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Jun 30, 2023
Vertiv Q2 2023 Earnings Report
Reported strong second quarter results and raised full year 2023 outlook.
Key Takeaways
Vertiv reported a strong second quarter with net sales of $1,734 million, a 24% increase compared to the second quarter of 2022. The company raised its full year 2023 guidance for net sales, operating profit, and adjusted free cash flow.
Net sales increased by 24% compared to the second quarter of 2022, reaching $1,734 million.
Operating profit increased by $169 million compared to the second quarter of 2022, with an adjusted operating margin of 14.5%.
Operating cash flow and adjusted free cash flow increased by $460 million over the second quarter of 2022.
Full-year guidance raised for net sales to $6,810 million, operating profit to $768 million, and adjusted free cash flow to $550 million at the midpoint.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Vertiv raised its full year 2023 guidance for net sales, operating profit, and adjusted free cash flow.
Positive Outlook
- Net sales: $6,710M - $6,910M
- Organic net sales growth: 18% - 22%
- Adjusted operating profit: $925M - $975M
- Adjusted operating margin: 13.8% - 14.2%
- Adjusted diluted EPS: $1.54 - $1.64
Historical Earnings Impact
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Avg. Return Before/After Earnings
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