UL Solutions sees FY24 organic revenue growth in mid-single digits

Sees FY24 adjusted EBITDA margin improvement. Sees FY24 capital expenditures 7%-8% of revenue. Chief Financial Officer Ryan Robinson added, “Technology advancements and market trends such as energy transition and connected technologies are driving change across the end markets we serve, as we achieved organic revenue growth of 7.5%, Adjusted EBITDA of $131 million and Adjusted Diluted Earnings Per Share of $0.28 in the first quarter. Our strong balance sheet is supported by robust cash generation, as demonstrated by net cash provided by operating activities of $141 million and Free Cash Flow of $84 million for the first three months of the year, positioning us to execute disciplined capital allocation and deliver accretive growth to build long-term value for all of our stakeholders.”