Vertiv Q3 net sales $1.74B (+18% YoY); adjusted op profit beats high-end guidance by $36M; raises full-year outlook

Vertiv Holdings Co

2023-Q3 EPS reported $0.59 revenue$4,997,800,000

Q3 net sales $1,743M, up 18% YoY (17% organic); orders up 11% ex-FX; backlog record $5.0B.
Adjusted operating profit $296M ($36M above guidance top); adjusted operating margin 17.0%, up 790 bps YoY.
Operating cash flow $249M; adjusted free cash flow $221M (+$242M YoY); net leverage 2.4x, forecasted ~2.1x year-end.
FY2023 guidance raised: adjusted op profit $1,020M-$1,030M; adjusted free cash flow $600M-$650M; adjusted EPS $1.69-$1.73.
CEO cites robust data center demand and AI infrastructure build as growth drivers.

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