Motorola Solutions earnings: third quarter 2026

Motorola Solutions, which makes police and emergency radios, video security and the software behind them, grew sales 12% to $3.38 billion in the third quarter of 2026. About 5 points of that came from its existing businesses and the rest from companies it bought. Its own adjusted earnings per share rose 16% to $4.69, and it raised its sales forecast for the year again. The weaker side is cash. Free cash flow fell about a fifth, debt rose to pay for acquisitions, and a growing pile of stock is tying up money. ¹

Against what analysts expected

Adjusted earnings per share of $4.69 came in about 18% above the $3.99 analysts expected on average (Nasdaq's figures). On the reported measure, earnings per share fell 8% to $3.06, held back mainly by a higher charge tied to its Silvus acquisition and other deal costs. ¹²

The strong points

• Sales rose 12% from a year earlier to $3.38 billion, with the businesses it already owned growing 5% and recent acquisitions adding the rest. ¹
• Its adjusted profit from running the business rose 19% to about $1.1 billion, faster than sales. ¹
• Its gross margin, what is left of each dollar of sales after the direct cost of what it sold, edged up to 52.4%. ¹

The weak points

• Free cash flow, the cash left after running and investing in the business, fell about a fifth to $589 million. ¹
• Long-term debt climbed to about $9.4 billion as the company borrowed to buy businesses. ¹
• Stock waiting to be sold has grown to about $1.5 billion, up by half since the end of last year. ¹

What the company expects

• Motorola Solutions raised its sales forecast for the year to about $13.05 billion, from about $12.975 billion three months ago. ¹
• For the fourth quarter it expects sales to grow about 13% and adjusted earnings of $5.47 to $5.52 per share. ¹

Our verdict on the quarter

A very strong report. Motorola Solutions raised its sales forecast for the year and earned well above what analysts expected, on growing sales and profit, though weaker cash flow and rising debt are the price of its buying spree.

The results as published

• The results release itself
• The filing it came with (SEC)
• The previous results, for what it forecast then

Notes

1. Motorola Solutions's results release, 4 November 2026: sec.gov. ↩
2. Nasdaq's earnings calendar, 4 November 2026. ↩