UL Solutions Inc. Class A ( (ULS) ) has released its Q3 earnings. Here is a breakdown of the information UL Solutions Inc. Class A presented to its investors.
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UL Solutions Inc., a leader in safety science, offers independent testing, inspection, and certification services globally, alongside software and advisory solutions, serving customers in over 110 countries. In its third-quarter report for 2024, UL Solutions reported a robust performance with an 8.1% increase in revenue, amounting to $731 million, and a significant rise in net income to $94 million. The company also highlighted a 12.3% increase in Adjusted EBITDA, achieving a margin expansion to 25.0%. Key financial highlights include a notable 9.3% organic revenue growth, especially in the Industrial and Consumer segments, supported by strategic investments such as the new EV battery testing facility in Michigan. The company’s strong cash flow, with $394 million generated from operating activities in the first nine months, underscores its capacity to balance capital allocation while pursuing growth in high-demand sectors. Looking ahead, UL Solutions is poised to continue its growth trajectory with expectations of mid-to-high single-digit revenue growth for the year, underpinned by strategic investments and a resilient business model.
