Raised guidance on robust demand signals continued momentum; watch Q2 results for margin progression and supply chain cost absorption. The record backlog provides visibility into multi-quarter revenue conversion, supporting the raised outlook.
Price Chart
Executive Summary
Motorola Solutions reported Q1 2026 results with Non-GAAP EPS of $3.37 beating consensus of $3.25 and revenue of $2.714B slightly above $2.70B. The company raised full-year 2026 guidance to revenue ~$12.8B and Non-GAAP EPS $16.87-$16.99, driven by record Q1 orders and backlog of $15.7B. Software & Services sales grew 18% YoY, underscoring momentum in higher-margin recurring revenue.
Key Financial Metrics
Key Facts
- Non-GAAP EPS $3.37 vs consensus $3.25, beat by 3.7%
- Revenue $2.714B vs consensus $2.70B, in line
- Full-year 2026 guidance raised: revenue ~$12.8B (from $12.7B), Non-GAAP EPS $16.87-$16.99 (from $16.70-$16.85)
- Record Q1 backlog $15.7B, up 11% YoY
- Software & Services segment sales up 18% YoY; Products & Systems Integration up only 1%
- GAAP EPS $2.18 down 14% due to contingent earnout and amortization; Non-GAAP operating margin improved 50bps to 28.8%
- Free cash flow $389M down from $473M due to inventory investment and higher interest/tax payments
Financial Impact
Non-GAAP EPS beat of $0.12 (3.7%) and full-year guidance raise of ~$0.15 at midpoint on record backlog
Risk Factors
- Supply chain cost inflation (memory, tariffs) may pressure margins
- Contingent Silvus earnout of $75M adds GAAP volatility
- Organic revenue declined 1% in Q1 after adjusting for acquisitions
- Integration of Bell Canada LMR acquisition (expected Q4 2026) adds execution risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000068505-26-000018 |
| Document: msi-20260507.htm | 0000068505-26-000018 |
| Document: 0000068505-26-000018-index-headers.html | 0000068505-26-000018 |
| Document: 0000068505-26-000018-index.html | 0000068505-26-000018 |
| Document: 0000068505-26-000018.txt | 0000068505-26-000018 |
| 8-K Data (Synthetic) | 0000068505-26-000018 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 17, 2026 6w ago | 8-K | $469.50 $464.94 | ▼ −0.97% | ▲ +0.02% | $447.73 (−4.64%) |
Aug 14, 2026 6w ago | Insider Cluster | $457.08 $469.14 | ▲ +2.64% | ▲ +4.62% | $447.73 (−2.05%) |
May 14, 2026 20w ago | Court Ruling | $399.33 $412.25 | ▲ +3.24% | ▲ +4.09% | $447.73 (+12.12%) |
May 7, 2026 21w ago | 8-K | $383.99 $410.34 | ▲ +6.86% | ▲ +6.84% | $447.73 (+16.60%) |
Mar 30, 2026 26w ago | Court Ruling | $426.78 $434.74 | ▲ +1.87% | ▼ −10.73% | $447.73 (+4.91%) |
Feb 28, 2026 30w ago | Institutional Cluster | $484.83 $426.78 | ▼ −11.97% | ▼ −4.03% | $447.73 (−7.65%) |
Feb 26, 2026 31w ago | Insider Cluster | $470.71 $450.01 | ▼ −4.40% | ▲ +2.01% | $447.73 (−4.88%) |
Feb 26, 2026 31w ago | Insider Cluster | $470.71 $450.01 | ▼ −4.40% | ▲ +2.01% | $447.73 (−4.88%) |
Feb 26, 2026 31w ago | Insider Cluster | $470.71 $450.01 | ▼ −4.40% | ▲ +2.01% | $447.73 (−4.88%) |
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