Vertiv Holdings Q4 Profit Up, Beats Estimates; Sees Q1 Earnings Below View, Sales In Line - Update

(RTTNews) - (Adds Outlook)

Vertiv Holdings Co (VRT) released earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $232.6 million, or $0.60 per share. This compares with $26.6 million, or $0.07 per share, in last year's fourth quarter.

Excluding items, Vertiv Holdings Co reported adjusted earnings of $217.3 million or $0.56 per share for the period.

Analysts on average had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.8% to $1.865 billion from $1.654 billion last year.

Outlook:

Looking ahead, for the first quarter, Vertiv expects adjusted income per share of $0.32 to $0.36, below the analysts' estimate of $0.37 per share. Sales are projected to be in the range of $1.575 billion to $1.625 billion, in line with analysts' estimate of $1.62 billion.

For the full year, the company expects its earnings and sales in line with the analysts' view.

VRT expects adjusted income per share of $2.20 to $2.26 for the 12-month period, in line with analysts' forecast of $2.24 per share. Annual sales are expected to be in the range of $7.515 billion to $7.655 billion, compared with analysts' estimate of $7.54 billion.

VRT has also raised its annual capital expenditures plan to $175 million to $200 million to support its growth trajectory.

Vertiv Holdings Q4 earnings at a glance (GAAP) :

-Earnings (Q4): $232.6 Mln. vs. $26.6 Mln. last year. -EPS (Q4): $0.60 vs. $0.07 last year. -Analyst Estimate: $0.53 -Revenue (Q4): $1.865 Bln vs. $1.654 Bln last year.