Vertiv reports 24.1% revenue growth, supported by data center power and cooling demand.
Stock Earnings Results
July 29, 2026
Table of Contents
July 29, 2026
Vertiv Holdings Co (NYSE: VRT) reported second-quarter 2026 results with adjusted earnings above expectations, strong margin expansion, higher cash flow, and raised full-year guidance, though revenue came in below estimates.
Vertiv provides critical digital infrastructure products and services, including power, cooling, IT infrastructure, hardware, software, analytics, and lifecycle services for data centers, communication networks, and commercial and industrial facilities.
The company reported adjusted diluted EPS of $1.52, above estimates of $1.43, representing a 6.3% earnings surprise. Revenue came in at $3.27 billion, below estimates of $3.39 billion, though revenue grew 24.1% year-over-year.
Net sales increased 24% year-over-year to $3.27 billion.
Organic sales increased 18%.
Acquisitions contributed 5 percentage points of growth, while foreign currency added 1 percentage point.
GAAP diluted EPS increased 53% to $1.27.
Adjusted diluted EPS increased 60% to $1.52.
Operating profit increased 44% to $638 million.
Adjusted operating profit increased 51% to $738 million.
Adjusted operating margin increased 410 basis points to 22.6%.
Vertiv said margin expansion was driven by operational execution, productivity, and favorable price-cost trends.
The company said pricing and cost actions included the impact of tariffs and related countermeasures.
The margin expansion helped offset the revenue miss and supported the EPS beat.
Vertiv said second-quarter revenue was affected by minor timing shifts.
The company pointed to temporary supply chain congestion and multi-phased project execution as deployments scale in size and complexity.
Management said demand remains strong, pipelines are growing, and capacity expansions are continuing to support customer needs.
CEO Giordano Albertazzi said demand for AI and general compute continues to intensify.
He said deployments are becoming more complex and more infrastructure-intensive with each technology advancement.
Management said Vertiv’s power and thermal infrastructure expertise helps the company move at the speed required by customers.
The company also said the data center market continues to show strong momentum.
Operating cash flow was $1.10 billion.
Adjusted free cash flow was $925 million.
That represented increases of 241% and 234%, respectively, from the prior-year quarter.
Vertiv ended the quarter with $5.6 billion of liquidity and a net cash position.
Management said the stronger balance sheet gives the company more strategic flexibility.
Americas net sales increased 29.2% year-over-year to $2.07 billion.
Asia Pacific net sales increased 28.5% to $719.9 million.
Europe, Middle East and Africa net sales increased 1.7% to $483.6 million.
On an organic basis, Americas sales increased 21.1%, Asia Pacific increased 25.7%, and EMEA declined 2.4%.
The strongest growth came from the Americas and Asia Pacific, while EMEA remained weaker.
Vertiv raised its full-year 2026 guidance across key metrics.
The company now expects full-year net sales of $13.8 billion to $14.2 billion.
Organic net sales growth is expected to range from 30% to 32%.
Adjusted operating profit is expected to range from $3.29 billion to $3.37 billion.
Adjusted operating margin is expected to range from 23.3% to 24.3%.
Adjusted diluted EPS is expected to range from $6.65 to $6.75.
Adjusted free cash flow is expected to range from $2.4 billion to $2.6 billion.
For the third quarter, Vertiv expects net sales of $3.65 billion to $3.85 billion and adjusted diluted EPS of $1.77 to $1.83.
Vertiv delivered another strong AI infrastructure quarter, even with revenue slightly below estimates.
Adjusted EPS beat expectations, margins expanded sharply, cash flow improved, and management raised full-year guidance across major metrics. Demand from AI and general compute remains the central growth driver, with data center deployments becoming larger and more complex.
The key issue is whether Vertiv can convert strong demand and growing pipelines into revenue on schedule while managing capacity expansion, supply chain pressure, and project complexity.
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