Motorola Solutions, Inc.

Good afternoon and thank you for holding welcome to the motorola solutions 3rd quarter 2024 earnings conference call today 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 3 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 would 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 Yochum, Vice President of Investor Relations. Mr. Yochum, you may begin your conference.

Good afternoon. Welcome to our 2024 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 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. And during the call, we reference non-gap financial results, including those from Outlook and 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. 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'm going to share a few thoughts before Jason takes you through our results and outlook. First, Q3 was another outstanding quarter with record Q3 revenue and earnings per share that exceeded our guidance. Revenue was up 9% in the quarter, highlighted by 11% growth in products and SI and 7% growth in software and services inclusive of the UK Home Office revenue reduction. We also expanded operating margins year over year for the ninth consecutive quarter, increased earnings per share by 17%, and generated record Q3 operating cash flow of over $750 million. Second, demand for our solutions remains robust as we achieved record Q3 orders in all three of our technologies. In LMR, we continue to see customers investing for the long term, with many choosing us to provide software upgrades and value-added services on their networks via multi-year agreements, as well as upgrading their devices to our latest APEX Next family of radios. And in our video and command center technologies, the powerful integration of our software applications across our ecosystem is driving strong demand and contributing to record-ending backlog in software and services, and finally, based on our Q3 results and the strong momentum we see across the business. We're again raising our estimates for revenue, earnings per share and cash flow for the full year. And with that, I'll turn the call over to Jason.