UL Solutions raised its 2026 constant-currency organic revenue growth outlook to about 6.5% after third-quarter organic revenue growth reached 7%, while keeping its adjusted EBITDA margin outlook near 27%. The update lifts the company's revenue outlook while leaving its margin target unchanged.
Quarterly revenue reached $823 million, 5.1% above the $783 million recorded in the year-earlier period. Organic gains were strongest in Industrial and Consumer. Adjusted EBITDA increased 8.3% to $235 million, with its margin at 28.6% versus 27.7% a year earlier. UL Solutions classifies adjusted EBITDA and its margin as non-GAAP measures.
Under the revised outlook, business exits associated with restructuring are expected to lower revenue by about 70 basis points. At its Aug. 4 second-quarter update, UL Solutions had described its full-year organic growth outlook as mid-single digits and said the exits could lower revenue by about 1%. The revised drag estimate is below that earlier figure.
For 2026, UL Solutions expects underlying factors to add about 200 basis points to adjusted EBITDA margin; added transaction costs versus 2025 are expected to absorb roughly 90 basis points of that improvement. The company's margin projection was already near 27% before the third-quarter results. UL Solutions has not issued a forward net income margin forecast or reconciled adjusted EBITDA margin to it, citing unreliable estimates for certain components.
UL Solutions Chief Financial Officer Ryan Robinson said its results so far this year and demand in major markets underpinned the higher growth outlook. Its testing, inspection and certification work, along with advisory and software services, reaches customers in more than 110 countries.
UL Solutions said geopolitical and macroeconomic uncertainty could affect customer demand. The company said it could not estimate the impact if customers reduce or defer testing or product-development work.
