UL Solutions Reports Q3 2026 Financial Results and Raises Full-Year Organic Revenue Outlook

UL Solutions Inc. (NYSE: ULS) Q3 2026 Earnings & Operating Update

Overview

On November 3, 2026, UL Solutions Inc. filed Form 8-K under Items 2.02 and 7.01 reporting financial results for the third quarter ended September 30, 2026, and furnishing presentation materials for its earnings conference call.

Key Financial Highlights (Q3 2026 vs. Q3 2025)

• Revenue: Reached $823 million, up 5.1% compared to $783 million in Q3 2025, supported by 7.0% organic revenue growth driven by the Industrial and Consumer segments.
• Net Income & Margins: Net income rose 10.4% to $117 million ($0.53 per diluted share) from $106 million ($0.49 per diluted share). Net income margin reached 14.2%, up 70 basis points.
• Adjusted EBITDA: Rose 8.3% to $235 million, with Adjusted EBITDA margin expanding 90 basis points to 28.6%.
• Adjusted Net Income & EPS: Adjusted net income was $135 million (+13.4%), and Adjusted Diluted EPS stood at $0.62 (+10.7%).
• Cash Flow: Net cash provided by operating activities for the nine months ended September 30, 2026, increased 30.3% to $594 million. Free cash flow rose 24.6% to $395 million.

Strategic & Portfolio Transactions

• E&E Acquisition: Completed the acquisition of Eurofins Scientific SE's electrical and electronics (E&E) business on October 1, 2026, for approximately $686 million in cash.
• DQS Divestiture: Sold its shareholding in DQS Holding GmbH on October 30, 2026, for roughly $117 million, utilizing proceeds to pay down revolving debt.

Full-Year 2026 Guidance Update

• Organic Revenue Growth: Upgraded to approximately 6.5% (constant currency), inclusive of ~70 bps reduction from restructuring business exits.
• Adjusted EBITDA Margin: Expected at approximately 27.0% (~200 bps underlying expansion offset by ~90 bps of incremental transaction costs).
• Capex: Expected at approximately 8.5% of revenue.
• Effective Tax Rate: Anticipated at approximately 26%.