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UL Solutions ULS Q1 2026 earnings

Reported May 5, 2026 · Before market open

Revenue$758.0MBeat by $9.5MDiluted EPS$0.50Beat by $0.08
Revenue estimate$748.5M
EPS estimate$0.42

Next report

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

Financials

Q1 2026

Income statement

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Revenue$758.0M+7.5%
Gross profit$381.0M+12.1%
Operating income$138.0M+26.6%
Net income$92.0M+37.3%
EPS (diluted)$0.45+36.4%

Balance sheet

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Cash & equivalents$258.0M-3.4%
Total debt$539.0M-36.1%
Total equity$1.3B+36.0%
Total assets$3.0B+2.7%

Cash flow

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Operating cash flow$219.0M+42.2%
CapEx$69.0M+35.3%
Free cash flow$150.0M+45.6%

Valuation & ratios

Valuation

as of 07/09/26
See full
Market cap$17.4B+52.6%
Enterprise value$17.68B+47.6%
P/E49.7×+15.9×
P/S5.6×+1.7×

Profitability

See full
Gross margin49.9%+1.3pp
Operating margin17.7%+1.2pp
Net margin11.3%-0.3pp
FCF margin14.5%+4.0pp

Returns & leverage

See full
Return on equity30.6%-10.5pp
Debt / equity0.4×-0.5×
Current ratio1.2×-0.1×

Segments

By product

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Ongoing Certification Services$265.0M+8.2%
Certification Testing$211.0M+11.6%
Non-certification Testing and Other Services$209.0M+3.0%
Software$73.0M+7.4%

By segment

See full
Industrial$375.0M+10.3%
Consumer$318.0M+4.6%
Risk & Compliance Software$65.0M—

Versus estimates

Revenue

Q1 2026$758.0MBeat by $9.5M
Q4 2025$789.0MBeat by $6.6MQ3 2025$783.0MBeat by $12.1MQ2 2025$776.0MBeat by $7.2MQ1 2025$705.0MBeat by $754.3KQ4 2024$739.0MBeat by $34.8M

Diluted EPS

Q1 2026$0.50Beat by $0.08
Q4 2025$0.53Beat by $0.08Q3 2025$0.56Beat by $0.09Q2 2025$0.52Beat by $0.05Q1 2025$0.37Beat by $0.05Q4 2024$0.49Beat by $0.11

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Questions, answered.

When did UL Solutions report Q1 2026 earnings?
UL Solutions (ULS) reported Q1 2026 earnings on May 5, 2026 before market open.
What were UL Solutions's Q1 2026 revenue and EPS?
UL Solutions reported revenue of $758.0M and diluted EPS of $0.50 for Q1 2026.
Did UL Solutions beat estimates in Q1 2026?
Revenue beat the consensus estimate of $748.5M by $9.5M. EPS beat the consensus estimate of $0.42 by $0.08.
How did UL Solutions's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.5% from $705.0M a year earlier and diluted EPS grew 35.1% from $0.37.
Where can I find UL Solutions's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001901440-26-000009) and the 10-Q periodic report (0001901440-26-000012) directly on SEC EDGAR. The filing index links above go to sec.gov.