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 strong third-quarter results for 2020, achieving net sales of $1,162 million, an 8.5% increase year-over-year. The growth was fueled by a solid performance in the cloud and colocation markets, especially in the EMEA and APAC regions. The backlog reached a record $1.85 billion. Adjusted EBITDA improved by 31% to $179 million. However, the company reported a net loss of $2 million, largely due to restructuring costs and foreign currency losses. Fourth-quarter guidance projects net sales between $1,240 million and $1,265 million, with continued optimism for customer demand.
Vertiv (NYSE: VRT) has declared its first-ever annual cash dividend of $0.01 per share of Class A common stock. The dividend is set to be paid on December 17, 2020, to shareholders of record as of December 2, 2020. This announcement marks a significant milestone for the company, indicating its commitment to returning value to shareholders while highlighting its strategic growth in the critical digital infrastructure sector.
Vertiv Holdings Co (NYSE: VRT) will announce its third quarter 2020 results before market open on November 4, 2020. A conference call to discuss these results will take place at 11 a.m. ET on the same day. Investors can listen to a live webcast of the call in the Investor Relations section of Vertiv's website. A replay will be accessible for 30 days post-event. Vertiv specializes in critical digital infrastructure solutions, focusing on power, cooling, and IT infrastructure services for data centers and communication networks, employing about 20,000 people globally.