UL Solutions Q1 revenue $670M (+6.5% YoY); Adj. EBITDA margin 19.6% (+200 bps)

UL Solutions Inc.

2024-Q1 EPS reported $0.28 revenue$670,000,000

Organic revenue growth of 7.5% across all segments; Industrial led with 10.0% organic growth.
Adjusted EBITDA $131M (+18.0% YoY); adjusted net income $61M (+13.0% YoY); adjusted diluted EPS $0.28.
Net cash from operations $141M; free cash flow $84M in Q1.
Completed upsized IPO on April 12, 2024; listed on NYSE under ticker ULS.
Management cited energy transition and connected technologies as key market trends driving demand.

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