Vertiv Holdings Co - VRT STOCK NEWS

Vertiv Holdings Co (NYSE: VRT) will present at the Goldman Sachs Industrials and Materials Conference on May 11 at 1 p.m. Eastern Time. Key executives, including CEO Rob Johnson, CFO David Fallon, and Chief Strategy and Development Officer Gary Niederpruem, will represent the company. A live webcast can be accessed via Vertiv's Investor Relations website, with a recording available for 30 days post-event. Vertiv is a leader in critical digital infrastructure, providing solutions for data centers and communication networks globally.

Vertiv Holdings Co (NYSE: VRT) reported a first quarter 2022 net sales of $1,156 million, reflecting a 5.3% increase from last year. Orders surged 34%, and the backlog hit a record $4.1 billion. However, the company faced an operating loss of $45 million due to inflation and supply chain challenges, leading to an adjusted operating profit of $13 million. Strong pricing actions yielded $40 million in benefits, exceeding forecasts. Despite ongoing inflation concerns, Vertiv anticipates improved second half performance and positive free cash flow for the year.

Vertiv Holdings Co (NYSE: VRT) will report its first quarter 2022 results before market opening on April 27, 2022. The results will be available on the company’s investor relations website, along with a presentation update. A conference call will follow at 11 a.m. Eastern Time to discuss the results, accessible via webcast. Vertiv enhances critical digital infrastructure with hardware, software, and services, serving data centers and industrial facilities globally. The company is headquartered in Columbus, Ohio, employing approximately 24,000 people.

Vertiv Holdings Co has appointed Giordano Albertazzi as President of the Americas, transitioning from his role as President of EMEA, which will now be led by Karsten Winther. Albertazzi has been with Vertiv for 24 years, achieving over 18% organic sales growth and significantly improving profit margins in EMEA. This leadership change aims to enhance the company’s performance in the region, following the departure of former President John Hewitt. The company also made recent appointments in Greater China and North Asia.

Elea Digital has partnered with Vertiv to enhance edge data center services in Brazil. This collaboration will provide operation and maintenance services across six data centers in key cities including Porto Alegre, Curitiba, and Brasília. The partnership aims to address workforce challenges in Brazil's data center industry, offering accountability and real-time management through advanced software applications. With this initiative, Elea Digital hopes to accelerate the standardization of its data center platform while ensuring secure services for its colocation clients.

Vertiv Holdings Co (NYSE: VRT) reported a strong fourth quarter 2021, with net sales of $1.411 billion, reflecting an 8% increase year-over-year. Orders surged 51% to a record backlog of $3.2 billion. However, the company faced challenges, noting a net operating loss of $4 million, primarily due to inflation and supply chain disruptions. Full-year guidance for 2022 anticipates net sales of $5.7 billion and adjusted diluted EPS of $0.70. Vertiv emphasizes improved profitability in the second half of 2022 driven by aggressive pricing actions, despite a challenging first half.

Vertiv Holdings Co (NYSE: VRT) will announce its Q4 and full year 2021 results on February 23, 2022, before the market opens. A conference call to discuss these results will take place on the same day at 11 a.m. ET. Interested investors can access a webcast of the call through the Investor Relations section of Vertiv’s website, with a replay available for 30 days post-event. Vertiv, based in Columbus, Ohio, offers critical digital infrastructure solutions globally, employing around 21,000 people.

Vertiv Holdings Co (NYSE: VRT) has amended its Tax Receivable Agreement (TRA) with VPE Holdings, LLC, allowing for the payment of $100 million to extinguish outstanding obligations. The payments are split into two installments due by June 15 and September 15, 2022. This amendment is expected to result in a positive pre-tax earnings impact of approximately $60 million in Q4 2021, although it won't affect adjusted earnings per share. Vertiv's CFO noted that this move enhances cash flow and eliminates long-term liability uncertainty.

Vertiv (NYSE: VRT) has declared its annual cash dividend of $0.01 per share for Class A common stock. This dividend will be payable on December 16, 2021, to shareholders of record as of December 1, 2021. Vertiv is a global provider of critical digital infrastructure and continuity solutions, operating in over 130 countries with approximately 21,000 employees. The company specializes in power, cooling, and IT infrastructure solutions to support data centers and communication networks, ensuring optimal performance and reliability.