Motorola Solutions, Inc. (MSI) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 4, 2022 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 Second Quarter 2022 Earnings Conference Call. Today's call is being recorded. . 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 2 hours after the conclusion of this call. The website address is www.motorolasolutions.com/investor. .

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 second 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 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 and 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 turn the call over to Greg.

Gregory Brown - Chairman & CEO

Thank you, Tim. 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 the results and our outlook.

First, Q2 was exceptional across the board with revenue and earnings per share both coming in above our expectations. In Software and Services, revenue was up 11%, highlighted by strong software growth. And in Products and SI, continued record demand across both land mobile radio and video, led to 7% revenue growth and 17% orders growth, driving increased backlog.