UL Solutions Inc. - ULS STOCK NEWS

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.

UL Solutions Inc. (NYSE: ULS), a global leader in applied safety science, has announced the release date for its second quarter 2024 financial results. The company will disclose the results before the market opens on Wednesday, July 31. Following the release, management will host a webcast and conference call at 8:30 a.m. EDT (7:30 a.m. CDT) to review the results.

Investors and interested parties can access the live broadcast of the conference call and accompanying slide presentation through the Investors section of UL Solutions' website at www.ul.com. For those unable to attend the live event, an audio replay will be available on the company's website for 30 days following the call.

UL Solutions (NYSE: ULS) has announced the acquisition of TesTneT Engineering, a Germany-based leader in hydrogen component and system testing. This acquisition enhances UL Solutions’ capabilities in alternative fuels and global decarbonization efforts. TesTneT, founded in 2009, provides comprehensive testing services for hydrogen storage systems and refueling stations. With locations near Munich and Vancouver, TesTneT serves a global customer base, including the automotive sector and top-tier OEMs. This acquisition strengthens UL Solutions' position in the hydrogen industry by adding advanced testing capabilities and deep industry knowledge. The transaction concluded on July 8, 2024, but financial terms were not disclosed.

UL Solutions (NYSE: ULS) announced plans to construct an Advanced Automotive and Battery Testing Center in Pyeongtaek, Korea. The new facility will expand UL's battery testing capabilities, including EV charger testing and automotive plastic safety. Expected to open in the second half of 2025, the center aims to meet growing demands in the Asia Pacific region and strengthen Korea's EV industry. The project awaits local government approvals and will enhance UL's global testing network, complementing facilities in China, Germany, and the U.S.

UL Solutions (NYSE: ULS), a leader in applied safety science, has awarded the Grand Hyatt Seoul the UL Verified Healthy Building Mark for Indoor Environmental Quality. This is the first hotel in Asia to earn this recognition, signifying its commitment to health and safety.

The Grand Hyatt underwent stringent checks, including air handling evaluations, janitorial effectiveness, and air quality testing, reviewed by UL experts. The evaluations align with standards from the EPA, NIOSH, WHO, and ASHRAE.

The verification ensures mid-year and annual assessments to maintain this status. The hotel has also implemented additional health measures like sanitizer stations, frequent cleaning, and accredited training.

This recognition is part of the Grand Hyatt's strategy to boost occupancy and reassure guests and staff of their safety.

UL Solutions has unveiled new features and content for its UL 360 software, aimed at aiding companies in adhering to the EU's Corporate Sustainability Reporting Directive (CSRD). These updates form part of the ULTRUS™ brand, designed to enhance global safety and sustainability initiatives. The new CSRD features and the ESG Disclosure module help businesses manage extensive and costly data analysis, saving time and money in preparation for mandatory verifications. CSRD, applicable to both EU and significant non-EU businesses, expands previous regulations to increase detailed sustainability reporting. By 2028, over 50,000 companies are expected to comply with CSRD requirements.

Governor J.B. Pritzker has declared June 3 as UL Solutions Day in Illinois, recognizing the company's extensive contributions to safety science since its founding in Chicago in 1894. UL Solutions, listed on the NYSE under the symbol ULS, provides testing, inspection, certification services, and software products across over 35 industries, impacting sectors such as sustainable energy, consumer technology, and automotive. The company's global presence is marked by its iconic UL Mark on billions of products. CEO Jennifer Scanlon expressed excitement about the recognition, highlighting UL's mission of working for a safer world.