UL Solutions Inc. reported fourth‑quarter 2025 revenue of $789 million, a 6.8% year‑over‑year increase, and full‑year revenue of $3.053 billion, the first time the company has surpassed the $3 billion threshold. Adjusted EBITDA margin expanded to 27.5%, up 460 basis points from 22.9% in Q4 2024, while adjusted earnings per share rose to $0.53, beating consensus estimates of $0.46 by $0.07 per share.
Revenue growth was driven by a 6.8% increase in the Industrial segment, led by gains in energy, automation, and fire‑safety testing, and a 7.5% rise in the Consumer segment, powered by consumer‑technology and electromagnetic‑compatibility testing. Q4 2025 revenue of $789 million compared with $739 million in Q4 2024 highlights a steady upward trajectory in both core segments.
Margin expansion was largely attributable to operating leverage and disciplined expense management. Lower services and materials costs, combined with a favorable business mix, allowed the company to maintain higher margins despite modest revenue growth. The 27.5% adjusted EBITDA margin reflects the company’s ability to scale efficiently while controlling costs.
Adjusted EPS of $0.53 beat analyst expectations, a result of stronger-than‑expected revenue, improved operating leverage, and lower cost inflation. Compared with Q4 2024 adjusted EPS of $0.49, the current quarter’s earnings represent a significant improvement, underscoring the company’s execution strength.
For 2026, management guided to mid‑single‑digit constant‑currency organic revenue growth and an adjusted EBITDA margin of 26.5% to 27.0%, signaling confidence in continued profitability while acknowledging the need for disciplined cost control.
The company is also advancing a restructuring plan aimed at enhancing operating income by $25 million to $30 million, and it has sold its Employee Health and Safety software business to focus on its core ULTRUST software portfolio. These moves reinforce UL Solutions’ strategic focus on energy transition, digitalization, and specialized testing capacity.
President and CEO Jennifer Scanlon said, “Surpassing $3 billion in annual revenue for the first time is a significant milestone, reflecting our business model’s strength and resilience during an environment of changing global dynamics.” She added, “Our mission of working for a safer world serves essential basic needs of humanity for safer, more secure, and more sustainable products.”
The company raised its quarterly dividend to $0.145 per share, an 11.5% increase from the $0.13 dividend paid in the prior quarter. The dividend will be paid on March 12 2026 to shareholders of record as of March 2 2026.
The results underscore UL Solutions’ continued growth momentum and operational efficiency, marking a pivotal moment as the company surpasses the $3 billion revenue milestone for the first time and positions itself for further expansion in high‑growth sectors.
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