The data-infrastructure company's second-quarter sales of $3.27 billion fell short of analyst expectations even as adjusted earnings topped estimates
Cheng Xin / Getty Images
Vertiv Holdings reported second-quarter adjusted earnings of $1.52 a share on Wednesday, up from 95 cents a year ago, while revenue of $3.27 billion grew 24% from the same period in 2025. Vertiv stock fell roughly 12% in premarket trading after ending Tuesday down 6.3%.
The revenue figure fell short of analyst expectations. Analysts had penciled in quarterly sales of $3.38 billion, according to Barron's. The adjusted earnings figure, however, beat the consensus estimate of $1.42 a share.
Vertiv attributed the quarter's revenue shortfall to timing factors rather than demand weakness. "Second quarter revenue reflected minor timing shifts, primarily due to temporary supply chain congestion and multi-phased project execution as deployments scale in size and complexity," the company said.
For the full year, Vertiv raised its guidance across key metrics. The company now forecasts adjusted earnings of $6.65 to $6.75 a share on net sales of $13.8 billion to $14.2 billion. Its previous guidance called for adjusted earnings of $6.30 to $6.40 a share on sales of $13.5 billion to $14 billion.
The updated full-year guidance failed to move markets. Wall Street had expected full-year adjusted earnings of $6.49 a share on sales of $13.88 billion, according to Barron's.
Looking to the third quarter, the company projected adjusted earnings in a range of $1.77 to $1.83 a share alongside net sales of $3.65 billion to $3.85 billion. The midpoint of that range essentially matched the Street's third-quarter targets of $1.79 a share in adjusted earnings and $3.71 billion in sales.
Vertiv's adjusted operating margin expanded 410 basis points to 22.6% in the second quarter compared to the same period a year earlier. Operating cash flow reached $1.1 billion for the quarter, and the company said it ended the period with $5.6 billion in liquidity and a net cash position.
Chief Executive Officer Giordano Albertazzi pointed to sustained demand as grounds for optimism. "Demand for AI and general compute continues to intensify and with each technology advancement, deployments grow more complex and more infrastructure-intensive," Albertazzi said in a statement. "Our pipelines continue to strengthen as the market expands globally."
The stock is up 66% in 2026 and has roughly doubled over the trailing 12-month period, with an 89% gain.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.
