Filing Flows › UL Solutions (ULS) › Q2 2026 › vs Q1 2026
UL Solutions (ULS) Q2 2026 vs Q1 2026 (quarter over quarter)
UL Solutions's revenue rose $58.0M (+8%) from $758M in Q1 2026 to $816M in Q2 2026. The biggest changes: Non-certification Testing and Other Services +$39.0M (+19%); Certification Testing +$26.0M (+12%); Software −$12.0M (-16%). Operating margin 18.4% against 18.2% (+0.2 pts).
UL Solutions, Q2 2026: revenue $816M (+5% year over year), operating margin 18.4%, net earnings $246M, operating cash flow $160M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 18.4% | 18.2% | +0.2 pts |
| Net margin | 30.1% | 12.1% | +18.0 pts |
| Free cash flow margin | 11.2% | 19.8% | -8.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Ongoing Certification Services | $270M | $265M | $5.0M | +2% |
| Non-certification Testing and Other Services | $248M | $209M | $39.0M | +19% |
| Certification Testing | $237M | $211M | $26.0M | +12% |
| Software | $61.0M | $73.0M | −$12.0M | -16% |
| Revenue | $816M | $758M | $58.0M | +8% |
| Other income, net | $188M | −$9.0M | $197M | — |
| Operating profit | $150M | $138M | $12.0M | +9% |
| Costs & expenses | $666M | $620M | $46.0M | +7% |
| Pre-tax earnings | $338M | $129M | $209M | +162% |
| Cost of revenue | $399M | $377M | $22.0M | +6% |
| SG&A | $267M | $243M | $24.0M | +10% |
| Net earnings | $246M | $92.0M | $154M | +167% |
| Minority interests | $8.0M | $5.0M | $3.0M | +60% |
| Income tax | $84.0M | $32.0M | $52.0M | +162% |
| Depreciation & amortization | $46.0M | $47.0M | −$1.0M | -2% |
| Share-based compensation | $23.0M | $12.0M | $11.0M | +92% |
| Working capital & other | $155M | −$68.0M | $223M | — |
| Operating cash flow | $160M | $219M | −$59.0M | -27% |
| Free cash flow (OCF − capex) | $91.0M | $150M | −$59.0M | -39% |
| Capital expenditures | $69.0M | $69.0M | $0 | 0% |
Questions
How much did UL Solutions's revenue grow quarter over quarter in Q2 2026?
UL Solutions's revenue rose $58.0M (+8%) from $758M in Q1 2026 to $816M in Q2 2026.
What drove UL Solutions's revenue change in Q2 2026?
Non-certification Testing and Other Services +$39.0M (+19%); Certification Testing +$26.0M (+12%); Software −$12.0M (-16%).