Vertiv Holdings Lifts Annual Outlook - Update

(RTTNews) - Looking ahead, Vertiv Holdings Co (VRT) has initiated second-quarter outlook in line with analysts' estimates, and revised up annual guidance in line with the Street view.

For the second-quarter, the firm expects adjusted earnings per share or EPS of $0.53 to $0.57, in line with analysts' estimate of $0.55 per share. Second-quarter sales are projected to be in the range of $1.900 billion to $1.950 billion, in line with analysts' estimate of $1.9 billion.

For the full year, adjusted EPS is now expected to be in the range of $2.29 to $2.35 against its previous outlook of $2.20 to $2.26 per share. Vertiv expects annual sales of $7.540 billion to $7.690 billion, higher than previous guidance of $7.515 billion to $7.655 billion.

Analysts, on average, expect the firm to post EPS of $2.3, on revenue of $7.63 billion, for the year.

VRT was trading up by 15.20 percent at $91.20 in the pre-market trade on the New York Stock Exchange.

Q1 Results:

Below are the first-quarter earnings highlights for Vertiv Holdings Co (VRT):

Earnings: -$5.9 million in Q1 vs. $50.3 million in the same period last year. EPS: -$0.02 in Q1 vs. $0.12 in the same period last year. Excluding items, Vertiv Holdings Co reported adjusted earnings of $168.8 million or $0.43 per share for the period.

Analysts projected $0.36 per share Revenue: $1.639 billion in Q1 vs. $1.521 billion in the same period last year.