Vertiv Holdings Co - VRT STOCK NEWS

Vertiv Holdings Co reported second quarter net sales of $1,734 million, a 24% increase compared to last year. They also raised their 2023 net sales guidance to $6,810 million, an increase of $285 million. The company's operating profit and adjusted operating profit also saw significant improvements compared to the previous year. The CEO expressed optimism about the growth potential in the industry, particularly in data center infrastructure driven by AI. The company's strong financial performance and improved cash flow were highlighted as well. Overall, the company's positive results and increased guidance could positively affect its stock price.

Vertiv to report Q2 2023 results on August 2, 2023

Vertiv releases second annual report on environmental, social, and governance efforts, highlighting initiatives across key areas. Efforts include expanding product portfolio, launching diversity training, centralizing employee wellness programs, driving positive change in communities, reducing environmental impacts, and commitment to supply chain integrity.

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.