Third Quarter 2026 Results

- Net sales of $4,313 million, 61% higher than third quarter 2025.

- Operating profit up 90% and adjusted operating profit(1) up 83% from third quarter 2025. Adjusted operating margin of 25.2%, up 290 basis points compared to third quarter 2025.

- Diluted EPS grew 91% to $1.95 and adjusted diluted EPS(1) grew 78% to $2.21 compared to third quarter 2025.

- Operating cash flow of $794 million and adjusted free cash flow(1) of $652 million, up 64% and 50%, respectively, compared to third quarter 2025.

Fourth Quarter 2026 Guidance

- Expects fourth quarter 2026 net sales of $4,413 million and organic sales growth of 50%, each at the midpoint of guidance, compared to fourth quarter 2025.

- Expects fourth quarter 2026 diluted EPS of $2.08 and adjusted diluted EPS of $2.25, each at the midpoint of guidance, an increase of 82% and 65%, respectively, compared to fourth quarter 2025.

Full Year 2026 Guidance

- Expects full year 2026 net sales of $14,650 million and organic sales growth of 38%, each at the midpoint of guidance, compared to full year 2025.

- Expects full year 2026 diluted EPS of $6.29 and adjusted diluted EPS of $7.15, each at the midpoint of guidance, an increase of 84% and 70%, respectively, compared to full year 2025.

COLUMBUS, Ohio, Oct. 28, 2026 /PRNewswire/ -- Vertiv Holdings Co (NYSE: VRT) ("Vertiv"), a global leader in critical digital infrastructure, reported financial results for its third quarter ended September 30, 2026. Vertiv reported third quarter net sales of $4,313 million, an increase of $1,637 million, or 61%, compared to third quarter 2025, reflecting 55% organic sales growth and approximately 6% contribution from acquisitions. Growth was broad-based across all regions, with the Americas up 75% (66% organic), APAC up 50% (48% organic), and EMEA up 23% (19% organic). Strong demand visibility, ongoing capacity investments, and disciplined execution give Vertiv the confidence to raise full year net sales guidance by $650 million, along with increases to other associated financial metrics.

Third quarter operating profit of $984 million increased $467 million and adjusted operating profit of $1,087 million increased $491 million, up 90% and 83%, respectively, from third quarter 2025. Adjusted operating margin was 25.2%, up 290 basis points compared to third quarter 2025, driven by operational leverage on higher sales and by manufacturing productivity, partially offset by mix impacts and continued growth investments.

"We are in the middle of the largest infrastructure buildout and it's accelerating," said Giordano Albertazzi, Vertiv's Chief Executive Officer. "The demands on data center infrastructure are evolving faster than ever, and Vertiv's role in that buildout keeps expanding. We're compressing new product development cycles from years to months. We're industrializing converged infrastructure at a scale that didn't exist before and strengthening competencies that are very hard to replicate. We are expanding capacity, improving productivity, and executing with rigor. The infrastructure we deliver performs at the highest levels of reliability. Customers are choosing Vertiv as the partner that can engineer, deliver, scale and service across the entire lifecycle. Our more than 100% organic orders growth year over year and our overall performance are clear testaments to that."

"The companies that will define the digital age are the ones investing ahead of the curve and delivering for customers, and that is what we are doing," said Dave Cote, Vertiv's Executive Chairman. "We are in an industry where the more technology changes, the better it is for us. We keep investing, we keep building, and what we have built is designed to scale. I believe there is a long runway ahead and the opportunity only gets bigger from here."

Adjusted Free Cash Flow and Liquidity

Net cash generated by operating activities in the third quarter was $794 million, and adjusted free cash flow was $652 million, increasing 64% and 50%, respectively, from third quarter 2025. Third quarter adjusted free cash flow was driven by higher adjusted operating profit partially offset by increased working capital and higher capital expenditures to support growth.

Vertiv's liquidity increased to $6.2 billion in the third quarter, with the company maintaining a net cash position and further broadening its strategic flexibility. Capital expenditures for full year 2026 are still anticipated at approximately 4.0% of revenue, reflecting the continued investment Vertiv is making to capture increasing demand across its pipelines.

Updated Full Year and Fourth Quarter 2026 Guidance

The data center market continues to generate strong, broad-based global demand, further validating the depth and duration of the growth cycle. Vertiv continues to expand capacity and invest in next-generation technology to stay ahead of customer needs and capture an expanding opportunity set.

Third Quarter 2026 Earnings Conference Call

Vertiv's management team will discuss the Company's results during a conference call on Wednesday, October 28, starting at 11 a.m. Eastern Time. The call will contain forward-looking statements and other material information regarding Vertiv's financial and operating results. A webcast of the live conference call will be available for interested parties to listen to by going to the Investor Relations section of the Company's website at investors.vertiv.com. A slide presentation will be available before the call and will be posted to the website, also at investors.vertiv.com. A replay of the conference call will also be available for 30 days following the webcast.

About Vertiv Holdings Co

Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers' vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today's data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit vertiv.com.

Category: Financial News

Non-GAAP Financial Measures

Financial information included in this release has been prepared in accordance with Generally Accepted Accounting Principles ("GAAP"). Vertiv has included certain non-GAAP financial measures in this news release, as indicated above, that may not be directly comparable to other similarly titled measures used by other companies and therefore may not be comparable among companies. These non-GAAP financial measures include organic net sales growth (including on a segment basis), adjusted operating profit, adjusted operating margin, adjusted diluted EPS, adjusted diluted EPS growth and adjusted free cash flow, which management believes provides investors with useful supplemental information to evaluate the Company's ongoing operations and to compare with past and future periods. Management also uses certain non-GAAP measures internally for forecasting, budgeting and measuring its operating performance. These measures should be viewed as supplementing, and not as an alternative or substitute for, the Company's financial results prepared in accordance with GAAP. Pursuant to the requirements of Regulation G, Vertiv has provided reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures.

Information reconciling certain forward-looking GAAP measures to non-GAAP measures related to fourth quarter and full year 2026 guidance, including organic net sales growth, adjusted free cash flow, adjusted diluted EPS growth and adjusted operating margin, is not available without unreasonable effort due to high variability, complexity and uncertainty with respect to forecasting and quantifying certain amounts that are necessary for such reconciliations. For those reasons, we are unable to compute the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.

See "Reconciliation of GAAP and Non-GAAP Financial Measures" in this release for Vertiv's reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures.

Cautionary Note Concerning Forward-Looking Statements

This news release, and other statements that Vertiv may make in connection therewith, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Vertiv's future financial or business performance, strategies or expectations, and as such are not historical facts. This includes, without limitation, statements regarding Vertiv's financial position, capital structure, indebtedness, business strategy and plans and objectives of Vertiv management for future operations, as well as statements regarding growth, anticipated demand for our products and services and our business prospects during 2026, as well as expected impacts from our pricing actions, and our guidance for fourth quarter and full year 2026 and statements regarding tariffs, global trade conflict and any actions we may take in response thereto. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Vertiv cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Such statements can be identified by the fact that they do not relate strictly to historical or current facts.