Vertiv Holdings Co files 8-K: results of operations, Regulation FD disclosure

Item 2.02 Results of Operations and Financial Condition

Item 7.01 Regulation FD The information set forth under Item 2.02 is incorporated by reference into this Item 7.01.

The Company will post a slide presentation in advance of the earnings call discussed in the press release to the Investor Relations section of the Company’s website, accessible at investors.vertiv.com .

Vertiv Reports Strong First Quarter with Diluted EPS Growth of 136% (Adjusted Diluted EPS Growth of +83%); Raises Full-Year Guidance

• Operating profit up 51% and adjusted operating profit (1) up 64% from first quarter 2025. Adjusted operating margin of 20.8%, up 430 basis points compared to first quarter 2025

• Operating cash flow of $767 million and adjusted free cash flow of $653 million, an increase of 153% and 147%, respectively, compared to prior year first quarter. Net leverage of ~0.2x at the end of first quarter 2026

• Expect net sales of $13,500 to $14,000 million, with organic sales growth of 29% to 31% compared to 2025

• Expect full year 2026 diluted EPS of $5.60 to $5.70 and adjusted diluted EPS of $6.30 to $6.40, an increase of 66% and 51%, respectively, at the midpoint compared to full year 2025

COLUMBUS, Ohio April 22, 2026 – Vertiv Holdings Co (NYSE: VRT), a global leader in critical digital infrastructure, today reported financial results for its first quarter ended March 31, 2026. Vertiv reported first quarter net sales of $2,650 million, an increase of $614 million, or 30%, compared to first quarter 2025, driven by 23% organic sales growth, 4% contribution from acquisitions, and 3% favorable currency translation impact. The Americas region led the organic sales growth, expanding 44% on strong data center demand.

First quarter operating profit of $440 million increased $149 million and adjusted operating profit of $551 million increased $214 million, up 51% and 64%, respectively, from first quarter 2025. Adjusted operating margin was 20.8%, up 430 basis points compared to first quarter 2025, driven by operational leverage on higher volume and positive price-cost, inclusive of tariff impacts and associated tariff mitigation countermeasures.

"We're seeing data center infrastructure requirements evolve significantly, with customers prioritizing optimized design, deployment speed, and operational efficiency - reshaping their approach to deployment," said Giordano Albertazzi, Vertiv's Chief Executive Officer. "This quarter's financial performance reflects our ability to meet customers at this critical moment with unique capabilities. Our investments in technology and capacity, combined with strategic acquisitions, are translating into market share gains as customers demand faster deployment, greater reliability, and comprehensive services. As infrastructure density increases and deployment timelines compress, we're positioned to be the partner customers need to bring their most ambitious projects to life, at scale.”

"This quarter demonstrates that Vertiv has built the kind of competitive position that compounds over time," said Dave Cote, Vertiv's Executive Chairman. "When customers face their toughest infrastructure challenges, they're choosing us - not only because of our technology, but because we can deliver at scale. Our addition to the S&P 500 in March reflects strong financial performance and market leadership in critical digital infrastructure. The strategic momentum gives me confidence in our long-term trajectory." Adjusted Free Cash Flow and Liquidity

Net cash generated by operating activities in the first quarter was $767 million and adjusted free cash flow was $653 million, increasing 153% and 147%, respectively, from first quarter 2025. First quarter adjusted free cash flow was driven by higher adjusted operating profit, working capital efficiency and lower cash interest, partially offset by higher cash taxes and increased capital expenditures to support growth investments.

Liquidity remained strong at $5.0 billion and net leverage was approximately 0.2x at the end of first quarter, driven by continued strong cash generation and working capital efficiency.

After receiving inaugural investment grade ratings from Moody's (Baa3) and S&P (BBB-) in February 2026, Vertiv completed a $2.1 billion senior unsecured notes issuance and put in place a new $2.5 billion revolving credit facility while also retiring its outstanding term loan and ABL revolver in March, enhancing financial flexibility to support continued growth.

Updated Full Year and Second Quarter 2026 Guidance

The data center market continues to demonstrate robust momentum, supported by strong underlying demand fundamentals. Vertiv is further accelerating capacity expansion and strategic investments to be well positioned to meet this demand and capture market share.

(1) This release contains certain non-GAAP metrics. For reconciliations to the relevant GAAP measures and an explanation of the non-GAAP measures and reasons for their use, please refer to sections of this release entitled “Non-GAAP Financial Measures” and “Reconciliation of GAAP and non-GAAP Financial Measures.”

(2) This is a forward-looking non-GAAP financial measure that cannot be reconciled without unreasonable efforts for those reasons set forth under “Non-GAAP Financial Measures” of this release.