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UL Solutions ULS Q1 2025 earnings

Reported May 6, 2025 · Before market open

Revenue estimate$704.2M
EPS estimate$0.32

Next report

Aug 4, 2026 (In 3 weeks)
Revenue estimate$816.1M
EPS estimate$0.56

Financials

Q1 2025

Income statement

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Revenue$705.0M+5.2%
Gross profit$340.0M+6.6%
Operating income$109.0M+19.8%
Net income$67.0M+19.6%
EPS (diluted)$0.33+17.9%

Balance sheet

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Cash & equivalents$267.0M-22.4%
Total debt$843.0M-18.3%
Total equity$970.0M+44.6%
Total assets$2.9B+2.1%

Cash flow

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Operating cash flow$154.0M+9.2%
CapEx$51.0M-10.5%
Free cash flow$103.0M+22.6%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$11.29B
Enterprise value$11.87B
P/E33.5×
P/S3.9×

Profitability

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Gross margin48.6%+0.5pp
Operating margin16.5%+2.4pp
Net margin11.6%+2.0pp
FCF margin10.5%+1.8pp

Returns & leverage

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Return on equity41.1%+12.0pp
Debt / equity0.9×-0.7×
Current ratio1.2×0.0×

Segments

By product

See full
Ongoing Certification Services$245.0M+5.2%
Non-certification Testing and Other Services$203.0M+4.6%
Certification Testing$189.0M+7.4%
Software$68.0M+1.5%

By segment

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Industrial$340.0M+15.3%
Consumer$304.0M+6.3%

Versus estimates

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Questions, answered.

When did UL Solutions report Q1 2025 earnings?
UL Solutions (ULS) reported Q1 2025 earnings on May 6, 2025 before market open.
What were UL Solutions's Q1 2025 revenue and EPS?
UL Solutions reported revenue of $705.0M and diluted EPS of $0.37 for Q1 2025.
Did UL Solutions beat estimates in Q1 2025?
Revenue beat the consensus estimate of $704.2M by $754.3K. EPS beat the consensus estimate of $0.32 by $0.05.
How did UL Solutions's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 5.2% from $670.0M a year earlier and diluted EPS grew 32.1% from $0.28.
Where can I find UL Solutions's Q1 2025 SEC filings?
You can read the 10-Q periodic report (0001901440-25-000019) directly on SEC EDGAR. The filing index links above go to sec.gov.