UL Solutions Inc. (NYSE: ULS) stock surged over 6% in pre-market trading on Tuesday after the company reported better-than-expected third-quarter results and raised its full-year revenue guidance.
The safety science company posted Q3 adjusted earnings of $0.49 per share, beating analysts' estimates of $0.39. Revenue grew 8.1% year-over-year to $731 million, also exceeding expectations of $708.7 million.
Notably, UL Solutions raised its outlook for fiscal 2024, now anticipating mid-to-high single-digit constant currency organic revenue growth, up from its previous guidance. The company also reiterated its expectation for an improved adjusted EBITDA margin and capital expenditures of 8.0% to 8.5% of revenue.
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