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UL Solutions (ULS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
UL Solutions (ULS) reported revenue of $816M for the second quarter 2026 (Q2 2026), +5% from a year earlier and +8% from the quarter before. Operating margin was 18.4%, net earnings $246M (30.1% of revenue).
UL Solutions, Q2 2026: revenue $816M (+5% year over year), operating margin 18.4%, net earnings $246M, operating cash flow $160M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $816M | +8% | +5% |
| Operating profit | $150M | +9% | +8% |
| Net earnings | $246M | +167% | +170% |
| Operating cash flow | $160M | -27% | +9% |
| Free cash flow | $91.0M | -39% | -13% |
What changed
Revenue was $816.0M in Q2 2026, up 5% year over year and up 8% from the previous quarter. Ongoing Certification Services was the largest line at 33% of revenue. Certification Testing added $22.0M year over year (up 10%), 55% of the total change. Software declined 13%.
Operating profit was $150.0M, a 18.4% margin (up 0.5 points year over year). Of the extra revenue versus Q2 2025, 28% reached operating profit, above the 18% margin then. Total costs grew 5% against revenue growth of 5%. Net earnings were $246.0M, up 170% year over year. The effective tax rate was 24.9%. Non-operating items added $188.0M, 56% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $160.0M (up 9% year over year), 63% of net income including minority interests. Non-cash charges added back $46.0M of depreciation and amortization and $23.0M of share-based compensation. Working capital and other items used $163.0M. Capital expenditures of $69.0M left free cash flow of $91.0M.
Questions
What was UL Solutions' revenue in the second quarter 2026?
UL Solutions (ULS) reported revenue of $816M for the second quarter 2026 (Q2 2026), +5% from a year earlier and +8% from the quarter before.
Was UL Solutions profitable in the second quarter 2026?
Operating profit was $150M (18.4% of revenue) and net earnings $246M.
Source: UL Solutions 10-Q on SEC EDGAR.