$ULS · UL Solutions Inc.
UL Solutions reported Q3 2026 revenue of $823M (+5.1% YoY, 7.0% organic), net income of $117M (+10.4%), and Adjusted Diluted EPS of $0.62 (+10.7%). Adjusted EBITDA margin hit a record 28.6%, up 90 bps. The company raised its full-year organic revenue growth outlook to ~6.5% and reaffirmed Adjusted EBITDA margin guidance of ~27.0%.
- Revenue of $823M, up 5.1% YoY, with 7.0% organic growth led by Industrial and Consumer segments.
- Adjusted EBITDA of $235M, up 8.3% YoY; Adjusted EBITDA margin expanded 90 bps to a record 28.6%.
- Adjusted Diluted EPS of $0.62, up 10.7% YoY from $0.56.
- Nine-month operating cash flow of $594M, up 30.3% YoY; Free Cash Flow of $395M, up 24.6%.
- Full-year organic revenue growth outlook raised to ~6.5% from prior; Adjusted EBITDA margin outlook reaffirmed at ~27.0%.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
UL Solutions delivered broad-based beats on revenue, margins, and cash flow while raising guidance and closing its largest-ever acquisition — signaling strong execution and strategic momentum.
UL Solutions' 7% organic growth and 28.6% Adjusted EBITDA margin place it among the stronger performers in the TIC (testing, inspection, certification) sector, benefiting from energy transition and electrification megatrends.
Geopolitical uncertainty may cause customers to modify, delay, or cancel service purchases; the company cannot reasonably determine future negative impacts. The Restructuring Plan involves exiting certain business lines, and the E&E Transaction ($686M) closed October 1, 2026, adding integration risk.