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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.