.1 | % | 25.7 | % | ||||||||||
