STOCK TITAN

UL Solutions Inc. - $ULS STOCK NEWS

Welcome to our dedicated page for UL Solutions news (Ticker: $ULS), a resource for investors and traders seeking the latest updates and insights on UL Solutions stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect UL Solutions's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of UL Solutions's position in the market.

Rhea-AI Summary

UL Solutions, listed on the NYSE under the ticker symbol ULS, has declared a quarterly dividend of $0.125 per share. This dividend will be distributed on June 18, 2024, to shareholders who are recorded in the company's books as of June 3, 2024. The announcement underscores UL Solutions' commitment to delivering shareholder value, highlighting its ongoing efforts in applied safety science.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.55%
Tags
dividends
-
Rhea-AI Summary

UL Solutions, a global leader in applied safety science (NYSE:ULS), has acquired BatterieIngenieure, a German company specializing in battery performance testing. This acquisition enhances UL Solutions' battery testing capabilities, adding a lab in Europe and expanding their global EV battery testing footprint.

BatterieIngenieure provides comprehensive testing, simulation, and failure analysis, employing over 50 battery researchers. The acquisition supports UL Solutions' mission of advancing battery innovation and safety, leveraging BatterieIngenieure's strong relationships with European automotive manufacturers and their ongoing expansion of testing facilities.

The transaction was finalized on May 22, 2024, though financial terms were undisclosed.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.42%
Tags
-
Rhea-AI Summary

UL Solutions has announced a collaboration with Efectis Era Avrasya to enhance fire door testing in Southeast Europe and the Middle East. The initiative aims to support regional fire door manufacturers by providing a local testing lab in Dilovasi, Turkey, through the UL Solutions Witnessed Test Data Program (WTDP). This partnership will help manufacturers meet increasing demand and comply with stricter building codes, facilitating quicker and cost-effective product certification. The Middle East construction materials market is expected to grow at an 8% CAGR between 2024-2030, and the Turkish construction sector grew by 5.1% in 2023 due to post-earthquake reconstruction efforts.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.39%
Tags
none
Rhea-AI Summary

UL Solutions Inc. (NYSE: ULS) reported strong results for Q1 2024 ending March 31st. Revenue grew by 6.5% to $670 million, with 7.5% organic growth. Net income rose to $60 million, translating to $0.28 per diluted share. Adjusted net income increased by 13% to $61 million, and adjusted EBITDA grew by 18% to $131 million, expanding the margin to 19.6%. The company completed an upsized IPO on April 12th, 2024. Despite a decrease in operating cash flow to $141 million and free cash flow to $84 million, UL Solutions maintained strong cash generation and ended the quarter with $344 million in cash and equivalents. Each business segment, especially Industrial and Consumer, showed robust growth, with significant gains in revenue and EBITDA. However, the Software and Advisory segment reported a small operating loss. The company forecasts mid-single-digit organic revenue growth for 2024, driven by trends like electrification and digitalization.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.15%
Tags
-
Rhea-AI Summary

UL Solutions (NYSE: ULS) awarded Nan Shan Life Insurance Co. the first UL Verified Healthy Building Mark in Taiwan for its headquarters in Taipei City. The certification acknowledges the company's commitment to indoor environmental quality (IEQ) across indoor air, water, hygiene, lighting, and acoustics.

The UL Verified Healthy Building Mark helps address the evolving demands for healthy building environments in the commercial real estate sector. Nan Shan Life underwent rigorous performance testing and visual inspections to achieve this designation, which includes an annual assessment and mid-year surveillance.

Sean McCrady and Jonathan T.H. Chen of UL Solutions presented the award at a ceremony on May 13, highlighting the milestone's significance for enhancing tenant, employee, and visitor well-being.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.28%
Tags
none
-
Rhea-AI Summary

UL Solutions Inc. (NYSE: ULS) will release its first quarter 2024 financial results on May 20, 2024. The company is a global safety science leader providing testing, inspection, certification services, and software. Management will host a webcast and conference call to review the results.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.24%
Tags
Rhea-AI Summary
UL Solutions Inc. announced the pricing of its upsized initial public offering of 33,800,000 shares of its Class A common stock at $28.00 per share. The offering consists of secondary shares to be sold by UL Standards & Engagement. The shares will trade on the NYSE under the ticker symbol 'ULS'.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
UL Solutions Inc.

NYSE:ULS

ULS Rankings

ULS Stock Data

8.40B
38.87M
Services-testing Laboratories
United States of America
NORTHBROOK