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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.
Vertiv
Vertiv
Vertiv Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comEMEA Revenue
CapyFin.com 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%
- 4Q 2021 Adjusted EPS $0.24 - $0.30
Revenue & Expenses
Visualization of income flow from segment revenue to net income