Motorola Solutions, Inc.

Good afternoon and thank you for holding. Welcome to the Motorola Solutions second 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 will be available on our website within three hours after the conclusion 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, you may press star five on your telephone keypad to be placed in 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 now begin your conference.

Good afternoon. Welcome to our 2024 second 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 Sattarishi, 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 have 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, 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 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. And with that, I'll turn it over to Greg.

Thanks, Tim, and good afternoon, and thanks for joining us today. I'll start off by sharing a few thoughts about the overall business before Jason through our results and outlook. First, Q2 was another outstanding quarter with record Q2 revenue and operating earnings. Products and SI revenue was up 15%, and operating earnings were up 56%, driven by continued strong demand and favorable mix within LMR products. In software and services, revenue was flat, excluding the home office. From the UK, revenue was up 11%, driven by strength in all three technologies. And we also increased earnings per share by 22%, generated $180 million of operating cash flow, and ended the quarter with $14 billion of backlog, positioning us well for continued growth. Second, I'm encouraged by the continued momentum we're seeing across the business. In video security, revenue was up 10%, driven by growth in both our fixed and mobile video solutions and increasing in software and services. In command center, revenue increased 9% as customers continue to adopt our solutions that help them effectively accelerate response and resolution of incidents. And in LMR, revenue increased 9% inclusive of the UK home office headwinds, driven by LMR products as well as managed and support services. And finally, based on our Q2 results, robust demand and continued prioritization for safety and security by our customers, we're again raising both our revenue and earnings guidance for the full year. I'll now turn the call over to Jason.