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UL Solutions (ULS) investor relations material
UL Solutions Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary5 Aug, 2025
Executive summary
Q2 2025 revenue reached a record $776M, up 6.3% year-over-year, with 5.5% organic growth led by Industrial and Consumer segments.
Adjusted Net Income rose 17% to $110M, while reported Net Income fell to $97M due to higher tax rates and prior-year divestiture gains.
Adjusted EBITDA increased 13.9% to $197M, with margin expanding 170 bps to 25.4%, the highest since IPO.
Free Cash Flow for the first half was $208M, up 58.8% year-over-year; LTM Free Cash Flow reached $364M.
Strategic investments in lab expansions, new service offerings, and acquisitions position the company for growth in energy transition, battery technology, and data centers.
Financial highlights
Q2 2025 revenue: $776M (+6.3% YoY); organic revenue growth: 5.5%.
Adjusted EBITDA: $197M (25.4% margin), up from $173M (23.7%) in Q2 2024.
Adjusted Net Income: $110M (14.2% margin), up from $94M (12.9%) in Q2 2024.
Free Cash Flow for the first half: $208M, up from $131M in 2024; LTM Free Cash Flow: $364M.
Diluted EPS: $0.45; Adjusted Diluted EPS: $0.52, up from $0.44 in Q2 2024.
Outlook and guidance
Affirmed 2025 full-year guidance: mid single-digit organic revenue growth and Adjusted EBITDA margin of ~24%.
Capital expenditures expected at 7–8% of revenue; effective tax rate projected at ~26%.
Continuing to pursue acquisitions, portfolio refinements, and investments in labs and software.
Management monitoring impact of new tax legislation and macroeconomic uncertainty.
Why was Software & Advisory Adjusted EBITDA flat?
Elaborate on the 'portfolio refinements' pursuit.
Assess geopolitical risks on 2025 outlook.
Quantify pull-forward in Industrial/Consumer.
Assess data center growth vs other mega trends.
How will OECD Pillar 2 impact the tax rate?
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Next UL Solutions earnings date
Q3 20254 Nov, 2025
Next UL Solutions earnings date
Q3 20254 Nov, 2025
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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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