Vertiv Q3 Net Income Rises - Quick Facts

(RTTNews) - Vertiv Holdings Co (VRT) reported third-quarter net income of $94.1 million compared to $21.2 million, last year. Earnings per share increased to $0.24 from $0.06. Adjusted operating margin was 17.0%, up 790 basis points. Adjusted earnings per share was $0.52 compared to $0.23. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.44, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales were $1.74 billion, an increase of 18% from prior year, and a 17% organic net sales increase. Orders increased 11% excluding foreign exchange. Analysts on average had estimated $1.75 billion in revenue.

The company expects fourth quarter net sales in a range of $1.83 billion to $1.85 billion, organic net sales growth in a range of 10.7% - 12.2%; and adjusted EPS in a range of $0.48 - $0.52.

For 2023, the company expects net sales in a range of $6.83 billion - $6.85 billion; organic net sales growth in a range of 20.9% - 21.4%; and adjusted EPS in a range of $1.69 - $1.73.

Shares of Vertiv are up 7% in pre-market trade on Wednesday.

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