10-Q · May 7, 2026
Motorola Solutions reported strong first-quarter results for 2026, with revenues of $2.71 billion and EPS of $3.37, both exceeding consensus estimates. The company saw segment growth driven by Software and Services but…
Earnings analysis · 10-Q
MSI earnings analysis
Filed November 4, 2026 · Our reading of the company's report
The latest report
Motorola Solutions delivered $3.376 billion of revenue and $4.69 of EPS, representing approximately 12.2% and 40.8% year-over-year growth, respectively, while exceeding consensus estimates. The company continued…
Read full summary
Motorola Solutions delivered $3.376 billion of revenue and $4.69 of EPS, representing approximately 12.2% and 40.8% year-over-year growth, respectively, while exceeding consensus estimates. The company continued aggressive capital returns, repurchasing 206,640 shares at an average price of $457.07 and retaining $2.5 billion of buyback authorization. The provided 10-Q reports no material changes to risk factors or market-risk exposures and does not provide new quantitative guidance; the separate earnings disclosure raised full-year 2026 outlook.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $4.69
What stood out
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Revenue grew double digits and beat estimates
Revenue was $3.376 billion, up from $3.01 billion in the year-ago quarter, an increase of approximately 12.2%, and above the $3.27752 billion consensus estimate by approximately 3.0%.
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EPS growth and consensus beat
Diluted EPS was $4.69 versus $3.33 in 2025Q3, an increase of approximately 40.8%, and exceeded the $4.34 consensus estimate by 8.1%.
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Share repurchases continued
The company repurchased 206,640 shares during the quarter at an average price of $457.07 per share, supporting per-share returns.
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Substantial remaining buyback authorization
As of October 3, 2026, Motorola Solutions had used approximately $17.5 billion of its repurchase authorization and retained $2.5 billion of available authority after the Board approved a $2.0 billion increase during the third quarter.
What to watch
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Acquisition-related dilution and expense
Motorola Solutions issued 168,674 shares to former D-Fend shareholders with an aggregate grant-date fair value of $76 million and 18,872 shares to former DeepNeuronic shareholders with a fair value of $9 million. The awards will be expensed over an average service period of three years, creating dilution and acquisition-related compensation expense.
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Large ongoing capital commitment
The company had used approximately $17.5 billion of its repurchase authorization and retained $2.5 billion available for future repurchases as of October 3, 2026. Continued buybacks represent a significant potential use of liquidity, particularly if operating cash generation weakens.
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Litigation and market-risk exposure unchanged
Management reported no material changes to interest-rate or foreign-currency risk during the nine months ended October 3, 2026, and Item 1A reported no material changes to previously disclosed risk factors. The company nevertheless remains exposed to the Hytera civil litigation described in Note 12, which management states could materially affect financial position, liquidity, or results if resolved unfavorably.
Management's outlook
The provided 10-Q text does not include quantitative revenue or EPS guidance. The separate November 4, 2026 earnings disclosure cited full-year 2026 revenue guidance of approximately $13.050 billion, non-GAAP EPS guidance of $17.94-$17.99, and operating cash flow expectations of $3.050 billion.
Earlier filings 4
10-K · February 12, 2026
Motorola Solutions reports consolidated net sales of $11.7 billion in 2025, driven by Products & Systems Integration net sales of $7.3 billion (62%) and Software & Services net sales of $4.4 billion (38%). Backlog…
10-Q · August 7, 2025
Motorola Solutions reported quarterly revenue of $2,765 million (up $137 million vs. prior year and $237 million vs. prior quarter) and diluted EPS of $3.04. Gross margin was 51.1% and operating margin was 25.0%, both…
10-K · February 14, 2025
Motorola Solutions positions itself as a converged safety-and-security platform centered on LMR, Video and Command Center technologies, with 2024 net sales of $6.9 billion (Products & Systems Integration) and $3.9…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.