Vertiv Delivers Strong Third Quarter Operating Performance
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Vertiv Holdings Co. (VRT) Tops Q3 EPS by 5c, Revenues Beat; Offers 4Q EPS/Revenue Outlook
November 4, 2020 6:02 AM ESTVertiv Holdings Co. (NYSE: VRT) reported Q3 EPS of $0.32, $0.05 better than the analyst estimate of $0.27. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.11 billion.
Net sales growth of 8.5% from last years third quarter fueled by continued strong demand from cloud and colocation market segments. Orders were 15.5% higher than the third quarter of 2019 driving a record backlog of $1.85 billion.Third quarter net loss of $16 million includes $80 million of restructuring program expenses composed of a $71 million restructuring reserve and a $9 million impairment loss. Third quarter adjusted EBITDA of $179 million... More