Vertiv Q4 net sales $1,655M (+17% YoY); record backlog $4.8B; raises 2023 adj. op. profit guidance to $750-800M

Vertiv Holdings Co

2022-FY EPS reported -$0.04 revenue$5,691,500,000

Q4 2022 net sales $1,655M (+17.3% YoY); organic growth 22%; operating profit $162M vs. loss of $4M a year ago.
Adjusted operating profit $211M (+$117M YoY); price realization $135M; net price-cost tailwind $80M in Q4.
Record backlog $4.8B (+49% YoY); orders adjusted for FX declined 15% YoY but up 7% sequentially.
FY 2023 guidance: net sales $6,450-6,600M (15% organic growth); adj. op. profit $750-800M (up ~76% at midpoint).
Q1 2023 guidance: net sales $1,350-1,450M; adj. op. profit $115-135M; adj. free cash flow ($100M)-($50M).

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vertiv Holdings Co reported the fourth quarter ended December 31, 2022 results: revenue $1,655 million. Guidance raised.

Period: the fourth quarter ended December 31, 2022
Revenue: $1,655 million
Guidance: raised
Result: reported results

Exact text from the filing

Vertiv reported fourth quarter net sales of $1,655 million, an increase of $244 million, or 17.3%, compared with last year’s fourth quarter and a 22.0% organic net sales increase (1), which excludes the impact of foreign currency, acquisitions and divestitures.

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Source: SEC EDGAR

accession 0001628280-23-004432

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