Vertiv Holdings Co Stock Price, News & Analysis

Vertiv Holdings Co (NYSE: VRT) reported a strong first quarter performance, with net sales reaching $1,521 million, marking a 32% year-over-year increase. Organic net sales grew 35%, despite a $40 million$130 million, while adjusted operating profit hit $176 million, exceeding guidance by $41 million. The company raised its full-year 2023 operating profit guidance to $618 million, driven by a 82% increase compared to 2022. Improved operational performance and backlog execution, along with significant customer demand, were highlighted as key contributors. Adjusted free cash flow stood at $25 million, reflecting a $175 million year-over-year increase. Looking ahead, the second quarter guidance estimates net sales between $1,550 million and $1,650 million.

Vertiv (NYSE: VRT) will announce its first quarter 2023 results on April 26, 2023, before the market opens. The press release will provide a link to presentation materials for a comprehensive update. A conference call with management is scheduled for 11 a.m. Eastern Time on the same day to discuss the results. Investors can access the live call and a subsequent replay on the Investor Relations section of Vertiv's website. Vertiv is a global provider of critical digital infrastructure solutions, addressing essential challenges for data centers, communication networks, and industrial facilities. The company operates in over 130 countries.

G2 Venture Partners announced the hiring of Rob Johnson, previously CEO of Vertiv (NYSE: VRT), to enhance its team. Rob has extensive experience, having led Vertiv through significant acquisitions and a public offering. He also worked at Kleiner Perkins and founded Systems Enhancement Corporation, sold to American Power Conversion for $6.1 billion in 2007. Rob's expertise is expected to benefit G2's portfolio companies focused on climate technology. Founding Partner Ben Kortlang highlighted Rob's prior contributions to driving revenue and growth.

Vertiv Holdings Co reported strong fourth quarter 2022 results with sales of $1,655 million, up 17.3% year-over-year. Adjusted operating profit reached $211 million, marking a significant increase. The company also experienced a record backlog of $4.8 billion, supporting its positive outlook for 2023, with projected net sales growth of 15% and adjusted operating profit of $750 million to $800 million. Despite challenges from foreign currency impacts and the COVID-19 outbreak in China, Vertiv remains optimistic about sustained growth driven by operational efficiencies and demand in end markets.

Vertiv (NYSE: VRT), a leader in critical digital infrastructure, announced participation in two investor conferences in February and March 2023. CEO Giordano Albertazzi and CFO David Fallon will engage in a virtual fireside chat at Citi’s Global Industrial Tech and Mobility Conference on February 23, 2023 at 10:30 a.m. ET. They will also present in-person at the J.P. Morgan Industrials Conference in New York City on March 16, 2023 at 1:20 p.m. ET. Live webcasts and recordings will be accessible via investors.vertiv.com.