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) announced it will release its first quarter 2021 results before market open on April 28, 2021. The management team will hold a conference call on the same day at 11 a.m. Eastern Time to discuss the results. Investors can access a live webcast of the call via the Investor Relations section of Vertiv's website, with a replay available for 30 days afterward. Vertiv specializes in providing infrastructure solutions for data centers, communication networks, and industrial facilities, employing about 20,000 people across more than 130 countries.
Vertiv Holdings Co (NYSE: VRT) has successfully completed the repricing of its subsidiary Vertiv Group Corporation's seven-year $2.2 billion Term Loan. This action reduces the loan's interest rate by 25 basis points to LIBOR + 275 basis points, yielding annual interest savings of approximately $5.5 million. This strategic financial move enhances the company's financial position, allowing for greater resource allocation in its critical digital infrastructure solutions, aimed at optimizing data centers and communication networks globally.
Vertiv Holdings Co (NYSE: VRT) reported strong fourth quarter and full year 2020 results, with net sales of $1,306 million, an 11.4% year-over-year increase. Key growth was seen in EMEA with a 24.6% rise, driven by colocation and cloud data center projects. The company’s net income for Q4 reached $75 million, up significantly due to lower interest expenses and higher gross profit. Backlog rose to $1.85 billion, a 32% increase from 2019. For 2021, Vertiv forecasts net sales between $4,750 million and $4,800 million, with an organic growth rate of 6.5% to 7.5%. Adjusted EPS is projected at $1.01 to $1.06.
Verra Mobility (NASDAQ: VRRM) announced the appointment of Steven C. Lalla as Executive Vice President of Commercial Services, effective immediately. Lalla brings extensive experience from his previous role as EVP at Vertiv and positions at Dell and Motorola. His leadership is expected to enhance Verra Mobility's capabilities in providing outsourced tolling, violations management, and registration services for commercial fleets. CEO David Roberts expressed confidence in Lalla's ability to drive innovation and strengthen customer solutions.
Vertiv Holdings Co (NYSE: VRT) announced the appointment of Stephen Liang as the new Chief Technology Officer (CTO), aimed at enhancing innovation and aligning technology strategies with market needs. Liang, who joined Vertiv in 1994, will lead a planned increase in R&D to support long-term growth. Additionally, Robert Zhu and Anand Sanghi have been appointed as regional presidents, focusing on customer intimacy and growth in North Asia and Australia, respectively. These moves are part of a broader strategy to strengthen leadership and drive performance.
Vertiv Holdings Co (NYSE: VRT) will report its Q4 and full year 2020 financial results on February 24, 2021, before market open. The management team will host a conference call at 11 a.m. ET to discuss the results. Investors can access a live webcast of the call on Vertiv’s investor relations website, with a replay available for 30 days post-event.
Vertiv offers critical digital infrastructure solutions, focusing on power, cooling, and IT services, and operates in over 130 countries.
Vertiv (NYSE: VRT) has appointed Erin Dowd as the new Chief Human Resources Officer, effective immediately. Dowd, who has been serving as the interim CHRO since December, will report to CEO Rob Johnson and oversee the execution of human resources strategies in alignment with the company’s objectives, including a global hiring initiative for Research and Development Engineers. With extensive HR experience in both military and corporate sectors, Dowd aims to enhance employee performance and engagement within Vertiv’s workforce.
Vertiv Holdings Co (NYSE: VRT) has appointed Stephanie Gill as the new Chief Legal Counsel and Corporate Secretary, effective January 4, 2021. Reporting to CEO Rob Johnson, she will lead the company's legal strategies and compliance functions. Gill brings extensive experience in corporate governance, securities law, and M&A, having previously served as General Counsel at a publicly traded company. Her expertise aims to enhance Vertiv's growth in the public sector and manage legal risks effectively.
Vertiv Holdings Co (NYSE: VRT) has announced the pricing of an underwritten secondary public offering of 18 million shares of its Class A common stock by VPE Holdings, LLC. The offering is expected to settle around November 17, 2020, and Vertiv will not receive any proceeds. Post-offering, the Selling Stockholder will maintain a 24% economic interest in Vertiv, holding at least 77 million shares. J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are serving as joint book-running managers of the offering.
Vertiv Holdings Co (NYSE: VRT) has announced an underwritten secondary public offering of up to 18 million shares of Class A common stock by VPE Holdings, LLC. Post-offering, VPE will remain Vertiv's largest stockholder with at least 77 million shares owned, constituting around 24% of Vertiv. Importantly, Vertiv is not selling any shares and will not gain any proceeds from this offering. J.P. Morgan and Goldman Sachs are the underwriters. The registration statement for the offering is pending effectiveness with the SEC.