Company Reports

UL Solutions reported second-quarter revenue of $816 million, an increase of 5% year on year, and nearly 7% organically. In turn, adjusted EBITDA margin totaled 26.8%, up 140 basis points year on year. Despite the expected results, the stock declined roughly 14% on the trading day.

UL Solutions is a global leader in the testing, inspection, and certification, or TIC, industry.

UL Solutions grew revenue 7.5% year on year to $758 million (5.7% organically), while adjusted EBITDA margin expanded 320 basis points year on year to 26.0%. The stock price rose sharply by 14% on the trading day May 5.

UL Solutions is a global leader in the testing, inspection, and certification industry.

UL Solutions is a global leader in the testing, inspection, and certification industry.

UL Solutions reported fourth-quarter organic sales growth up 5.7% year on year and EBITDA margin of 27.5% (22.9% in the prior-year period). Initial 2026 guidance calls for mid-single-digit organic growth and EBITDA margin of 26.5%-27.0%.

UL Solutions is a global leader in the testing, inspection, and certification industry. The TIC industry is highly fragmented, with thousands of smaller players operating locally or in niche fields. Additionally, some manufacturers choose to insource TIC requirements. Over time, we expect the outsourced product TIC market to grow faster than the global TIC market as companies look to outsourcing to control costs and respond quickly to new regulations.

On Dec. 2, 2025, UL Solutions announced a secondary offering of 12.5 million shares by UL Standards & Engagement, its majority shareholder. Shares sold off 10% following the news.

UL Solutions reported third-quarter organic sales growth up 6.3% year on year and EBITDA margin of 27.7% (25.0% in prior-year period). Full-year 2025 EBITDA guidance was raised to 25% from 24%, while revenue guidance was largely unchanged. Shares rose 15% at the time of writing on Nov. 4.

UL Solutions is a global leader in the testing, inspection, and certification industry. The TIC industry is highly fragmented, with thousands of smaller players operating locally or in niche fields. Additionally, some manufacturers choose to insource TIC requirements. Over time, we expect the outsourced product TIC market to grow faster than the global TIC market as companies look to outsourcing to control costs and respond quickly to new regulations.

UL Solutions reported second-quarter organic sales growth up 5.5% year on year, driven by strength in its industrial segment (up 7.0%). Management maintained full-year 2025 guidance.

UL Solutions reported first-quarter organic sales growth up 7.6% year on year and EBITDA margin of 22.8%. Full-year guidance of mid-single-digit organic revenue growth and 24% EBITDA margin was maintained.

UL Solutions is a global leader in the testing, inspection, and certification industry. The TIC industry is highly fragmented, with thousands of smaller players operating locally or in niche fields. Additionally, some manufacturers choose to insource TIC requirements. Over time, we expect the outsourced product TIC market to grow faster than the global TIC market as companies look to outsourcing to control costs and respond quickly to new regulations.

On April 9 the US imposed a 104% tariff on Chinese imports. In response, China raised its tariff on US goods to 84% in a further sign of escalating trade tension between the two countries.

UL Solutions reported robust fourth-quarter organic sales growth up 10% year on year, driven by strength in its industrial segment. 2025 guidance expects mid-single-digit organic revenue growth and EBITDA margin of 24%, up 100 basis points year on year.

UL Solutions is a global leader in the testing, inspection, and certification industry. The TIC industry is highly fragmented, with thousands of smaller players operating locally or in niche fields. Additionally, some manufacturers choose to insource TIC requirements. Over time, we expect the outsourced product TIC market to grow faster than the global TIC market as companies look to outsourcing to control costs and respond quickly to new regulations.

UL Solutions reported third-quarter organic sales growth up 9% year on year, driven by strength in industrial and consumer segments. Accordingly, the company lifted its full-year organic sales growth guidance to mid- to high-single digits from mid-single digits.

UL Solutions is a global leader in the testing, inspection, and certification industry. The TIC industry is highly fragmented, with thousands of smaller players operating locally or in niche fields. Additionally, some manufacturers choose to insource TIC requirements. Over time, we expect the outsourced product TIC market to grow faster than the global TIC market as companies look to outsourcing to control costs and respond quickly to new regulations.

After the market closed on Sept. 3, UL Solutions announced a 20 million secondary-share offering by UL Standards & Engagement, its controlling shareholder. The offering consists entirely of secondary shares, with UL Solutions receiving no proceeds.

UL Solutions is a global leader in the testing, inspection, and certification industry. The TIC industry is highly fragmented, with thousands of smaller players operating locally or in niche fields. Additionally, some manufacturers choose to insource TIC requirements. Over time, we expect the outsourced product TIC market to grow faster than the global TIC market as companies look to outsourcing to control costs and respond quickly to new regulations.