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Motorola Solutions

Motorola Solutions (MSI) Q2 2026 Earnings

Reported Aug 5, 2026 at 4:12 PM ET · SEC Source

Q2 26 EPS Adjusted

$4.41

BEAT +14.45%

Est. $3.85

Includes a $60M (pre-tax) benefit, or $0.25 per share, related to IEEPA tariff refunds recorded during the quarter.

Q2 26 Revenue

$3.13B

BEAT +4.37%

Est. $3.00B

vs S&P Since Q2 26

+4.6%

BEATING MARKET

MSI +5.0% vs S&P +0.4%

Market Reaction

Did MSI Beat Earnings? Q2 2026 Results

Motorola Solutions delivered a standout second quarter for fiscal 2026, beating Wall Street on both top and bottom lines as demand for its public safety technology continued to accelerate. The company posted adjusted non-GAAP EPS of $4.41, ahead of t… Read more Motorola Solutions delivered a standout second quarter for fiscal 2026, beating Wall Street on both top and bottom lines as demand for its public safety technology continued to accelerate. The company posted adjusted non-GAAP EPS of $4.41, ahead of the $3.85 consensus estimate by 14.45%, extending its streak of beating EPS expectations to five consecutive quarters, while revenue of $3.13 billion cleared estimates by 4.37% and grew 13.3% year-over-year. The headline results were bolstered by a $60 million pre-tax benefit, or approximately $0.25 per share, from IEEPA tariff refunds following a U.S. Supreme Court ruling that invalidated tariffs imposed under the International Emergency Economic Powers Act. Segment momentum was broad-based, with Products and Systems Integration climbing 15% to $1.91 billion and Software and Services rising 10% to $1.23 billion. Record backlog of $15.60 billion, up 11% year-over-year, reinforced management's confidence in raising its full-year 2026 revenue outlook to approximately $12.98 billion and non-GAAP EPS guidance to a range of $17.62 to $17.72, well above prior targets.

Key Takeaways

  • • Products and Systems Integration segment grew 15% driven by Mission Critical Networks and Video Security and Access Control
  • • Software and Services segment grew 10% driven by MCN, Command Center and Video
  • • Growth in both North America and International markets
  • • Revenue from acquisitions contributed $243 million in the quarter
  • • Foreign currency tailwinds of $35 million in the quarter
  • • Non-GAAP operating margin expanded 330 bps to 32.9% driven by higher sales and improved operating leverage
  • • $60 million IEEPA refund benefit contributed approximately 190 bps to operating margin
  • • Record Q2 ending backlog of $15.6 billion, up 11% year-over-year

MSI Forward Guidance & Outlook

For Q3 2026, the company expects revenue growth of approximately 8% versus Q3 2025 and non-GAAP EPS between $4.39 and $4.44, assuming approximately 168 million fully diluted shares and a non-GAAP effective tax rate of approximately 23%. For full-year 2026, the company raised its outlook to revenue of approximately $12.975 billion (up from prior guidance of $12.8 billion) and non-GAAP EPS between $17.62 and $17.72 (up from prior guidance of $16.87 to $16.99), assuming approximately 168 million fully diluted shares and a non-GAAP effective tax rate between 22% and 22.5%.

24/7 Wall St

MSI YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

MSI Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“Q2 was exceptional across the board. This performance, along with record Q2 orders, is driving very strong momentum into the second half of this year.”

— Greg Brown, Q2 2026 Earnings Press Release

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