UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission file number 001-42012 UL Solutions Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Exhibit 99.1 UL Solutions Inc. Reports Strong Second Quarter 2024 Results 1 Second Quarter 2024 (Comparisons to Second Quarter 2023 unless otherwise noted) • Strong revenue growth of 6.0% to $730 million, including 8.4% organic growth • Net income of $106 million or, $0.50 per diluted share • Adjusted Net Income of $94 million increased 5.6% • Adjusted EBITDA of $173 million increased 11.6%, Adjusted EBITDA margin of 23.7% expanded 120 basis points • Net cash provided by operating activities of $244 million ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission file number 001-42012 UL Solutions Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...

Revenue Growth - Revenue increased by 6.5% to $670 million in Q1 2024, with organic growth of 7.5%[1] - Revenue for Q1 2024 increased to $670 million, up from $629 million in Q1 2023, representing a 6.5% growth[24] - Organic revenue growth for Q1 2024 was 7.5%, driven by a $47 million increase in organic revenue[28] - The company expects mid-single-digit organic revenue growth for 2024, driven by electrification, digitalization, and sustainability trends[14] Net Income and Profitability - Net income rose to $60 million, or $0.28 per diluted share, a 3.4% increase from Q1 2023[3] - Net income for Q1 2024 was $60 million, compared to $58 million in Q1 2023, with a net income margin of 9.0%[24] - Net income for the company increased to $60 million in 2024 from $58 million in 2023, with a net income margin of 9.0% compared to 9.2% in 2023[40] - Adjusted Net Income rose to $61 million in 2024 from $54 million in 2023, with an Adjusted Net Income margin of 9.1% compared to 8.6% in 2023[40] - Diluted earnings per share remained flat at $0.28 in both 2024 and 2023, while Adjusted Diluted Earnings Per Share increased to $0.28 in 2024 from $0.26 in 2023[42] Adjusted EBITDA - Adjusted EBITDA grew by 18.0% to $131 million, with a margin expansion of 200 basis points to 19.6%[5] - Adjusted EBITDA for Q1 2024 was $131 million, up from $111 million in Q1 2023, with an Adjusted EBITDA margin of 19.6%[36] - Adjusted EBITDA for the Industrial segment increased to $86 million in 2024 from $80 million in 2023, with an Adjusted EBITDA margin of 29.2% compared to 29.6% in 2023[38] - Adjusted EBITDA for the Consumer segment grew to $35 million in 2024 from $21 million in 2023, with an Adjusted EBITDA margin of 12.2% compared to 7.6% in 2023[38] Segment Performance - Industrial segment revenue increased by 9.3% to $295 million, driven by strong demand for electrical and renewable energy testing[6] - Consumer segment revenue grew by 4.0% to $286 million, with Adjusted EBITDA surging 66.7% to $35 million[8] - Software and Advisory segment revenue increased by 6.0% to $89 million, with Adjusted EBITDA remaining flat at $10 million[9] - Certification Testing revenue grew to $176 million in Q1 2024, up from $161 million in Q1 2023, a 9.3% increase[27] - Ongoing Certification Services revenue increased to $233 million in Q1 2024, compared to $219 million in Q1 2023, a 6.4% growth[27] - Industrial segment operating income increased to $75 million in 2024 from $72 million in 2023, with an operating income margin of 25.4% compared to 26.7% in 2023[38] - Consumer segment operating income rose significantly to $17 million in 2024 from $3 million in 2023, with an operating income margin of 5.9% compared to 1.1% in 2023[38] - Software and Advisory segment reported an operating loss of $1 million in 2024, compared to breakeven in 2023, with an operating loss margin of 1.1%[38] Cash Flow and Liquidity - Net cash provided by operating activities was $141 million, with Free Cash Flow of $84 million for Q1 2024[10] - Free Cash Flow is used as a liquidity measure, reflecting cash generated from core operations available for debt repayment, investments, and returning cash to stockholders[32] - Free Cash Flow decreased to $84 million in 2024 from $98 million in 2023, primarily due to higher capital expenditures of $57 million compared to $63 million in 2023[43] - Cash and cash equivalents at the end of Q1 2024 were $344 million, up from $315 million at the end of Q4 2023[26] Debt and Capital Expenditures - Total debt decreased to $885 million as of March 31, 2024, with cash and cash-equivalents at $344 million[12] - Capital expenditures for 2024 are expected to remain at 7-8% of revenue, with continued pursuit of tuck-in acquisition opportunities[14] Total Assets - Total assets increased to $2.819 billion in Q1 2024, up from $2.736 billion at the end of Q4 2023[25]