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Sep 30, 2022
Vertiv Q3 2022 Earnings Report
Reported a sales growth and improved profitability.
Key Takeaways
Vertiv reported a strong third quarter with a 20.5% increase in net sales and a 20.1% organic net sales increase. The company reaffirmed its fourth quarter and full year operating profit and adjusted operating profit guidance. Market demand remains strong, demonstrated by the increase in backlog.
Net sales increased by 20.5% compared to the third quarter of 2021.
Organic net sales growth was 20.1% compared to the third quarter of 2021.
Third quarter orders were up 15% compared to the third quarter of 2021, excluding foreign exchange impacts.
The company reaffirms fourth quarter 2022 operating profit guidance of $170 million to $190 million and adjusted operating profit of $220 million to $240 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Vertiv reaffirms its fourth quarter 2022 operating profit guidance of $170 million to $190 million and adjusted operating profit of $220 million to $240 million. The company also reaffirms its 2023 operating profit guidance of $530 million to $550 million and adjusted operating profit guidance of $730 million to $750 million.
Positive Outlook
- Reaffirms fourth quarter 2022 operating profit guidance of $170 million to $190 million
- Reaffirms fourth quarter 2022 adjusted operating profit of $220 million to $240 million
- Reaffirms 2023 operating profit guidance of $530 million to $550 million
- Reaffirms 2023 adjusted operating profit guidance of $730 million to $750 million
- Expects quarterly record high free cash flow generation in the fourth quarter of $250 million to $300 million
Challenges Ahead
- Supply chain challenges, notably for electronic components, are expected to continue at least into the first half of 2023.
- Increased estimate for inflation by $15 million for the full year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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