UL Solutions Inc. - ULS STOCK NEWS

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.

UL Solutions (NYSE: ULS) has expanded its smoke detection device sensitivity testing to its Suzhou, China laboratory. This expansion enhances in-region accessibility to testing and efficiency in product research and development, addressing new certification requirements that can help advance fire safety. The facility can now test smoke detection devices according to various sensitivity test requirements of UL 268 and UL 217 standards.

These standards were updated to help mitigate cooking nuisance alarms while addressing smoke from fires in modern environments. The expansion supports UL Solutions' mission of working for a safer world and helps global customers innovate with confidence. It provides a pathway for manufacturers to demonstrate initial product performance regarding smoke sensitivity response, a critical aspect of technology application and product development.

UL Solutions (NYSE: ULS) has opened a new portable generator testing laboratory in Toronto to help manufacturers create safer products and prevent carbon monoxide (CO) poisoning. The lab tests generators for CO emissions and shutoff technology, adhering to UL 2201 standards. This initiative addresses safety concerns, as the U.S. Consumer Product Safety Commission reports an average of 92 deaths annually linked to portable generators.

To achieve certification, generators must limit CO emissions and have sensors to shut off if high CO levels are detected. Consumers can identify UL Certified models by looking for the UL Certification Mark and checking the UL Product iQ® database. This new facility aims to enhance consumer safety during power outages, wildfires, and natural disasters when portable generators are commonly used.

UL Solutions and Eyesafe have launched a new program to verify the efficacy of blue light and screen protection products for electronic devices. This UL Marketing Claim Verification program uses Eyesafe Screen Accessories 2.1 criteria to assess product performance, providing consumers with objective information about blue light reduction and color integrity.

The program measures peak filtration at 435-440 nanometers and evaluates blue light toxicity reduction, correlated color temperature shift, and luminance reduction. Verified products receive a Radiance Protection Factor (RPF), ranging from 20 to 80, similar to SPF for sunscreen. Higher RPF indicates greater blue light protection.

Upon verification, brands can use the UL Eyesafe Verified Mark on their products and marketing materials, offering transparency and credibility to consumers concerned about visual discomfort and sleep disruption due to increased screen time.

UL Solutions (NYSE: ULS) has achieved a significant milestone in advancing electric vehicle (EV) adoption by issuing its first certification in Europe for a 400 kW fast EV charger manufactured by Alpitronic. The Alpitronic HYC400, certified to UL 2202 standard, marks the company's entry into the North American market. This certification demonstrates UL Solutions' commitment to supporting the growing demand for higher power and faster charging in the EV industry.

The certification process, conducted at UL Solutions' EV Charging Test Center in Neu-Isenburg, involved rigorous safety and performance evaluations. The 400 kW charger can significantly reduce charging times, addressing a major concern for EV adoption. This development aligns with the global trend of increasing EV adoption and the rapid expansion of charging infrastructure, particularly fast chargers.