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Motorola Solutions Inc. (MSI) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in net sales to $10.8 billion from $10.0 billion in the previous year. This growth was driven by increases in both the Products and Systems Integration and Software and Services segments.
Operating earnings for the year were $2.7 billion, compared to $2.3 billion in the previous year. The increase was attributed to higher sales and favorable product mix.
Net earnings attributable to Motorola Solutions were $1.6 billion, or $9.23 per diluted share, compared to $1.7 billion, or $9.93 per diluted share, in the previous year.
The company reported an operating cash flow of $2.4 billion, up from $2.0 billion in the previous year.
Motorola Solutions returned approximately $898 million to shareholders in 2024, including $654 million in dividends and $244 million in share repurchases.
The company increased its quarterly dividend by 11% to $1.09 per share in November 2024.
Motorola Solutions ended the year with a backlog of $14.7 billion, an increase of $438 million compared to the previous year.
The Products and Systems Integration segment's net sales were $6.9 billion, representing 64% of consolidated net sales. The Software and Services segment's net sales were $3.9 billion, representing 36% of consolidated net sales.
The company completed several acquisitions in 2024, including 3tc Software and Noggin, to enhance its command center and video security offerings.
Motorola Solutions continues to focus on integrating its LMR, Video, and Command Center technologies to provide a unified safety and security ecosystem for its customers.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Motorola Solutions Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.