Vertiv reported 24% revenue growth in Q2 2026 to $3.27 billion, driven by surging AI infrastructure demand, and raised i

Vertiv Holdings Co reported second quarter net sales of $3.274 billion for the quarter ended June 30, 2026, representing an increase of $636 million or 24% compared to the same period in 2025. This growth comprised 18% organic sales growth, a 5% contribution from acquisitions, and a 1% benefit from favorable foreign currency translation. The company attributed some timing shifts in quarterly revenue to temporary supply chain congestion and multi-phased project execution as deployments increase in size and complexity.

Operating profit reached $638 million in the quarter, up $196 million or 44% year-over-year, while adjusted operating profit climbed to $738 million, up $249 million or 51% from the prior year period. Adjusted operating margin expanded to 22.6%, a gain of 410 basis points compared to second quarter 2025, driven by operational execution, continued strong productivity, and favorable price-cost dynamics inclusive of tariff impacts and countermeasures.

Net cash generated by operating activities in Q2 totaled $1.100 billion, with adjusted free cash flow reaching $925 million, increases of 241% and 234% respectively from Q2 2025. The improved cash generation reflected higher adjusted operating profit, working capital efficiency and lower cash interest, partially offset by higher cash taxes and increased capital expenditures supporting growth investments. Vertiv ended the quarter with $5.6 billion of liquidity and maintained a net cash position.

Chief Executive Officer Giordano Albertazzi stated that demand for AI and general compute continues to intensify, with deployments growing more complex and infrastructure-intensive. He emphasized that Vertiv's understanding of power and thermal infrastructure at scale enables it to move at the speed customers require. Executive Chairman Dave Cote added that the company is positioned at the center of a structural, long-duration shift in technology infrastructure and continues to invest ahead of demonstrated demand.

For full year 2026, Vertiv expects capital expenditures to reach approximately 4.0% of revenue, representing the high end of guidance, as the company accelerates capacity expansion and strategic investments to meet demand and capture market share. Management raised its full year net sales guidance and associated financial metrics based on strong demand environment fundamentals, growing pipelines, and continued capacity expansions underway.