Tom Ross's questions to UL Solutions Inc (ULS) leadership • Q4 2024
Question
Tom Ross, on behalf of Andy Nicholas from William Blair, asked about the long-term margin potential beyond the 2025 target of approximately 24%. He also requested a breakdown of certification and electrification testing growth between price and volume.
Answer
CFO Ryan Robinson confirmed the company is pleased to be approaching its long-term margin target of over 24% in its second year as a public company and sees further opportunities for expansion. He also noted that the roughly 8% growth in certification and electrification testing revenue in Q4 was driven by a "pretty even mix between price and volume."