Vertiv, 2026년 3분기 실적 발표: 순매출 61% 성장, 유기적 수주 100% 이상 증가, 희석 주당순이익(EPS) 91% 증가(조정 희석 EPS 78% 증가); 2026년 연간 가이던스 전 주요 지표 상향 조정

Third Quarter 2026 Results

Net sales of $4,313 million, 61% higher than third quarter 2025.

Operating profit up 90% and adjusted operating profit (1) up 83% from third quarter 2025. Adjusted operating margin of 25.2%, up 290 basis points compared to third quarter 2025.

Diluted EPS grew 91% to $1.95 and adjusted diluted EPS (1) grew 78% to $2.21 compared to third quarter 2025.

Operating cash flow of $794 million and adjusted free cash flow (1) of $652 million, up 64% and 50%, respectively, compared to third quarter 2025.

Fourth Quarter 2026 Guidance

Expects fourth quarter 2026 net sales of $4,413 million and organic sales growth of 50%, each at the midpoint of guidance, compared to fourth quarter 2025.

Expects fourth quarter 2026 diluted EPS of $2.08 and adjusted diluted EPS of $2.25, each at the midpoint of guidance, an increase of 82% and 65%, respectively, compared to fourth quarter 2025.

Full Year 2026 Guidance

Expects full year 2026 net sales of $14,650 million and organic sales growth of 38%, each at the midpoint of guidance, compared to full year 2025.

Expects full year 2026 diluted EPS of $6.29 and adjusted diluted EPS of $7.15, each at the midpoint of guidance, an increase of 84% and 70%, respectively, compared to full year 2025.

, /PRNewswire/ -- Vertiv Holdings Co (NYSE: VRT ) ("Vertiv"), a global leader in critical digital infrastructure, reported financial results for its third quarter ended September 30, 2026. Vertiv reported third quarter net sales of $4,313 million, an increase of $1,637 million, or 61%, compared to third quarter 2025, reflecting 55% organic sales growth and approximately 6% contribution from acquisitions. Growth was broad-based across all regions, with the Americas up 75% (66% organic), APAC up 50% (48% organic), and EMEA up 23% (19% organic). Strong demand visibility, ongoing capacity investments, and disciplined execution give Vertiv the confidence to raise full year net sales guidance by $650 million, along with increases to other associated financial metrics.

Third quarter operating profit of $984 million increased $467 million and adjusted operating profit of $1,087 million increased $491 million, up 90% and 83%, respectively, from third quarter 2025. Adjusted operating margin was 25.2%, up 290 basis points compared to third quarter 2025, driven by operational leverage on higher sales and by manufacturing productivity, partially offset by mix impacts and continued growth investments.

"We are in the middle of the largest infrastructure buildout and it's accelerating," said Giordano Albertazzi, Vertiv's Chief Executive Officer. "The demands on data center infrastructure are evolving faster than ever, and Vertiv's role in that buildout keeps expanding. We're compressing new product development cycles from years to months. We're industrializing converged infrastructure at a scale that didn't exist before and strengthening competencies that are very hard to replicate. We are expanding capacity, improving productivity, and executing with rigor. The infrastructure we deliver performs at the highest levels of reliability. Customers are choosing Vertiv as the partner that can engineer, deliver, scale and service across the entire lifecycle. Our more than 100% organic orders growth year over year and our overall performance are clear testaments to that."

"The companies that will define the digital age are the ones investing ahead of the curve and delivering for customers, and that is what we are doing," said Dave Cote, Vertiv's Executive Chairman. "We are in an industry where the more technology changes, the better it is for us. We keep investing, we keep building, and what we have built is designed to scale. I believe there is a long runway ahead and the opportunity only gets bigger from here."

Adjusted Free Cash Flow and Liquidity

Net cash generated by operating activities in the third quarter was $794 million, and adjusted free cash flow was $652 million, increasing 64% and 50%, respectively, from third quarter 2025. Third quarter adjusted free cash flow was driven by higher adjusted operating profit partially offset by increased working capital and higher capital expenditures to support growth.

Vertiv's liquidity increased to $6.2 billion in the third quarter, with the company maintaining a net cash position and further broadening its strategic flexibility. Capital expenditures for full year 2026 are still anticipated at approximately 4.0% of revenue, reflecting the continued investment Vertiv is making to capture increasing demand across its pipelines.

Updated Full Year and Fourth Quarter 2026 Guidance

The data center market continues to generate strong, broad-based global demand, further validating the depth and duration of the growth cycle. Vertiv continues to expand capacity and invest in next-generation technology to stay ahead of customer needs and capture an expanding opportunity set.

Fourth Quarter 2026 Guidance

Net sales

$4,313M - $4,513M

Organic net sales growth (2)

49% - 51%

Adjusted operating profit (1)

$1,118M - $1,158M

Adjusted operating margin (2)

25.3% - 26.3%

Adjusted diluted EPS (1)

$2.22 - $2.28

Adjusted diluted EPS growth (2)

63% - 67%

Full Year 2026 Guidance

Net sales

$14,450M - $14,850M

Organic net sales growth (2)

37% - 39%

Adjusted operating profit (1)

$3,475M - $3,555M

Adjusted operating margin (2)

23.5% - 24.5%

Adjusted diluted EPS (1)

$7.10 - $7.20

Adjusted diluted EPS growth (2)

69% - 71%

Adjusted free cash flow (2)

$2,600M - $2,800M

(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)