Q1 26 EPS
$3.37
BEAT +3.83%
Est. $3.25
Q1 26 Revenue
$2.71B
BEAT +0.52%
Est. $2.70B
vs S&P Since Q1 26
-9.8%
TRAILING MARKET
MSI -10.4% vs S&P -0.5%
Market Reaction
Did MSI Beat Earnings? Q1 2026 Results
Motorola Solutions kicked off fiscal 2026 on solid footing, posting first-quarter revenue of $2.71 billion, up 7.4% year-over-year, and non-GAAP EPS of $3.37, beating the $3.25 consensus estimate by 3.83%, as robust demand for public safety communica… Read more Motorola Solutions kicked off fiscal 2026 on solid footing, posting first-quarter revenue of $2.71 billion, up 7.4% year-over-year, and non-GAAP EPS of $3.37, beating the $3.25 consensus estimate by 3.83%, as robust demand for public safety communication equipment and video security systems drove results ahead of expectations. The standout driver was the Software and Services segment, which surged 18% to $1.16 billion with non-GAAP operating margin expanding sharply to 34.2% from 28.7% a year ago, more than offsetting modest 1% growth in Products and Systems Integration. The company also reported a record Q1 ending backlog of $15.70 billion, up 11% year-over-year, underpinning confidence in the raised full-year outlook; Motorola now expects 2026 revenue of approximately $12.80 billion and non-GAAP EPS of $16.87 to $16.99, both above prior guidance. For Q2, management guided to roughly 8.5% revenue growth and non-GAAP EPS of $3.82 to $3.88, signaling continued momentum heading into the second half of the year.
Key Takeaways
- • Software and Services segment grew 18% driven by growth in MCN, Command Center and Video
- • International growth was the primary driver of the 7% revenue increase
- • Revenue from acquisitions was $219 million in the quarter
- • Foreign currency tailwinds of $60 million in the quarter
- • Record Q1 ending backlog of $15.7 billion, up 11% year-over-year
- • Non-GAAP operating margin expanded 50 basis points to 28.8%
- • Lower non-GAAP effective tax rate of 19.1% vs. 21.1% driven by higher benefits from share-based compensation
MSI Forward Guidance & Outlook
For Q2 2026, the company expects revenue growth of approximately 8.5% versus Q2 2025 and non-GAAP EPS between $3.82 and $3.88 per share, assuming approximately 168 million fully diluted shares and a non-GAAP effective tax rate of approximately 23%. For full-year 2026, the company raised guidance to revenue of approximately $12.8 billion (up from prior $12.7 billion) and non-GAAP EPS of $16.87 to $16.99 (up from prior $16.70 to $16.85), assuming approximately 168 million fully diluted shares and a non-GAAP effective tax rate of approximately 22.5%.
MSI YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
MSI Revenue by Segment
With YoY comparisons, source: SEC Filings
“Q1 was an outstanding start to the year, with strong sales and earnings. Our record first-quarter backlog was driven by robust, broad-based demand. As a result, we're raising both our revenue and earnings guidance for the full year 2026.”
— Greg Brown, Q1 2026 Earnings Press Release
MSI Earnings Trends
MSI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MSI EPS Trend
Earnings per share: estimate vs actual
MSI Revenue Trend
Quarterly revenue: estimate vs actual
MSI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $3.25 | $3.37 | +3.83% | $2.71B | +0.52% |
| Q4 25 BEAT FY | $4.35 | $4.59 | +5.44% | $3.38B | +1.05% |
| FY Full Year | $15.16 | $15.38 | +1.48% | $11.68B | +0.32% |
| Q3 25 BEAT | $3.85 | $4.06 | +5.45% | $3.01B | +0.68% |
| Q2 25 BEAT | $3.36 | $3.57 | +6.21% | $2.77B | +1.18% |
| Q1 25 BEAT | $3.01 | $3.18 | +5.66% | $2.53B | +0.42% |