Financial Data and Key Metrics Changes - For the full year 2024, the company reported revenues of $2.9 billion, an increase of 7.2% compared to 2023, and an 8.7% increase on an organic basis [13] - Adjusted EBITDA for the full year grew by 16.5%, with an adjusted EBITDA margin expansion of 190 basis points [15] - Free cash flow for the full year was $287 million, up from $252 million in 2023 [33] Performance by Business Segment - The Industrial segment led growth with a full year increase of 9.4%, including 11.9% organic growth [14] - The Consumer segment grew by 5.6%, with 6.9% organic growth [14] - The Software & Advisory segment reported 5% top line growth, with 4.4% organic growth [14] Market Data and Key Metrics Changes - Consolidated revenue for Q4 2024 was $739 million, up 8.0% year-over-year, with organic growth of 9.5% [22] - The Industrial segment achieved 13.9% organic growth in Q4, marking seven consecutive quarters of double-digit organic revenue growth [25] - The Consumer segment's revenue was $309 million, up 5.5% from the previous year, with a 6.5% organic growth [28] Company Strategy and Industry Competition - The company focuses on megatrends such as global energy transition, electrification, and digitalization to drive growth [10] - The management emphasizes a disciplined capital allocation strategy, including investments in acquisitions and organic growth initiatives [18] - The company aims to maintain an investment-grade rating while pursuing strategic M&A opportunities [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth despite potential normalization in ongoing certification services due to tariff anticipation [56] - The company expects mid-single-digit organic revenue growth for 2025, following an 8.7% growth in 2024 [36] - The effective tax rate for 2025 is anticipated to be approximately 26%, up from 16.9% in 2024, due to changes in tax regulations [39] Other Important Information - The company opened new labs and made two acquisitions in 2024 to align with growth trends [35] - The U.S. Federal Communications Commission appointed the company as the lead administrator for the Cyber Trust Mark program, enhancing its role in cybersecurity [42] Q&A Session Summary Question: Can you comment on your 2025 outlook by each of your three segments? - Management sees opportunities in all three segments, with continued growth expected [48] Question: What are the expectations for the Industrial segment's strength in 2025? - Management noted ongoing certification services may normalize, but the underlying megatrends remain strong [52][56] Question: How do tariffs impact the business? - Historically, tariffs have not materially affected the business; instead, they often lead to increased testing demand as manufacturers adjust their strategies [68] Question: Can you elaborate on the margin guidance for 2025? - The company aims for approximately 24% adjusted EBITDA margin, reflecting ongoing operational improvements [77] Question: What is the impact of foreign exchange on margins? - A 1% headwind is expected from foreign exchange, but it is largely offset by reduced expenses [126] Question: What are the drivers of growth in the software business? - The software business is seeing growth due to strong demand for compliance and sustainability solutions [148]

Earnings Presentation Q4 2024 UL SOLUTIONS INC. February 20, 2025 © 2025 UL LLC. All Rights Reserved. Forward looking statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, about UL Solutions' (the "Company") financial results and estimates and business prospects that involve substantial risks and uncertainties. You can identify these statements by the use of words such as "may," "will," "should," "would," "l ...

