Vertiv Reports First Quarter 2020 Financial Results
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Vertiv Holdings Co. (VRT) Misses Q1 EPS by 5c, Revenues Miss; Withdraws FY20 Guidance
May 5, 2020 5:31 PM EDTVertiv Holdings Co. (NYSE: VRT) reported Q1 EPS of ($0.09), $0.05 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $897.3 million versus the consensus estimate of $950.52 million.
Customer demand remains strong with orders up 13% and backlog at record high $1.6BCOVID-19 impact and overall first quarter results in-line with our internal expectationsQuickly implemented $60 million of mitigating cost actions to benefit rest of year 2020Strong liquidity at end of March expected to continue even under deeper downside scenariosOur performance in the first quarter of 2020, which... More
