UL Solutions Inc. - ULS STOCK NEWS

UL Solutions has appointed Alex Dadakis as Executive Vice President, Chief Business Operations and Innovation Officer, effective January 27, 2025. Dadakis, previously Senior Vice President, Global Head of Strategy and Corporate Development at Knauf Group, will report to CEO Jennifer Scanlon.

In this newly created role, Dadakis will oversee day-to-day business operations and lead areas including science-led strategy, commercial excellence, communications, technology, and innovation. This appointment aligns with UL Solutions' Alpha strategy, launched in 2020, which aims to strengthen and simplify customer experience through a centralized business model.

Dadakis brings experience from previous roles at USG as SVP and Chief Customer Experience and Strategy Officer, and as an associate partner at Bain & Company.

UL Solutions (NYSE: ULS), a global leader in applied safety science, has announced its senior management team will participate in the Raymond James 2024 TMT & Consumer Conference. The event is scheduled to take place on Monday, December 9, 2024.

UL Solutions has been recognized as an innovator in the Verdantix Green Quadrant: ESG and Sustainability Assurance Services 2024 report. The company earned this recognition for its comprehensive ESG advisory and assurance services, which help organizations navigate complex sustainability challenges.

Key attributes highlighted include strong technical expertise in environmental metrics assurance, particularly carbon emissions, and comprehensive assurance services across corporate, product, project, and site levels. Since 2019, UL Solutions has provided enterprise ESG assurance services, expanding its practice in 2023 with a worldwide network of domain experts and the enhanced UL 360 platform, an ULTRUS™ software solution for ESG performance management.

UL Solutions (NYSE: ULS) has declared a quarterly dividend of $0.125 per share. The dividend is scheduled for payment on December 9, 2024, to shareholders who are on record as of the close of business on November 29, 2024.

UL Solutions has expanded its Mexico laboratory capacity to meet growing demand for product safety and performance testing in Latin America. The expansion adds testing capabilities for consumer technology, automotive, and wire and cable products, supporting exports to the US, Canada, and throughout Latin America. Located in Querétaro, the facility has achieved certification as an external laboratory partner by Volkswagen de Mexico. The laboratory, which opened in May 2022, is situated in a thriving industrial region with a strong manufacturing base, particularly in the automotive sector. Mexico ranks as the world's seventh-largest passenger vehicle manufacturer, producing 3.5 million vehicles annually, with 88% exported and 76% destined for the US.

UL Solutions (NYSE: ULS) reported strong Q3 2024 results with revenue growing 8.1% to $731 million, including 9.3% organic growth. Net income reached $94 million ($0.44 per diluted share), up 64.9% year-over-year. Adjusted EBITDA increased 12.3% to $183 million with a margin of 25.0%. The company demonstrated robust performance across all segments, with Industrial and Consumer segments showing particular strength. Free Cash Flow reached $215 million for the first nine months of 2024. The company strengthened its full-year outlook, projecting mid-to-high single-digit organic revenue growth.

UL Solutions Inc. (NYSE: ULS), a global leader in applied safety science, has announced the release date for its third quarter 2024 financial results. The company will unveil its results on Tuesday, November 5, before the market opens. Following the release, management will host a webcast and conference call at 8:30 a.m. EST (7:30 a.m. CST) to review the results.

Investors and interested parties can access the live broadcast of the conference call via the Internet. A slide presentation will accompany the call. To participate, listeners should visit the Investors section of UL Solutions' website at www.ul.com. For those unable to attend the live broadcast, an audio replay will be available on the company's website for 30 days following the call.

UL Solutions has issued a warning about unauthorized UL Marks on combustible gas detectors. The affected product is the Techamor model Y302 plug-in Combustible Gas Detector, which has not been evaluated by UL Solutions for safety standards compliance. UL Solutions recommends that these detectors be discarded.

The unauthorized products bear labels with the following information:

• Techamor Combustible Gas Detector
• Model Y302
• Applicable Gas: Methane and Propane
• Input: 110-230V, 3W, Class II
• Producer: Shenzhen Yeezhou Technology Co.

These detectors were sold on Amazon.com until July 2024 and possibly other e-commerce sites. UL Solutions emphasizes that it is unknown if the product complies with any safety requirements.

UL Solutions Inc. (NYSE: ULS) has launched the AI Model Transparency Benchmark, a groundbreaking rating program for devices incorporating artificial intelligence. This initiative aims to address concerns about AI reliability, security, and ethical implications, promoting responsible AI development. The program assesses AI model transparency by examining key areas such as data management, model development, security, deployment, and ethical considerations.

The benchmark provides a clear rating of an AI system's transparency and trustworthiness, resulting in a marketing claim verification. Systems are scored from 0 to 100, with ratings ranging from 'not rated' (≤50) to Diamond (≥81). This standardized framework helps businesses and consumers make informed decisions about adopting and using AI-enabled products, potentially addressing the concerns reported by 52% of Americans according to the AI Index 2024 Annual Report by Stanford University.