Revenue Growth - Fourth Quarter 2024 revenue reached $739 million, an increase of 8.0% compared to $684 million in Q4 2023, with organic growth of 9.5% across all segments[4] - For the full year 2024, total revenue was $2.9 billion, reflecting a 7.2% increase, with organic growth of 8.7%[7] - Revenue for Q4 2024 was $739 million, a 8.1% increase from $684 million in Q4 2023[29] - The company reported a total revenue growth of 7.2% for the year ended December 31, 2024, compared to the previous year[34] - Revenue for Q4 2024 reached $739 million, a 8.1% increase from $684 million in Q4 2023, with total revenue for 2024 at $2,870 million, up from $2,678 million in 2023[43] Net Income and Margins - Net income for Q4 2024 was $85 million, a 37.1% increase from $62 million in Q4 2023, resulting in a net income margin of 11.5%, up 240 basis points[5] - Net income attributable to stockholders rose to $81 million in Q4 2024, compared to $58 million in Q4 2023, marking a 39.7% increase[29] - Net income for Q4 2024 was $85 million, up 37.1% from $62 million in Q4 2023, with a full-year net income of $345 million compared to $276 million in 2023[43] - The net income margin improved to 11.5% in Q4 2024 from 9.1% in Q4 2023, while the adjusted net income margin increased to 13.8% from 9.1% in the same period[49] Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was $169 million, a 27.1% increase from $133 million in Q4 2023, with an adjusted EBITDA margin of 22.9%, expanding 350 basis points[8] - Adjusted EBITDA for the year ended December 31, 2024, was not specified but is a key non-GAAP measure used by management to assess performance[38] - Adjusted EBITDA for Q4 2024 was $169 million, representing a 27.1% increase from $133 million in Q4 2023, with a full-year adjusted EBITDA of $656 million compared to $563 million in 2023[43] Segment Performance - The Industrial segment reported revenue of $328 million, an 11.6% increase, with an adjusted EBITDA margin of 32.0%, up from 26.9% in Q4 2023[9] - The Consumer segment achieved revenue of $309 million, a 5.5% increase, with an adjusted EBITDA margin of 14.6%, up from 12.3% in Q4 2023[10] - The Industrial segment reported revenue of $328 million in Q4 2024, up from $294 million in Q4 2023, with an adjusted EBITDA margin of 32.0% compared to 26.9% in the prior year[47] - The Consumer segment's revenue increased to $309 million in Q4 2024 from $293 million in Q4 2023, with an adjusted EBITDA margin of 14.6%, up from 12.3%[47] - The Software and Advisory segment generated revenue of $102 million in Q4 2024, compared to $97 million in Q4 2023, maintaining an adjusted EBITDA margin of 18.6%[47] Cash Flow and Operating Activities - The company generated $524 million in net cash from operating activities for the year, up from $467 million in 2023[12] - Free Cash Flow for 2024 was $287 million, compared to $252 million in 2023[13] - Free cash flow for the year ended December 31, 2024, was $524 million, up from $467 million in 2023[31] - Free Cash Flow for 2024 was $287 million, an increase from $252 million in 2023, with a Free Cash Flow margin of 10.0% compared to 9.4% in 2023[57] Future Outlook - The company expects mid-single digit constant currency organic revenue growth for 2025[16] - Capital expenditures are projected to be 7% to 8% of revenue, with continued focus on acquisitions and portfolio refinements[23] Assets and Equity - Total assets increased to $2.8 billion as of December 31, 2024, compared to $2.736 billion at the end of 2023[30] - The total stockholders' equity increased to $931 million as of December 31, 2024, from $678 million at the end of 2023[30] Earnings Per Share - The company reported a diluted earnings per share of $0.40 for Q4 2024, up from $0.29 in Q4 2023, with adjusted diluted earnings per share rising to $0.49 from $0.29[54] Interest Expense - Interest expense increased to $13 million in Q4 2024 from $12 million in Q4 2023, while total interest expense for the year was $55 million, up from $35 million in 2023[43]

Company Analysis - UL Solutions (NYSE: ULS) is expected to see growth accelerate to high-single-digit percentages as it leverages its scaled position to capture demand and benefit from market opportunities [1] Investment Approach - The investment approach focuses on identifying undervalued companies with long-term growth potential, combining value investing principles with a focus on long-term growth [1] - The strategy involves buying quality companies at a discount to their intrinsic value and holding them for the long term to allow for compounding earnings and shareholder returns [1]

UL Solutions Inc. (ULS) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission file number 001-42012 UL Solutions Inc. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...

Exhibit 99.1 UL Solutions Inc. Reports Strong Third Quarter 2024 Results 1 Third Quarter 2024 (Comparisons to Third Quarter 2023 unless otherwise noted) • Strong revenue growth of 8.1% to $731 million, including 9.3% organic growth • Net income of $94 million or, $0.44 per diluted share • Adjusted Net Income of $104 million increased 6.1% • Adjusted EBITDA of $183 million increased 12.3%, Adjusted EBITDA margin of 25.0% expanded 90 basis points • Net cash provided by operating activities of $394 million and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission file number 001-42012 UL Solutions Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Exhibit 99.1 UL Solutions Inc. Reports Strong Second Quarter 2024 Results 1 Second Quarter 2024 (Comparisons to Second Quarter 2023 unless otherwise noted) • Strong revenue growth of 6.0% to $730 million, including 8.4% organic growth • Net income of $106 million or, $0.50 per diluted share • Adjusted Net Income of $94 million increased 5.6% • Adjusted EBITDA of $173 million increased 11.6%, Adjusted EBITDA margin of 23.7% expanded 120 basis points • Net cash provided by operating activities of $244 million ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission file number 001-42012 UL Solutions Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...