Motorola Solutions, Inc.

Good afternoon and thank you for holding. Welcome to the Motorola Solutions third quarter 2022 earnings conference call. Today's call is being recorded. If you have any objections, please disconnect at this time. Presentation material and additional financial tables are posted on the Motorola Solutions Investor Relations website. In addition, a webcast replay of this call will be available on our website within two hours after the conclusion of this call. The website address is www.motorolarsolutions.com forward slash investor. All participants have been placed in a listen-only mode. You will have an opportunity to ask questions after today's presentation. If you would like to ask a question, please press star one on your telephone keypad. I'll now like to introduce Mr. Tim Yocum, Vice President of Investor Relations. Mr. Yocum, you may begin your conference.

Good afternoon. Welcome to our 2022 Third Quarter Earnings Call. With me today are Greg Brown, Chairman and CEO, Jason Winkler, Executive Vice President and CFO, Jack Malloy, Executive Vice President and CFO, and Mahesh Saptarishi, Executive Vice President and CTO. Greg and Jason will review our results along with commentary and Jack and Mahesh will join us for Q&A. We posted an earnings presentation and news release at MotorolaSolutions.com slash investor. These materials include GAAP to non-GAAP reconciliations for your reference. And during the call, we referenced non-GAAP financial results including those in our outlook unless otherwise noted. A number of forward-looking statements will be made during this presentation and during the Q&A portion of the call. Statements are based on current expectations and assumptions that are subject to a variety of risks and uncertainties. Actual results could differ materially from these forward-looking statements. Information about factors that could cause such differences can be found in today's earnings news release, in the comments made during this conference call, in the risk factor section of our 2021 Annual Report on Form A, or any other quarterly report on Form 10, and in our other reports and filings with the SEC. We do not undertake any duty to update any forward-looking statements. And with that, I'll turn it over to Greg.

Thank you, Tim, and good afternoon, and thanks for joining us today. First, our Q3 results highlight the continued strong demand and robust funding environment that we're seeing across the business. We grew revenue 13%, EPS 28% and expanded operating margins by 220 basis points. Additionally, we ended the quarter with record Q3 ending backlog of $13.5 billion, up 19% from last year, inclusive of over $800 million of unfavorable currency impact. Second, we achieved record Q3 revenue in both segments, in products and systems integration, Increased demand for video security and land mobile radio technologies and continued solid execution in our supply chain led to revenue growth of 15% during the quarter. And in software and services, revenue was up 8% and 13% when normalized for FX. And finally, based on our exceptionally strong Q3 results and our expectations for the remainder of the year, we're raising our full-year guidance for both sales and EPS, for the second consecutive time despite full-year FX headwinds that now total about $220 million, up $50 million from our expectations last quarter. So at this point, I'll now turn the call over to Jason to take you through our results and outlook before returning for some final thoughts.