UL Solutions - ULS STOCK NEWS

UL Solutions (NYSE: ULS), a global leader in applied safety science, has announced its senior management's participation in the upcoming Raymond James 46th Annual Institutional Investors Conference. The event is scheduled for Monday, March 3, and Tuesday, March 4.

UL Solutions Inc. reported strong financial results for Q4 and full year 2024. Q4 revenue grew by 8.0% to $739 million, with organic growth of 9.5%. Net income increased by 37.1% to $85 million, while diluted EPS rose by 37.9% to $0.40. Adjusted diluted EPS surged by 69.0% to $0.49. Adjusted EBITDA grew by 27.1% to $169 million, with a margin expansion of 350 basis points to 22.9%.

For the full year, revenue increased by 7.2% to $2.9 billion, with organic growth at 8.7%. Net income rose by 25.0% to $345 million, and diluted EPS increased by 24.6% to $1.62. Adjusted diluted EPS grew by 18.1% to $1.70. Adjusted EBITDA was up by 16.5% to $656 million, with a margin of 22.9%.

UL Solutions completed its IPO in April and generated $524 million in net cash from operating activities, with a free cash flow of $287 million. The company paid a dividend of $25 million in Q4 and ended the year with $298 million in cash and cash equivalents.

Looking ahead to 2025, UL Solutions expects mid-single digit organic revenue growth and aims to improve its Adjusted EBITDA margin to approximately 24%.

UL Solutions (NYSE: ULS) announced changes to its board of directors. Director Frank Coyne will not seek re-election at the 2025 annual meeting due to retirement policy, while Director Lisa Lambert will not stand for election for personal reasons. The board intends to nominate Vikram Kini, current SVP and CFO of Ingersoll Rand, as a new board member.

Coyne, who joined in 2012, served on the UL Research Institutes board from 2009 to 2017. Lambert has served since June 2021. Kini brings extensive financial leadership experience from his roles at Ingersoll Rand, Gardner Denver Holdings, General Electric, and SABIC. Following these changes, the board size will reduce from 13 to 12 members.

UL Solutions (NYSE: ULS) announced the development of a new Global Fire Science Center of Excellence in Northbrook, Illinois, reinforcing its leadership in fire safety testing. The facility, located on UL Solutions' 110-acre campus north of Chicago, will combine new construction with modernization of existing laboratories.

The center will provide enhanced research capabilities and testing services for various fire safety products, including sprinklers, fire extinguishers, and firefighting foam. It will serve customers from Asia, Europe, the Middle East, and North America, featuring a dedicated R&D hub for product safety development.

The facility aims to help manufacturers bring innovations to market faster while meeting safety standards and regulatory requirements. It will support customers in risk mitigation, building code compliance, and insurance requirements verification.

UL Solutions (NYSE: ULS) has announced a quarterly dividend increase of $0.005 per share, raising it to $0.13 per share. This adjustment brings the annual dividend rate to $0.52 per share, representing a 4% increase from the previous rate. The dividend will be paid on March 10, 2025, to shareholders of record as of February 28, 2025.

UL Solutions (NYSE: ULS) and OpenEngagement have announced a strategic partnership to assist Australian companies in complying with new mandatory climate reporting requirements. The collaboration combines UL Solutions' ESG advisory services and ULTRUS™ software portfolio with OpenEngagement's strategic guidance to help businesses meet upcoming regulatory demands.

The partnership addresses Australia's Treasury Laws Amendment bill, which requires large and medium-sized companies to report on climate-related risks, opportunities, and greenhouse gas emissions across their supply chains. The initiative will leverage UL Solutions' UL 360 ESG data management software, part of the ULTRUS™ platform, to simplify ESG compliance.

UL Solutions has recently been recognized as an Innovator in the Verdantix Green Quadrant: ESG and Sustainability Assurance Services 2024 report for its technical expertise in carbon emissions assurance and comprehensive service portfolio. The ULTRUS™ software platform has also been acknowledged in the Verdantix Green Quadrant: EHS Software 2025 report.

Silicon Motion (SIMO) has achieved ASPICE Capability Level 3 (CL3) certification for its PCIe Gen4 SSD controller, becoming the first SSD controller vendor worldwide to reach this milestone. The certification, assessed by UL Solutions, demonstrates the company's ability to implement standardized workflows and process assets at the corporate level.

The achievement is particularly significant in the context of software-defined and autonomous vehicles, where software quality control is increasingly critical. Silicon Motion's automotive-grade SSD storage solutions feature proprietary firmware designed for durability, performance, and power efficiency. The company's products comply with key automotive standards including AEC-Q100, IATF 16949, ISO 21434, and ISO 26262 ASIL B.

UL Solutions (NYSE: ULS) has scheduled its fourth quarter and full year 2024 financial results announcement for Thursday, February 20, before market opening. The company will host a webcast and conference call at 8:30 a.m. EST (7:30 a.m. CST) on the same day to discuss the results.

The conference call will be streamed live online and accompanied by a slide presentation. Investors can access both through the Investors section of UL Solutions' website. An audio replay will remain available on the company website for 30 days following the broadcast.

UL Solutions (NYSE: ULS) and Korea's Ministry of Small and Medium-Sized Enterprises and Startups (MSS) have launched the next phase of their collaboration to support South Korean startups in navigating product testing for the United States market. Following their April 2023 memorandum of understanding (MoU), seven Korean companies from the South Jeolla Province (Jeollanam-do) have been selected to receive guidance from UL Solutions.

The initiative combines UL Solutions' safety science expertise with a global certification support center in Jeollanam-do to provide market access readiness support. The agreement is being overseen by the minister of SMEs and Startups, with the next group of participating tech startups to be determined in 2025.