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Motorola Solutions, Inc. 8-K Report, Financial Results (May 7, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 7, 2026
Period End
May 7, 2026
Security
MSI
In the record · 2016–202610-K1110-Q328-K124

MSI filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 124 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Feb ’16Feb ’16
  2. Leadership change8-K · Sep ’18Sep ’18
  3. Leadership change8-K · Jun ’21Jun ’21
  4. Material agreement8-K · Jul ’25Jul ’25

01—Abstract

Summary

Summary of the 8-K filed May 7, 2026. Cited figures are marked; the original filing is the authoritative source.

Motorola Solutions reported first-quarter 2026 sales of $2.714 billiona, up 7% year over year, with record Q1 ending backlog of $15.7 billion (up 11%).

Growth was driven mostly by acquisitions ($222 millionb of sales from businesses owned less than four quarters) and a $60 million foreign currency tailwind. Organic revenue fell 1%. Software and Services sales rose 18% to $1.155 billion, while Products and Systems Integration sales rose only 1% to $1.559 billion.

GAAP diluted EPS fell 14% to $2.18c, mainly due to a $75 million non-cash increase in the contingent Silvus earnout and higher intangibles amortization. Non-GAAP EPS rose 6% to $3.37. Non-GAAP operating margin improved 50 basis points to 28.8%, though Products and Systems Integration non-GAAP margin fell to 24.8% from 28.1%, reflecting higher supply chain and memory costs.

Management raised full-year 2026 guidance to approximately $12.8 billiond in revenue (from $12.7 billion) and non-GAAP EPS of $16.87 to $16.99 (from $16.70 to $16.85). Q2 guidance calls for about 8.5% revenue growth and non-GAAP EPS of $3.82 to $3.88. Cash generation weakened: operating cash flow was $451 million (vs. $510 million) and free cash flow was $389 million (vs. $473 million), due to inventory build and higher interest and tax payments.

Net interest expense more than doubled to $104 million from $51 million. The company paid $201 million in dividends and repurchased $118 million of stock, repaid $200 million of Silvus term loans (leaving $1.3 billion), and agreed to buy Bell Canada's LMR networks services business for about $500 million, expected to close in Q4 2026. Investors should weigh the gap between GAAP and non-GAAP results.

Non-GAAP figures exclude roughly $1.19 per share of after-tax items, including recurring share-based compensation and amortization, as well as Hytera litigation gains ($40 million in Q1). The company has not recognized any potential IEEPA tariff refund, and it flagged rising memory costs and supply chain volatility as ongoing risks.

02—Key points

Key Highlights

  1. Sales rose 7% to $2.714 billion, but organic revenue declined 1% to $2.492 billion once $222 million of acquired sales are excluded.
  2. GAAP EPS fell 14% to $2.18 mainly due to a $75 million contingent Silvus earnout adjustment; non-GAAP EPS rose 6% to $3.37.
  3. Software and Services sales grew 18% to $1.155 billion with non-GAAP operating margin of 34.2%, while Products and Systems Integration sales grew only 1% and its non-GAAP margin fell to 24.8% from 28.1%.
  4. Record Q1 backlog of $15.7 billion, up 11%, with Software and Services backlog up 13% and Products and Systems Integration backlog up 7%.
  5. Full-year 2026 guidance raised: revenue of about $12.8 billion (from $12.7 billion) and non-GAAP EPS of $16.87 to $16.99 (from $16.70 to $16.85).
  6. Free cash flow fell to $389 million from $473 million, and net interest expense more than doubled to $104 million from $51 million.
  7. Agreed to acquire Bell Canada's LMR networks services business for about $500 million, expected to close in Q4 2026; no IEEPA tariff refund asset recognized yet.

03—Questions

Frequently Asked Questions

  1. Is Motorola Solutions' growth coming from the core business or from acquisitions?

    Mostly from acquisitions and currency. Reported sales rose 7%, but acquisitions contributed $222 million and foreign exchange added about $60 million. Organic revenue (excluding businesses owned less than four quarters) declined 1%, which is a key point for investors evaluating underlying demand.

  2. Why did GAAP EPS decline while non-GAAP EPS increased?

    GAAP EPS fell 14% to $2.18, largely because of a $75 million non-cash increase in the contingent Silvus earnout and higher intangibles amortization ($90 million vs. $37 million). Non-GAAP EPS, which excludes these items, share-based compensation, and Hytera litigation gains, rose 6% to $3.37. Investors should consider both measures, since the excluded items recur in some form.

  3. Did the company's full-year outlook change?

    Yes, modestly upward. Revenue guidance rose to about $12.8 billion from $12.7 billion, and non-GAAP EPS guidance rose to $16.87 to $16.99 from $16.70 to $16.85. Q2 guidance calls for about 8.5% revenue growth and non-GAAP EPS of $3.82 to $3.88. The company did not provide a GAAP reconciliation for guidance.

  4. What are the main risks flagged in the filing?

    The company cited rising memory costs driven by AI-related demand, elevated global supply chain volatility, and tariff and import/export regulation uncertainty. Products and Systems Integration margins are already under pressure. The company has not recognized any potential refund of IEEPA tariffs, since collection is uncertain.

  5. How is the company deploying capital and managing its balance sheet?

    In Q1 it paid $201 million in dividends, repurchased $118 million of stock, invested $62 million in capex, and spent $124 million on acquisitions and investments. It repaid $200 million of the Silvus term loans, leaving $1.3 billion outstanding. Cash fell to $886 million, and inventory rose to $1.18 billion. The pending $500 million Bell Canada LMR acquisition is expected to close in Q4 2026.

04—Continue

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