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UL Solutions (ULS) investor relations material
UL Solutions J.P. Morgan 2025 Ultimate Services Investor Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.J.P. Morgan 2025 Ultimate Services Investor Conference summary18 Nov, 2025
Business model and revenue streams
Two main business segments: testing, inspection, and certification, with 33% of revenue recurring from ongoing certification and inspection services.
Industrial tech is the core focus, rooted in electrical safety and large-scale, high-risk products.
Consumer tech involves more human labor and smaller products, resulting in lower margins compared to industrial.
Supply chain shifts and product redesigns drive additional testing and certification revenue.
Software and advisory services are expanding, with cross-selling opportunities and new customer acquisition through the Ultras platform.
Growth drivers and market trends
Industrial segment has experienced double-digit revenue growth in 2023 and 2024, now at high single digits, driven by energy transition, data centers, and new energy storage and transmission needs.
Data center and renewable energy build-outs are significant growth contributors, especially in the U.S.
Ongoing innovation in energy usage and product development is expected to sustain growth.
International expansion and new labs in strategic locations support growth and operational efficiency.
Investment in fire safety research and software for supply chain traceability and ESG reporting are key future growth areas.
Operational efficiency and margin expansion
Margin expansion in industrials is driven by footprint optimization, lab consolidation, and pricing initiatives.
Moving labs to lower-cost locations and increasing lab utilization enhance productivity and margins.
Consumer margins have crossed 20% but remain structurally lower due to labor intensity and volume of samples.
Ongoing efforts to improve operational efficiency and value-added services are expected to support further margin improvement.
What drives Industrial growth beyond 2025?
Dimension data center/renewables revenue impact
Non-leverage factors boosting Industrial margins
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Next UL Solutions earnings date
Q4 202520 Feb, 2026
Next UL Solutions earnings date
Q4 202520 Feb, 2026
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Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
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Frequently asked questions
UL Solutions Inc. is a global safety science company that provides testing, inspection, and certification services. The company specializes in ensuring the safety, quality, and sustainability of products and services across various industries. Key offerings include regulatory compliance testing, certification services, and advisory solutions in areas such as cybersecurity, energy, and sustainability. UL Solutions serves sectors including consumer goods, healthcare, industrial, and energy.
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