Motorola Solutions, Inc.

Good afternoon and thank you for holding. Welcome to the Motorola Solutions first quarter 2024 earnings conference call. Today's call is being recorded. If you have any objections, please disconnect at this time. The 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 three hours of this call. The website address is www.motorolasolutions.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 five on your telephone keypad to be placed into the queue. You may also press star five again to remove yourself from the queue. I would now like to introduce Mr. Tim Yochum, Vice President of Investor Relations. Mr. Yochum, you may begin your conference.

Good afternoon. Welcome to our 2024 First Quarter Earnings Call. With me today are Greg Brown, Chairman and CEO, Jason Winkler, Executive Vice President and CFO, Zach 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 Q&A. We've posted an earnings presentation and news release at MotorolaSolutions.com slash investor. These materials include gap to non-gap reconciliations for your reference. During the call, we referenced non-gap 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. 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 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 2023 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. With that, I'll turn it over to Greg.

Thanks, Tim. Good afternoon, and thanks for joining us today. I'm going to share a few thoughts about the overall business before Jason takes us through our results and outlook. First, Q1 was an outstanding start to the year. We achieved revenue growth of 10%, earnings per share growth of 27%, expanded operating margins by 220 basis points, and generated record Q1 operating cash flow of $382 million. We also finished the quarter with $14.4 billion of backlog, up $300 million versus last year. Second, our outstanding Q1 performance was broad-based. In our products and SI segment, revenue was up 14%, and operating margins increased 590 basis points as we continue to see strong demand for our feature-rich LMR products, including Apex Next, and our refreshed PCR portfolio. In software and services, revenue was up 4% inclusive of the airwave charge control and our exit from the ESN contract. Excluding UK home office revenues, software and services revenues increased double digits, driven by continued strong demand for our LMR service offerings and our software applications in video security and command center. And finally, based on our strong start to the year and continued robust demand, we're raising both our revenue and earnings guidance for the full year. I'll now turn the call over to Jason.