UL Solutions reports Q2 EPS 44c, consensus 39c

Reports Q2 revenue $730M, consensus $718.73M…”This is our second quarterly earnings report as a public company and I’m pleased to once again report strong results as all of our segments, regions and service lines performed well,” said President and CEO Jennifer Scanlon. “Our revenue grew 8.4% on an organic basis and our business generated substantial cash flow. Combined with our robust balance sheet, this momentum enables ongoing investment and capital allocation aligned with megatrends impacting the world including global energy transition and sustainability.” Scanlon continued, “We are a global leader in the Testing, Inspection and Certification business, tracing our origins back 130 years around the advent of electricity. Today we operate in over 35 industries, we continue to expand our industry-leading capabilities both organically, thanks to outstanding execution from our dedicated safety science professionals, and through targeted acquisitions.” Chief Financial Officer Ryan Robinson added, “Tailwinds from a number of global trends are contributing to strong demand for our services and helped deliver another quarter of strong results that included organic revenue growth of 8.4%, Adjusted EBITDA of $173 million and Adjusted Diluted Earnings Per Share of $0.44. Our strong growth trajectory in the first half of 2024 puts us firmly on path to deliver on our reiterated full-year outlook. We will continue to consider prudent, accretive M&A while investing in organic growth as we look to build long-term value for all of our stakeholders.”