Motorola Solutions, Inc.

Good afternoon and thank you for holding. Welcome to the Motorola Solutions third quarter 2023 earnings conference call. Today's call is being recorded. If you have any objections, please disconnect at this time. The presentation materials and additional financial tables are posted on the Motorola Solutions investor relations website. In addition, a webcast replay of the call will be available on our website within three hours after the conclusion of this call. The website address is www.motorolasolutions.com 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'd like to ask a question, please press star 5 on your telephone keypad to be placed in the queue. You may also press star 5 again to remove yourself from the queue. I would now like to introduce Mr. Tim Yocum, Vice President of Investor Relations. Mr. Yocum, you may begin your conference.

Good afternoon. Welcome to our 2023 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 COO, and Mahesh Saptarishi, Executive Vice President and CTO. Greg and Jason will review our results along with commentary, and Jack and Mahesh will join for a 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 reference non-GAAP financial results, including those in our outlook, as noted. A number of forward-looking statements will be made during this presentation and during the Q&A portion of the call. These 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 the 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 2022 annual report on Form 10-K, or any quarterly report on Form 10-Q, 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.

Thanks, Tim. Good afternoon and thanks, everybody, for joining us today. First, Q3 was another strong quarter. with revenue and earnings per share exceeding our guidance, driven by continued strong demand and an improving supply chain environment. Revenue was up 8% in the quarter, highlighted by 12% growth in software and services and 5% growth in products and systems integration. We also expanded operating margins for the fifth consecutive quarter, which resulted in record Q3 operating earnings in both segments and over $700 million of operating cash flow. Second, investments in safety and security continue to be a priority for our customers, and we had another record orders quarter in Q3. Year-to-date, orders are up 11%, driven by strong software and services, record U.S. federal demand, and continued adoption of our Apex Next device by U.S. state and local customers. Additionally, we ended Q3 with record backlog of $14.3 billion, up 6% versus the prior year. And finally, based on our Q3 results and continued momentum in the business, we We are again raising our full year guidance for both sales and EPS for the third time this year. I'll now turn the call over to Jason.