$ULS
UL Solutions Inc.

2024 Q3 Form 10-Q Financial Statement

#000190144024000023 Filed on November 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2023 Q3
Revenue $731.0M $676.0M
YoY Change 8.14%
Cost Of Revenue $373.0M $344.0M
YoY Change 8.43%
Gross Profit $358.0M $332.0M
YoY Change 7.83%
Gross Profit Margin 48.97% 49.11%
Selling, General & Admin $228.0M $205.0M
YoY Change 11.22%
% of Gross Profit 63.69% 61.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $43.00M $111.0M
YoY Change -61.26%
% of Gross Profit 12.01% 33.43%
Operating Expenses $228.0M $205.0M
YoY Change 11.22%
Operating Profit $130.0M $127.0M
YoY Change 2.36%
Interest Expense $1.000M -$11.00M
YoY Change -109.09%
% of Operating Profit 0.77% -8.66%
Other Income/Expense, Net $0.00 -$4.000M
YoY Change -100.0%
Pretax Income $116.0M $75.00M
YoY Change 54.67%
Income Tax $22.00M $18.00M
% Of Pretax Income 18.97% 24.0%
Net Earnings $88.00M $53.00M
YoY Change 66.04%
Net Earnings / Revenue 12.04% 7.84%
Basic Earnings Per Share $0.44 $0.27
Diluted Earnings Per Share $0.44 $0.27
COMMON SHARES
Basic Shares Outstanding 200.0M shares 200.0M shares
Diluted Shares Outstanding 202.0M shares 200.0M shares

Balance Sheet

Concept 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $327.0M $457.0M
YoY Change -28.45%
Cash & Equivalents $327.0M $457.0M
Short-Term Investments $0.00
Other Short-Term Assets $73.00M $88.00M
YoY Change -17.05%
Inventory
Prepaid Expenses $43.00M
Receivables $354.0M $540.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $977.0M $1.085B
YoY Change -9.95%
LONG-TERM ASSETS
Property, Plant & Equipment $785.0M $651.0M
YoY Change 20.58%
Goodwill $651.0M
YoY Change
Intangibles
YoY Change
Long-Term Investments $65.00M
YoY Change
Other Assets $150.0M $177.0M
YoY Change -15.25%
Total Long-Term Assets $1.900B $1.721B
YoY Change 10.4%
TOTAL ASSETS
Total Short-Term Assets $977.0M $1.085B
Total Long-Term Assets $1.900B $1.721B
Total Assets $2.877B $2.806B
YoY Change 2.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $138.0M $128.0M
YoY Change 7.81%
Accrued Expenses $260.0M $276.0M
YoY Change -5.8%
Deferred Revenue $253.0M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $37.00M
YoY Change
Total Short-Term Liabilities $745.0M $676.0M
YoY Change 10.21%
LONG-TERM LIABILITIES
Long-Term Debt $760.0M $499.0M
YoY Change 52.3%
Other Long-Term Liabilities $101.0M $434.0M
YoY Change -76.73%
Total Long-Term Liabilities $861.0M $933.0M
YoY Change -7.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $745.0M $676.0M
Total Long-Term Liabilities $861.0M $933.0M
Total Liabilities $1.981B $1.628B
YoY Change 21.68%
SHAREHOLDERS EQUITY
Retained Earnings $194.0M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $872.0M $1.178B
YoY Change
Total Liabilities & Shareholders Equity $2.877B $2.806B
YoY Change 2.53%

Cashflow Statement

Concept 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $88.00M $53.00M
YoY Change 66.04%
Depreciation, Depletion And Amortization $43.00M $111.0M
YoY Change -61.26%
Cash From Operating Activities $150.0M $341.0M
YoY Change -56.01%
INVESTING ACTIVITIES
Capital Expenditures $66.00M $156.0M
YoY Change -57.69%
Acquisitions
YoY Change
Other Investing Activities -$16.00M $38.00M
YoY Change -142.11%
Cash From Investing Activities -$82.00M -$118.0M
YoY Change -30.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -43.00M -75.00M
YoY Change -42.67%
NET CHANGE
Cash From Operating Activities 150.0M 341.0M
Cash From Investing Activities -82.00M -118.0M
Cash From Financing Activities -43.00M -75.00M
Net Change In Cash 25.00M 148.0M
YoY Change -83.11%
FREE CASH FLOW
Cash From Operating Activities $150.0M $341.0M
Capital Expenditures $66.00M $156.0M
Free Cash Flow $84.00M $185.0M
YoY Change -54.59%

Facts In Submission

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UL Solutions Inc.
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CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6000000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
797000000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
904000000 usd
CY2024Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
37000000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
760000000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
904000000 usd
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
200000000 shares
us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
0 shares
uls Stock Issued During Period Shares Initial Public Offering
StockIssuedDuringPeriodSharesInitialPublicOffering
0 shares
uls Stock Issued During Period Shares Follow On Public Offering
StockIssuedDuringPeriodSharesFollowOnPublicOffering
0 shares
us-gaap Stock Issued During Period Shares Employee Stock Ownership Plan
StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan
16444 shares
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
200016444 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10000000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-3000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8000000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1000000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4000000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2000000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
9000000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
-3000000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
21000000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
6000000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10000000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
-3000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8000000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2074299 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
28.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
79719 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
28.00
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1994580 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.00
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y6M
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
42000000 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.84
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
731000000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
676000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2131000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1994000000 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
130000000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
89000000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
347000000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
282000000 usd

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0001901440-24-000023.txt Edgar Link pending
0001901440-24-000023-xbrl.zip Edgar Link pending
exhibit311q32024.htm Edgar Link pending
exhibit312q32024.htm Edgar Link pending
exhibit321q32024.htm Edgar Link pending
exhibit322q32024.htm Edgar Link pending
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uls-20240930.htm Edgar Link pending
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