UL Solutions Inc.(ULS) - 2024 Q4 - Annual Results

Revenue Growth - Fourth Quarter 2024 revenue reached $739 million, an increase of 8.0% compared to$ 684 million in Q4 2023, with organic growth of 9.5% across all segments[4] - For the full year 2024, total revenue was $2.9 billion, reflecting a 7.2% increase, with organic growth of 8.7%[7] - Revenue for Q4 2024 was$ 739 million, a 8.1% increase from $684 million in Q4 2023[29] - The company reported a total revenue growth of 7.2% for the year ended December 31, 2024, compared to the previous year[34] - Revenue for Q4 2024 reached$ 739 million, a 8.1% increase from $684 million in Q4 2023, with total revenue for 2024 at$ 2,870 million, up from $2,678 million in 2023[43] Net Income and Margins - Net income for Q4 2024 was$ 85 million, a 37.1% increase from $62 million in Q4 2023, resulting in a net income margin of 11.5%, up 240 basis points[5] - Net income attributable to stockholders rose to$ 81 million in Q4 2024, compared to $58 million in Q4 2023, marking a 39.7% increase[29] - Net income for Q4 2024 was$ 85 million, up 37.1% from $62 million in Q4 2023, with a full-year net income of$ 345 million compared to $276 million in 2023[43] - The net income margin improved to 11.5% in Q4 2024 from 9.1% in Q4 2023, while the adjusted net income margin increased to 13.8% from 9.1% in the same period[49] Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was$ 169 million, a 27.1% increase from $133 million in Q4 2023, with an adjusted EBITDA margin of 22.9%, expanding 350 basis points[8] - Adjusted EBITDA for the year ended December 31, 2024, was not specified but is a key non-GAAP measure used by management to assess performance[38] - Adjusted EBITDA for Q4 2024 was$ 169 million, representing a 27.1% increase from $133 million in Q4 2023, with a full-year adjusted EBITDA of$ 656 million compared to $563 million in 2023[43] Segment Performance - The Industrial segment reported revenue of$ 328 million, an 11.6% increase, with an adjusted EBITDA margin of 32.0%, up from 26.9% in Q4 2023[9] - The Consumer segment achieved revenue of $309 million, a 5.5% increase, with an adjusted EBITDA margin of 14.6%, up from 12.3% in Q4 2023[10] - The Industrial segment reported revenue of$ 328 million in Q4 2024, up from $294 million in Q4 2023, with an adjusted EBITDA margin of 32.0% compared to 26.9% in the prior year[47] - The Consumer segment's revenue increased to$ 309 million in Q4 2024 from $293 million in Q4 2023, with an adjusted EBITDA margin of 14.6%, up from 12.3%[47] - The Software and Advisory segment generated revenue of$ 102 million in Q4 2024, compared to $97 million in Q4 2023, maintaining an adjusted EBITDA margin of 18.6%[47] Cash Flow and Operating Activities - The company generated$ 524 million in net cash from operating activities for the year, up from $467 million in 2023[12] - Free Cash Flow for 2024 was$ 287 million, compared to $252 million in 2023[13] - Free cash flow for the year ended December 31, 2024, was$ 524 million, up from $467 million in 2023[31] - Free Cash Flow for 2024 was$ 287 million, an increase from $252 million in 2023, with a Free Cash Flow margin of 10.0% compared to 9.4% in 2023[57] Future Outlook - The company expects mid-single digit constant currency organic revenue growth for 2025[16] - Capital expenditures are projected to be 7% to 8% of revenue, with continued focus on acquisitions and portfolio refinements[23] Assets and Equity - Total assets increased to$ 2.8 billion as of December 31, 2024, compared to $2.736 billion at the end of 2023[30] - The total stockholders' equity increased to$ 931 million as of December 31, 2024, from $678 million at the end of 2023[30] Earnings Per Share - The company reported a diluted earnings per share of$ 0.40 for Q4 2024, up from $0.29 in Q4 2023, with adjusted diluted earnings per share rising to$ 0.49 from $0.29[54] Interest Expense - Interest expense increased to$ 13 million in Q4 2024 from $12 million in Q4 2023, while total interest expense for the year was$ 55 million, up from $35 million in 2023[43]