Vertiv Holdings Co reports developments in critical digital infrastructure for data centers, communication networks, and commercial and industrial facilities. Its recurring news covers power, cooling, IT infrastructure, software, analytics, and services that support continuous operation from cloud environments to the edge of the network.
Company updates commonly address demand tied to AI and high-density computing, liquid-cooling and chilled-water thermal management, battery energy storage and grid-interactive data center infrastructure, manufacturing capacity, and completed acquisitions such as Strategic Thermal Labs and BMarko Structures. Vertiv also reports earnings, guidance, dividends, supply chain and procurement leadership, and customer or technology collaborations across its global operations.
Vertiv Holdings Co (NYSE: VRT) reported a strong third quarter with net sales of $1,481 million, a 20.5% increase year-over-year. Organic sales growth stood at 20.1%, despite a $86 million negative impact from foreign currency. The company reaffirmed its fourth quarter operating profit guidance of $170 million to $190 million and 2023 guidance of $530 million to $550 million. Backlog increased by 46% to $4.7 billion, indicating robust market demand. However, operating profit decreased slightly to $80 million due to inflation and higher fixed costs.
Vertiv Holdings Co (NYSE: VRT) is set to report its third quarter 2022 results on October 26, 2022, before the market opens. Investors can access the presentation materials on the company's website. A conference call is scheduled for the same day at 11 a.m. Eastern Time, allowing management to discuss the results. Vertiv provides essential digital infrastructure solutions, serving over 130 countries, and employs around 24,000 people globally.
Vertiv has appointed Giordano Albertazzi as the new COO and will succeed Rob Johnson as CEO on January 1, 2023. The company reaffirms its third quarter 2022 guidance at the lower end due to foreign exchange impacts. Additionally, Vertiv revised its fourth quarter adjusted operating profit guidance to $220 million - $240 million and updated its 2023 outlook for adjusted operating profit to $730 million - $750 million. The firm also appointed Joseph DeAngelo to its Board of Directors.
Vertiv Holdings Co (NYSE: VRT) announced its participation in the Evercore ISI 2nd Annual Technology Conference in New York City on September 8, 2022, at 12:45 p.m. Eastern time. CFO David Fallon and Chief Strategy and Development Officer Gary Niederpruem will engage in a fireside chat at the event. A live webcast will be available in the Investor Relations section of their website, with a recording accessible for 30 days post-event. Vertiv is a global provider of digital infrastructure solutions, headquartered in Columbus, Ohio, with around 24,000 employees across more than 130 countries.
Vertiv (NYSE: VRT) announced the appointment of Jakki Haussler to its Board of Directors, expanding the board to ten members. Haussler, co-founder and former CEO of Opus Capital Management, brings extensive financial expertise. She will also serve on the Audit Committee. Her background includes leadership roles at several investment firms and experience on various boards, enhancing Vertiv's governance and oversight. Executive Chairman, David Cote, emphasized her valuable perspectives in the company's strategy for growth in critical digital infrastructure.
Vertiv Holdings reported strong demand in Q2 2022 with net sales of $1,399 million, an 11.0% increase YoY, primarily driven by price realization. Orders rose by 17%, while backlog reached a record $4.4 billion. Despite the growth, the company lowered its full-year adjusted operating profit guidance to $475-$500 million due to foreign currency impacts and material inflation. Nevertheless, management anticipates a strong 2023, supported by improved supply chains and continued demand for products across various regions, including a recovery in China.
Vertiv Holdings Co (NYSE: VRT) will release its second quarter 2022 results before market open on August 3, 2022. The press release will include a link to presentation materials for detailed updates.
Management will discuss these results during a conference call on the same day at 11 a.m. Eastern Time, accessible via the Investor Relations section of Vertiv's website. The company focuses on critical digital infrastructure solutions, serving clients in over 130 countries.
Vertiv (NYSE: VRT) has released its inaugural ESG report, detailing efforts in energy and water efficiency, diversity, equity and inclusion, and employee safety. The report serves as a foundation for future ESG initiatives. Key highlights include a 12% reduction in recordable injuries, new high-efficiency products, and partnerships aimed at improving data center efficiency. The ESG Executive Steering Committee is actively assessing and guiding these efforts. CEO Rob Johnson emphasizes the balance between meeting data demands and addressing climate change impacts.
Vertiv Holdings Co (NYSE: VRT) has announced its participation in upcoming investor conferences scheduled for May and June 2022. On May 25, CFO David Fallon and Chief Strategy Officer Gary Niederpruem will present at the Wolfe Research Global Transportation & Industrials Conference at 10:20 a.m. Eastern Time. On June 2, CEO Rob Johnson, along with Fallon and Niederpruem, will present at the Cowen Technology, Media & Telecom Conference at 2:45 p.m. Eastern Time. Webcasts and presentation materials will be available on Vertiv's Investor Relations website.
Vertiv Holdings Co (NYSE: VRT) will present at the Goldman Sachs Industrials and Materials Conference on May 11 at 1 p.m. Eastern Time. Key executives, including CEO Rob Johnson, CFO David Fallon, and Chief Strategy and Development Officer Gary Niederpruem, will represent the company. A live webcast can be accessed via Vertiv's Investor Relations website, with a recording available for 30 days post-event. Vertiv is a leader in critical digital infrastructure, providing solutions for data centers and communication networks globally.