Vertiv Holdings Q2 Profit Up, Above Estimates; Guides Q3, Full-year Profit Above View - Update

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For the third quarter, Vertiv Holdings Co (VRT) has initiated earnings guidance above analysts' estimates, and also revised up its annual profit expectations, better than view.

For the third-quarter, the firm expects adjusted earnings per share of $0.65 to $0.69, above analysts' estimate of $0.63 per share. Sales are projected to be in the range of $1.935 billion to $1.985 billion, in line with analysts' estimate of $1.97 billion.

For the full year, adjusted EPS is now expected to be in the range of $2.47 to $2.53 against its previous outlook of $2.29 to $2.35 per share. Vertiv now projects annual sales of $7.590 billion to $7.740 billion, higher than the previous guidance of $7.540 billion to $7.690 billion.

Analysts, on average, expect the firm to post EPS of $2.39, on revenue of $7.69 billion, for the year.

Q2 Earnings

Vertiv revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $178.1 million, or $0.46 per share. This compares with $83.2 million, or $0.22 per share, in last year's second quarter.

Excluding items, Vertiv Holdings Co reported adjusted earnings of $258.4 million or $0.67 per share for the period.

Analysts on average had expected the company to earn $0.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.6% to $1.952 billion from $1.734 billion last year.

Vertiv Holdings Co earnings at a glance (GAAP) :

-Earnings (Q2): $178.1 Mln. vs. $83.2 Mln. last year. -EPS (Q2): $0.46 vs. $0.22 last year. -Revenue (Q2): $1.952 Bln vs. $1.734 Bln last year.