Vertiv Q1 adj. operating profit $176M, up $163M YoY; raises FY2023 adj. op. profit guidance to $800M

Vertiv Holdings Co

2023-Q1 EPS reported $0.12 revenue$1,521,100,000

Net sales $1,521M (+32% YoY); organic net sales growth 35%.
Operating profit $130M; adjusted operating profit $176M, up $163M YoY, above guidance high-end by $41M.
Operating cash flow $42M (up $174M YoY); adjusted free cash flow $25M (up $175M).
Full year 2023 adj. operating profit guidance raised to $800M midpoint (up 82% vs 2022); Q2 adj. op. profit guidance $180-200M.
Orders normalized with book-to-bill 1.0x; backlog at record levels; demand resilient with AI investment.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vertiv Holdings Co reported three months ended March 31, 2023 results: revenue $1,521 million. Guidance raised.

Period: three months ended March 31, 2023
Revenue: $1,521 million
Guidance: raised
Result: reported results

Exact text from the filing

Vertiv Holdings Co (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today reported financial results for its first quarter ended March 31, 2023. Vertiv reported first quarter net sales of $1,521 million

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Source: SEC EDGAR

accession 0001628280-23-013042

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