Motorola solutions CEO Greg Brown informed CNBC on Thursday that demand for the corporate’s public security and enterprise safety merchandise has by no means been stronger.
In an interview on “Mad Cash,” Brown indicated that Motorola’s enterprise stays resilient regardless of considerations a couple of slowing international economic system as a serious improve cycle is underway.
“What we do is a necessity, not a nice-to-have. That is the strongest demand atmosphere I’ve ever seen,” stated Brown, who has led Motorola Options for greater than a decade. ” Motorola makes two-way radios utilized by police and fireplace departments; safety video methods; and command middle software program, amongst different issues.
Brown stated that Motorola Options will profit The Biden administration’s $1.9 trillion Covid relief billWhich handed in 2021 and included Dedicated funds For public security investments. Normally, Brown informed Jim Cramer that there’s a private-network radio improve cycle underway that can increase the corporate’s enterprise within the coming years.
“These radios are refreshed each seven years. And we’re within the first or second innings radio refresh right here in North America — so New York, Chicago, Las Vegas, LA, they’re Motorola,” Brown stated. “Demand is at its finest, report backlog. Funding is at its finest, and the innovation coming from this firm and the acquisitions we’re making, there’s quite a lot of room to run,” Brown added.
Shares of Motorola Options closed up 0.3% at $244.17 on Thursday. The inventory has gained greater than 180% over the previous 5 years, considerably outperforming the S&P 500 in that vary.