EarningsQ2 2026 Earnings Report
MX:MSI Q2 2026 EPS Results
Actual EPS$79.80
Consensus EPS$69.68
Beat/MissBeat by +$10.12
One Year Ago EPS$64.60
MX:MSI Q2 2026 Revenue Results
Actual Revenue$56.69B
Expected Revenue$54.32B
Beat/MissBeat by +$2.37B
YoY Revenue Growth+13.31%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
MX:MSI Upcoming Earnings
Motorola Solutions's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MSI Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational performance: record revenue, double-digit growth across segments and technologies, significant margin expansion, robust cash flow, record backlog, and an upward revision to full-year guidance. Key growth engines (Silvus, MCN, APX NEXT, D‑Series infrastructure and software subscriptions) are showing clear traction. Headwinds include materially higher memory costs, a one-time tariff refund that boosted Q2 results, elevated inventory and integration/financing activity for acquisitions (D-Fend), and small sequential backlog dips in product. On balance, the positive operational momentum and guidance raise materially outweigh the noted challenges.Company Guidance
Record Revenue and Double-Digit Growth
Q2 revenue grew 13% year-over-year, driven by double-digit growth in both segments and across all three technologies; Products & Systems Integration grew 15% and Software & Services grew 10%.
Strong Earnings and Margin Expansion
Non-GAAP operating earnings rose 26% year-over-year, non-GAAP operating margin expanded to 32.9% (up 330 basis points YoY) and, excluding a $60M IEEPA refund benefit, margins still expanded 140 basis points.
Earnings Per Share Growth
GAAP EPS was $3.33 (up from $3.04 prior-year) and non-GAAP EPS was $4.41 (up $0.84, or 24% YoY).
Robust Cash Generation and Capital Allocation
Q2 operating cash flow was $469M (up $197M YoY) and free cash flow was $414M (up $190M YoY). Capital actions included $326M of share repurchases, $201M in dividends and $55M in CapEx.
Record Backlog and Orders Momentum
Ending Q2 backlog reached a record $15.6B, up $1.5B or 11% year-over-year, driven by record Q2 orders across all three technologies and strong multiyear contract demand.
Raised Full-Year Guidance
Full-year revenue guidance raised by $175M to approximately $12.975B and non-GAAP EPS guidance raised to $17.62–$17.72 (from $16.87–$16.99), with both segments now expected to deliver double-digit growth (Products & SI ~11%, Software & Services ~11%).
Silvus and MCN Outperformance
Silvus outperformed expectations (Q1 ~$210M, Q2 ~$230M) and full-year Silvus revenue guidance increased to ~ $850M; MCN (excluding Silvus) also contributed meaningfully to the $175M guide raise.
Notable Large Wins and Product Momentum
Multiple significant orders in P25 devices and D-Series infrastructure (e.g., $52M, $34M, $22M infrastructure wins), large mobile video orders ($25M Florida Highway Patrol, $24M Kansas City PD), APX NEXT adoption and SPX traction (150 customers operational), and expected 300,000 APX NEXT subscribers by year-end 2026.
MX:MSI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed