ULS Stock - UL Solutions Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $2.87B | $2.68B | $2.52B | $2.52B | $2.30B |
| Gross Profit | $1.38B | $1.26B | $1.21B | $1.18B | $1.03B |
| Gross Margin | 48.1% | 47.2% | 47.9% | 46.8% | 44.8% |
| Operating Income | $462.00M | $405.00M | $412.00M | $287.00M | $363.00M |
| Net Income | $326.00M | $260.00M | $293.00M | $224.00M | $231.00M |
| Net Margin | 11.4% | 9.7% | 11.6% | 8.9% | 10.0% |
| EPS | $1.63 | $1.30 | $1.47 | $1.12 | $1.16 |
UL Solutions Inc. provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators. The Consumer segment offers safety certification testing, ongoing certification, global market access, testing for connectivity, performance and quality, and critical systems advisory and training services, as well as product market acceptance and risk mitigation services for customers in the consumer products end markets comprising consumer electronics, medical devices, information technologies, appliances, HVAC, lighting, and retail, as well as consumer applications, such as new mobility, smart products, and 5G. The Software and Advisory segment provide software and technical advisory services that enable customers to manage regulatory requirements, deliver supply chain transparency, and operationalize sustainability for regulated industries, including life sciences, supply chain regulations, transparency needs, and new ESG and sustainability requirements. It offers ULTRUS software brand to help customers improve speed to market, sustainability and safety. UL Solutions Inc. was formerly known as UL Inc. and changed its name to UL Solutions Inc. in June 2022. The company was founded in 1894 and is headquartered in Northbrook, Illinois with additional offices in North America, Asia Pacific, Africa, Europe, Latin America, and Middle East. UL Solutions Inc. operates as a subsidiary of ULSE Inc.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 17th 2025 | Robert W. Baird | Upgrade | Outperform | $97 |
| November 5th 2025 | JP Morgan | Downgrade | Neutral | $84 |
| May 14th 2025 | Citigroup | Downgrade | Neutral | $71 |
| October 7th 2024 | Citigroup | Resumed | Buy | $60 |
| July 12th 2024 | Robert W. Baird | Downgrade | Neutral | $46← $41 |
| May 7th 2024 | William Blair | Initiation | Outperform | - |
| May 7th 2024 | Raymond James | Initiation | Outperform | $42 |
| May 7th 2024 | Goldman | Initiation | Neutral | $39 |
| May 7th 2024 | UBS | Initiation | Neutral | $38 |
| May 7th 2024 | Jefferies | Initiation | Buy | $42 |
| May 7th 2024 | Robert W. Baird | Initiation | Outperform | $40 |
| May 7th 2024 | JP Morgan | Initiation | Overweight | $39 |
| May 7th 2024 | Stifel | Initiation | Buy | $40 |
| May 7th 2024 | Citigroup | Initiation | Buy | $41 |
| May 7th 2024 | Wells Fargo | Initiation | Overweight | $40 |
Earnings History & Surprises
ULSEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q1 2026 | Feb 19, 2026 | $0.46 | — | — | — |
Q4 2025 | Nov 4, 2025 | $0.47 | $0.56 | +18.6% | ✓ BEAT |
Q3 2025 | Aug 5, 2025 | $0.47 | $0.52 | +10.6% | ✓ BEAT |
Q2 2025 | May 6, 2025 | $0.32 | $0.37 | +17.4% | ✓ BEAT |
Q1 2025 | Feb 20, 2025 | $0.38 | $0.49 | +28.9% | ✓ BEAT |
Q4 2024 | Nov 5, 2024 | $0.39 | $0.44 | +12.8% | ✓ BEAT |
Q3 2024 | Jul 31, 2024 | $0.39 | $0.50 | +28.2% | ✓ BEAT |
Q2 2024 | May 20, 2024 | $0.28 | $0.28 | -1.0% | ✗ MISS |
Q4 2023 | Dec 30, 2023 | — | $0.29 | — | — |
Q3 2023 | Sep 29, 2023 | — | $0.27 | — | — |
Q2 2023 | Jun 29, 2023 | — | $0.47 | — | — |
Q1 2023 | Mar 30, 2023 | — | $0.28 | — | — |
Q4 2022 | Dec 30, 2022 | — | $0.39 | — | — |
Q3 2022 | Sep 30, 2022 | — | $0.35 | — | — |
Q2 2022 | Jun 29, 2022 | — | $0.30 | — | — |
Q1 2022 | Mar 30, 2022 | — | $0.42 | — | — |
Latest News
Reported Earlier, UL Solutions And Saudi Electricity Company Sign MOU To Advance Fire Protection And Life Safety Standards Across Saudi Arabia
📈 PositiveBaird Upgrades UL Solutions to Outperform, Maintains Price Target to $97
📈 PositiveReported Earlier, UL Solutions Warns Kent Watersports CSF-2 Child Life Jackets Were Mislabeled, Risking Reduced Buoyancy, With 2,500 Units Sold In US
📉 NegativeUL Solutions, Pinterest, Booz Allen Hamilton, SPX Technologies, Dycom Industries, Borgwarner And Hecla Mining Co Set To S&P MidCap 400 December 22, 2025; Comfort Systems USA, Under Armour, Power Integrations, Perrigo, Iridium Communications, Marriott Vacations Worldwide And Insperity Exit S&P MidCap 400
📈 PositiveUL Solutions shares are trading lower after the company announced the pricing of its secondary public offering of 12.5 million Class A common shares at $78 per share.
📉 NegativeReported Earlier, UL Solutions Prices Secondary Public Offering Of 12.5M Class A Common Shares At $78.00 Per Share
➖ NeutralUL Solutions shares are trading lower after the company announced a 12.5M common stock offering.
📉 NegativeUL Solutions Launches 12.5M Common Stock Offering
➖ NeutralReported Earlier, UL Solutions Certifies Schneider Electric's PowerPacT Molded Case Circuit Breakers With First ECOLOGO Certification For Industrial Equipment
📈 PositiveUL Solutions Opens First Motor Efficiency Testing Lab In Japan To Support Local And International Standards
📈 PositiveUL Solutions Expands Battery-Powered Vehicle Certification To Electric Motorcycles, Scooters, Industrial Vehicles
📈 PositiveUBS Maintains Neutral on UL Solutions, Raises Price Target to $96
➖ NeutralGoldman Sachs Maintains Neutral on UL Solutions, Raises Price Target to $79
➖ NeutralWells Fargo Maintains Overweight on UL Solutions, Raises Price Target to $97
📈 PositiveJP Morgan Downgrades UL Solutions to Neutral, Raises Price Target to $84
➖ NeutralUL Solutions Raises 2025 Outlook, Targets 5.5–6% Organic Revenue Growth, 25% Adjusted EBITDA Margin, And Up To 7% Capex
📈 PositiveUL Solutions Q3 Adj. EPS $0.56 Beats $0.47 Estimate, Sales $783.000M Beat $770.916M Estimate
📈 PositiveReported Earlier, UL Solutions Expands Collaboration With GCC Technical Services To Advance Fire Safety In Saudi Arabia And Gulf Region
📈 PositiveUL Solutions shares are trading higher after UBS raised its price target on the stock from $70 to $75 while maintaining a Neutral rating.
📈 PositiveUBS Maintains Neutral on UL Solutions, Raises Price Target to $75
➖ NeutralFrequently Asked Questions about ULS
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