Vertiv Q1 net sales $1.64B (+8% YoY), organic orders up 60%; raises FY2024 guidance

Vertiv Holdings Co

2024-Q1 EPS reported -$0.02 revenue$1,639,100,000

First-quarter net sales of $1,639M, up 8% YoY; organic orders surged 60% and book-to-bill reached 1.5x.
Adjusted operating profit of $249M (+42% YoY); adjusted operating margin expanded 370 bps to 15.2%.
Repurchased $600M of shares (9.1M shares at ~$66/share) in Q1; net leverage 2.2x.
Full-year 2024 guidance raised: net sales $7,540M-$7,690M (+12% midpoint), adjusted op. profit $1,325M-$1,375M.
Q2 2024 guidance: net sales $1,900M-$1,950M, adjusted diluted EPS $0.53-$0.57.

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 0.95

Vertiv Holdings Co reported the three months ended March 31, 2024 results: revenue net sales of $1,639 million. Guidance raised.

Period: the three months ended March 31, 2024
Revenue: net sales of $1,639 million
Guidance: raised
Result: reported results

Exact text from the filing

to first quarter 2023, book-to-bill ratio 1.5x in first quarter 2024 and record high $6.3 billion backlog at the end of first quarter 2024 • First quarter 2024 net sales of $1,639 million, 8% higher than first quarter 2023 • First quarter 2024 operating profit of $203 million and adjusted operating profit (1) of $249 million, up 42% from first quarter 2023 •

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Source: SEC EDGAR

accession 0001628280-24-017513

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