UL Solutions Inc. - ULS STOCK NEWS

UL Solutions Inc. (NYSE:ULS) has announced the pricing of a secondary public offering of 20,000,000 shares of its Class A common stock at $49.00 per share. The offering consists entirely of secondary shares to be sold by UL Standards & Engagement, with underwriters having a 30-day option to purchase up to an additional 3,000,000 shares. UL Solutions is not offering any shares and will not receive any proceeds from the sale. The offering is expected to close on September 9, 2024. Goldman Sachs & Co. and J.P. Morgan are acting as lead managing bookrunners, with several other firms participating in various roles. The offering is being made only by means of a prospectus, with copies available from the lead bookrunners.

UL Solutions Inc. (NYSE: ULS) has announced the launch of a proposed secondary public offering of 20,000,000 shares of its Class A common stock. The offering consists entirely of secondary shares to be sold by UL Standards & Engagement, the selling stockholder. Underwriters will have a 30-day option to purchase up to an additional 3,000,000 shares from the selling stockholder. UL Solutions is not offering any shares and will not receive any proceeds from the sale. Goldman Sachs & Co. and J.P. Morgan are acting as lead managing bookrunners, with several other firms involved in various capacities. The offering will be made only through a prospectus, and a registration statement has been filed with the SEC but is not yet effective.

UL Solutions has issued a warning about potentially hazardous communications cable that may pose a fire risk. The affected product is the ELITE CABLE CAT6 24AWG STRANDED - CM, 1000FT, UNSHIELDED cable. UL Solutions recommends removing this product from service as it does not comply with the appropriate Safety Standard.

The cable can be identified by its surface print: 'ELITE 1000X PATCH CABLE CAT 6 GIGASYSTEM --- E224805-W UTP 4PR 24AWG 75C C(UL) US CM'. The box is labeled 'ABA Elite CAT6TM Stranded CM 1000 Ft.' with part number TPM2404N70BL. Only cable boxes with UL serial numbers ranging from AH52585562 to AH52585729 (168 units) are affected. These products were sold in the United States and Canada.

UL Solutions has issued a warning about a potentially hazardous ethernet cable that may pose a fire risk. The affected product is a Category 6 Cable, 23AWG bare copper, 4 pairs, 550MHz, CM, 250 feet, white, sold under the Mediabridge brand. The cable does not comply with appropriate safety standards.

The surface print on the cable reads: MEDIABRIDGE E224831 (UL) CM 4 PAIR 23AWG CAT6 RATED 550MHZ. The product was sold in the United States and Canada through Amazon.com and possibly other e-commerce retailers. Only 106 units with UL serial numbers ranging from AF16296592 to AF16296698 are affected. UL Solutions recommends that this product be removed from service immediately.

UL Solutions has issued a warning about an unauthorized UL Mark on a Wi-Fi Smoke Detector. The product, sold under the 'Jllom' brand, has not been evaluated by UL Solutions to meet appropriate Safety Standards. The company recommends that consumers remove the product from service and replace it with a UL Certified smoke detector.

The unauthorized product is known to be distributed by Jinlankeji Co. and sold through e-commerce retailers, including Walmart.com. UL Solutions emphasizes that it is unknown if the product complies with any safety requirements, potentially putting consumers at risk.

UL Solutions has issued a warning about an unauthorized UL Certification Mark on a battery charger for electric scooters. The product, identified as the FN 60V Battery Charger (Model: DCSP672300), has not been evaluated by UL Solutions for safety standards compliance. UL Solutions recommends that this product be removed from service.

The charger bears an unauthorized UL Certification Mark and has been distributed through Yongkang FeiNuo Trading Co. / Yongkang Xincheng Gongmao Co., . The product's specifications include:

• Input: AC100 - 240V 50/60Hz
• Output: DC67.2V 3.0A

This notification aims to alert consumers and retailers about the potential safety risks associated with using an uncertified battery charger.

UL Solutions Inc. (NYSE: ULS), a global leader in applied safety science, has announced a quarterly dividend of $0.125 per share. The dividend will be paid on September 9, 2024, to shareholders of record as of the close of business on August 30, 2024. This announcement demonstrates the company's commitment to returning value to its shareholders and reflects confidence in its financial stability.

UL Solutions Inc. (NYSE: ULS) has officially opened its North America Advanced Battery Laboratory in Auburn Hills, Michigan, marking the company's largest laboratory investment to date. This state-of-the-art facility, located near Detroit, is designed to provide extensive testing and certification services for automotive and stationary battery safety and performance. The laboratory's strategic location and advanced capabilities position UL Solutions to support the growing trend towards electrification and clean energy across various industries, particularly the automotive sector.

The facility houses cutting-edge battery test equipment and is staffed by UL Solutions experts who perform a wide range of safety and performance tests. These include thermal fire propagation, electrical, mechanical abuse, and environmental testing based on various international standards and specifications. This new laboratory enhances UL Solutions' global network of testing facilities focused on battery technology, reinforcing the company's commitment to supporting the safer commercialization of new battery innovations important for the world's energy transition.

UL Solutions Inc. (NYSE: ULS) reported strong Q2 2024 results, with revenue growing 6.0% to $730 million, including 8.4% organic growth. Net income reached $106 million ($0.50 per diluted share), while Adjusted EBITDA increased 11.6% to $173 million, with a margin expansion of 120 basis points to 23.7%. The company saw growth across all segments, regions, and service lines, driven by global trends in energy transition and sustainability. UL Solutions completed its upsized IPO in April 2024 and reiterated its full-year outlook, expecting mid-single digit organic revenue growth and continued Adjusted EBITDA margin improvement.