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UL Solutions (ULS) Q1 FY2023 earnings: revenue $629 million

UL Solutions Inc. (ULS) reported revenue of $629 million for Q1 FY2023, the quarter ended 31 March 2023. Net income was $55 million, and diluted earnings per share $0.28. The figures are the company's own, from the 10-Q it filed with the SEC on 20 May 2024.

Revenue
$629 million
Q1 FY2023Q1 FY2023
Operating margin
11.9%
Q1 FY2023Q1 FY2023
Net income
$55 million
Q1 FY2023Q1 FY2023
Diluted EPS
$0.28
Q1 FY2023Q1 FY2023

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ1 FY2023Quarter beforeA year earlierOn the quarterOn the yearLast 8 quarters
Revenue629n/an/a
Cost of revenue335n/an/a
Gross profit294n/an/a
Gross margin46.7%n/an/a
Selling, general and administrative219n/an/a
Operating income75.0n/an/a
Operating margin11.9%n/an/a
Interest expense8.0n/an/a
Pre-tax income72.0n/an/a
Income tax14.0n/an/a
Effective tax rate19.4%n/an/a
Net income55.0n/an/a
Net margin8.7%n/an/a
Diluted EPS$0.28n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ1 FY2023Quarter beforeA year earlierOn the quarterOn the yearLast 8 quarters
Operating cash flow161n/an/a
Capital expenditure63.0n/an/a
Free cash flow98.0n/an/a
Free cash flow margin15.6%n/an/a
Cash from investing-75.0n/an/a
Cash from financing10.0n/an/a
Depreciation and amortisation36.0n/an/a
Dividends paid20.0n/an/a
Dividend per share$0.10n/an/a
Diluted shares, weighted200mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ1 FY2023Quarter beforeA year earlierOn the quarterOn the yearLast 8 quarters
Shareholders' equity1,122n/an/a
Cash and equivalents418n/an/a

Questions

What was UL Solutions' revenue in Q1 FY2023?

UL Solutions (ULS) reported revenue of $629 million for Q1 FY2023, the quarter ended 31 March 2023.

How much did UL Solutions earn in Q1 FY2023?

Net income for Q1 FY2023 was $55 million, and diluted earnings per share $0.28.

When did UL Solutions report Q1 FY2023 results?

UL Solutions filed its 10-Q for the quarter ended 31 March 2023 with the SEC on 20 May 2024.

Quarterly results, the last 15 quarters

Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025 †Q2 FY2025 †Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue629689676684670730731739705776783789758816823
Cost of revenue335352344367351364373389365394389397377399400
Gross profit294337332317319366358350340382394392381417423
Gross margin47%49%49%46%48%50%49%47%48%49%50%50%50%51%51%
SG&A219220206230228240228235232244238239243267260
Operating income75.011789.087.091.0126130115109139156118138150162
Operating margin12%17%13%13%14%17%18%16%15%18%20%15%18%18%20%
Interest expense8.08.07.012.015.013.014.013.012.010.010.09.08.05.06.0
Pre-tax income72.012075.079.073.013411692.094.0125146105129338160
Tax rate19%18%24%22%18%21%19%8%24%22%27%32%25%25%27%
Net income55.094.053.058.056.010188.081.067.091.010067.092.0246108
Net margin9%14%8%8%8%14%12%11%10%12%13%8%12%30%13%
Diluted EPS$0.28$0.47$0.27$0.28$0.28$0.50$0.44$0.40$0.33$0.45$0.49$0.32$0.45$1.21$0.53
Operating cash flow16159.0121126141103150130154147155144219160215
Capital expenditure63.050.043.059.057.056.066.058.051.042.046.058.069.069.061.0
Free cash flow98.09.078.067.084.047.084.072.010310510986.015091.0154
Dividends paid20.020.020.062025.025.025.025.026.026.026.026.029.029.030.0
Shares outstandingn/an/an/a200m200m200m200m200m200m201m201m201m202m202m202m
Filing10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2023, filed 20 May 2024: the filing.