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Jun 30, 2024
Vertiv Q2 2024 Earnings Report
Vertiv reported strong Q2 2024 results, with significant growth in organic orders, net sales, and operating profit, and raised its full-year outlook.
Key Takeaways
Vertiv reported a strong second quarter in 2024, marked by a 57% increase in organic orders and a 13% increase in net sales compared to the previous year. The company's operating profit also saw a substantial rise of 63%. Vertiv has raised its full-year 2024 outlook, reflecting confidence in continued growth and operational execution.
Organic orders increased by 57% compared to Q2 2023.
Net sales reached $1,953 million, a 13% increase year-over-year.
Operating profit grew by 63% to $336 million.
Adjusted operating margin improved by 510 basis points to 19.6%.
Vertiv
Vertiv
Vertiv Revenue by Segment
Vertiv Revenue by Geographic Location
Revenue by Segment
Products Revenue
CapyFin.comServices & Spares Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comEMEA Revenue
CapyFin.com Forward Guidance
Vertiv raised its full year 2024 guidance for net sales, operating profit, and adjusted free cash flow.
Positive Outlook
- Net sales guidance raised to $7,665 million at the midpoint.
- Operating profit guidance raised to $1,256 million at the midpoint.
- Adjusted operating profit guidance raised to $1,435 million at the midpoint, a 36% improvement compared to full year 2023
- Adjusted free cash flow guidance raised to $875 million at the midpoint.
- Organic net sales growth between 12%-14%
Challenges Ahead
- High variability in forecasting and quantifying certain amounts.
- Complexity and uncertainty with respect to forecasting.
- Potential unpredictable impact on future GAAP financial results.
- Uncertainty in quantifying certain amounts.
- Inability to reconcile certain forward-looking GAAP measures to non-GAAP measures due to high variability
Revenue & Expenses
Visualization of income flow from segment revenue to net income