Safety certification company UL Solutions (NYSE: ULS) will be announcing earnings results this Tuesday morning. Here’s what investors should know.
UL Solutions met analysts’ revenue expectations last quarter, reporting revenues of $816 million, up 5.2% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is UL Solutions a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting UL Solutions’s revenue to grow 4.1% year on year, slowing from the 7.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. UL Solutions has a history of exceeding Wall Street’s expectations.
Looking at UL Solutions’s peers in the professional services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Booz Allen Hamilton’s revenues decreased 3.9% year on year, missing analysts’ expectations by 1.1%, and Kforce reported revenues up 7.5%, topping estimates by 0.9%. Booz Allen Hamilton traded up 6.1% following the results while Kforce was down 2.7%.
Read our full analysis of Booz Allen Hamilton’s results here and Kforce’s results here.
Investors in the professional services segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. UL Solutions is up 9.6% during the same time and is heading into earnings with an average analyst price target of $96.57 (compared to the current share price of $74.80).
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