Vertiv Adds 7% On Encouraging Outlook

(RTTNews) - Shares of digital infrastructure and continuity solutions provider Vertiv Holdings Co (VRT) are rising more than 7% Wednesday morning after the company provided encouraging outlook for the first quarter as well as full year.

For the first quarter, Vertiv expects sales to be in the range of $1.35 billion- $1.45 billion and adjusted EPS in the range of $0.14-$0.20.

Analysts on average, polled by Thomson-Reuters expect the company to report earnings of $0.15 per share on revenue of $1.32 billion.

For the full year, sales are expected in the range of $6.45 billion- $6.6 billion and adjusted EPS in the range of $1.17-$1.27. The consensus estimate for earnings stands at $1.11 per share and for revenue stands at $6.06 billion.

In the fourth quarter, profit increased to $26.6 million or $0.07 per share from $22 million or $0.06 per share in the same quarter a year ago.

Excluding one-time items, earnings were $0.28 per share, that missed the analysts' expectation at $0.31 per share.

Vertiv reported fourth-quarter net sales of $1.655 billion, an increase of 17.3% year-over-year. The consensus estimate was for $1.68 billion.

VRT is at $16.40, It has traded in the range of $7.76-$17.86 in the last 1 year.