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Sep 30, 2021
Vertiv Q3 2021 Earnings Report
Vertiv's Q3 2021 performance was marked by net sales growth, strong orders growth, and a record backlog, despite facing inflation and supply chain challenges.
Key Takeaways
Vertiv reported a 5.8% increase in net sales and a 17.2% increase in orders, reaching a record backlog of $2.4 billion. The company's operating profit was $82 million, and adjusted operating profit was $131 million. Diluted earnings per share were $0.15, and adjusted diluted earnings per share were $0.20.
Robust end-market demand continued with double-digit order growth and record backlog of $2.4 billion.
Net sales growth of 5.8% and organic net sales growth of 3.9% versus prior year third quarter.
Third quarter operating profit of $82 million and adjusted operating profit of $131 million, with operating profit margin of 6.7% and adjusted operating profit margin of 10.7%.
Diluted earnings per share of $0.15 and adjusted diluted earnings per share of $0.20.
Revenue by Geographic Location
Forward Guidance
Vertiv has updated its guidance to include impacts from the E+I acquisition, as well as the divestiture of the heavy industrial UPS business. The net impacts from these transactions are an additional $55 million in net sales and $13 million in adjusted operating profit and are included in the guidance table for both fourth quarter and full year 2021.
Positive Outlook
- Net sales $4,970M - $5,030M
- Organic net sales growth 10.5% - 11.5%
- Adjusted operating profit $543M - $563M
- Adjusted operating margin 10.9% - 11.2%
- Adjusted EPS $0.97 - $1.03
Challenges Ahead
- Supply chain headwinds continue at current levels for the remainder of the year.
- Anticipate supply chain pressure to continue at least through the first half of 2022.
- 4Q 2021 Net sales $1,382M - $1,442M
- 4Q 2021 Organic net sales growth 3.0% - 7.0%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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