earnings
confidence high
sentiment positive
materiality 0.75
UL Solutions Q2 2024 revenue $730M (+6%), organic growth 8.4%; net income $106M
UL Solutions Inc.
2024-Q2 EPS reported
$0.78
revenue$1,400,000,000
- Revenue $730M, up 6.0% YoY; organic growth 8.4% led by Industrial segment.
- Net income $106M ($0.50 diluted EPS); Adjusted Net Income $94M (+5.6%).
- Adjusted EBITDA $173M, margin 23.7% (+120 bps); Free Cash Flow $131M in 1H 2024.
- Industrial segment revenue $314M (+7.5%), organic +11.6%; Adj EBITDA margin 30.9%.
- Completed upsized IPO at higher end of price range; listed on NYSE April 12, 2024; full-year outlook reiterated.