Motorola Solutions (MSI, Financial) was a significant contributor to performance in Wedgewood Partners' Q3 2024 letter. The company reported a 9% year-over-year sales growth and a 22% increase in adjusted earnings per share. Motorola's strong competitive positioning in the Land Mobile Radio (LMR) business, which provides critical communication solutions for emergency services, underpins its growth. The company continues to expand its value-added service offerings, driving long-term growth. Motorola's business model transformation has led to improving profitability trends, with operating margins and cash-flow-based returns on invested capital showing substantial improvement over the past decade.
"Motorola Solutions has executed well on the same straightforward strategy that we liked when we first bought our position: using the Company's dominant position in mission-critical communication networks and devices to layer in faster-growing and higher-margin services, software, and video." — Wedgewood Partners, Q3 2024 Fund Letter
Read full letter at gurufocus Wedgewood Partners 2024 Q3 page.
