Vertiv Holdings Co Stock Price, News & Analysis

Giordano Albertazzi took over as CEO of Vertiv on January 1, 2023, aiming for operational excellence and profitable growth. Vertiv, a leader in critical digital infrastructure, reported a strong demand in its markets with a record order backlog of $4.7 billion by Q3 2022. Albertazzi's experience in leading operations in Europe and the Americas will drive performance improvements in a challenging macroeconomic environment. He will continue to serve as President of the Americas until a successor is appointed.

Vertiv (NYSE: VRT) has declared an annual cash dividend of $0.01 per share for its Class A common stock. This dividend will be payable on December 15, 2022, to shareholders on record as of November 30, 2022. The company, based in Columbus, Ohio, provides critical digital infrastructure and services for data centers and communication networks globally, employing approximately 24,000 people across more than 130 countries.

Vertiv Holdings Co (NYSE: VRT) announced its participation in the Deutsche Bank 2022 Industrials Conference. CEO Rob Johnson, incoming CEO Giordano Albertazzi, and CFO David Fallon will join a virtual fireside chat on November 15, 2022, at 3:15 p.m. Eastern time. Investors can access a live webcast and related materials on Vertiv's Investor Relations page, with a recording available for 30 days post-event. Vertiv delivers critical digital infrastructure solutions to data centers and commercial facilities, operating in over 130 countries with approximately 24,000 employees.

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.