Motorola Solutions, Inc. (MSI) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 9, 2023 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon, and thank you for holding. Welcome to the Motorola Solutions Fourth Quarter 2022 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 two hours after the conclusion of this call. The website address is www.motorolasolutions.com/investor. All participants have been placed in a listen-only mode. You will have an opportunity to ask questions after today's presentation.

I would now like to introduce Mr. Tim Yocum, Vice-President of Investor Relations. Mr. Yocum, you may begin your conference.

Tim Yocum - VP, IR

Good afternoon. Welcome to our 2022 fourth quarter earnings call. With me today are Greg Brown, Chairman, and CEO; Jason Winkler, Executive Vice President, and CFO; Jack Molloy, Executive Vice President, and COO; and Mahesh Saptharishi, Executive Vice President and CTO. Greg and Jason will review our results, along with commentary and Jack and Mahesh will join for Q&A.

We've posted an earnings presentation and news release at motorolasolutions.com/investor. These materials include GAAP to non-GAAP reconciliations for your reference. And during the call, we reference non-GAAP financial results including those in our outlook unless otherwise noted. A number of forward-looking statements will be made during this presentation and during the Q&A portion of the call. These statements are based on current expectations and assumptions that are subject to a variety of risks and uncertainties. Actual results could differ materially from these forward-looking statements.

Information about factors that could cause such differences can be found in today's earnings news release, in the comments made during this conference call, in the Risk Factors section of our 2021 Annual Report on Form 10-K, or any quarterly report on Form 10-Q, and in our other reports and filings with the SEC. We do not undertake any duty to update any forward-looking statements.

I'll now turn it over to Greg.

Greg Brown - Chairman and CEO

Thanks, and good afternoon, and thanks for joining us today. I'm going to start off by sharing a few thoughts about the overall business before Jason takes us through our results and the outlook. First, our record Q4 results highlight the continued robust demand we're seeing for our public safety and enterprise security solutions. During the quarter we grew revenue 17%, earnings per share of 26%, expanded operating margins by 150 basis points, and generated a record $1.3 billion of operating cash flow.