Vertiv Holdings Co - VRT STOCK NEWS

Vertiv has announced a definitive agreement to acquire E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf LLC, for approximately $1.8 billion, with a potential additional $200 million based on 2022 profit milestones. This strategic acquisition aims to enhance Vertiv's data center offerings, expanding its addressable market by $7 billion. Despite robust order growth and a record backlog, supply chain disruptions have led to revised financial guidance. The transaction is expected to close in Q4 2021 and is anticipated to be accretive to Vertiv's growth and profitability.

Vertiv Holdings Co (NYSE: VRT) reported strong Q2 2021 results, with net sales reaching $1,260 million, a 25.3% increase year-over-year. EMEA sales surged 50.1%, APAC rose 23.3%, and Americas grew 16.5%. Orders grew 24.4%, pushing backlog to a record $2.3 billion. Adjusted operating profit was $134 million, up $31 million, while diluted EPS increased to $0.03. The company raised its full-year sales guidance to 14% growth at midpoint, despite facing material inflation and supply chain challenges.

Vertiv Holdings Co (NYSE: VRT) will announce its second quarter 2021 financial results on July 28, 2021, before market opens. A conference call is scheduled for the same day at 11 a.m. Eastern Time, where management will discuss the results. Investors can access the live webcast through the Investor Relations section of Vertiv's website, which will also host a replay for 30 days post-event.

Vertiv specializes in providing critical digital infrastructure and continuity solutions to enhance data center and network performance globally.

Vertiv Holdings Co (NYSE: VRT) reported strong first quarter 2021 results, with net sales of $1,098 million, a 22.4% increase year-over-year. Global demand in the cloud and colocation data center markets drove this growth, particularly in the APAC region, which saw a 59.6% rise. Net income reached $32 million, showing a significant improvement due to lower interest expenses and higher sales. Backlog increased to a record $2.1 billion. Vertiv raised its full-year adjusted operating profit guidance to $595 million, reflecting positive market trends despite anticipated challenges from commodity and freight costs.

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.