Results
1Vertiv Reports Strong Second Quarter 2026 with Diluted EPS Growth of 53% (Adjusted Diluted EPS Growth of +60%); Raises Full Year 2026 Guidance Across All Key MetricsGuidance raised
Second Quarter 2026 Results
7Net sales of $3,274 million, 24% higher than second quarter 2025.
Operating profit up 44% and adjusted operating profit (1) up 51% from second quarter 2025.
Adjusted operating margin of 22.6%, up 410 basis points compared to second quarter 2025.
4Diluted EPS grew 53% to $1.27 and adjusted diluted EPS grew 60% to $1.52 compared to second quarter 2025.
Operating cash flow of $1,100 million and adjusted free cash flow of $925 million, an increase of 241% and 234%, respectively, compared to prior year second quarter.
Achieved a net cash position at the end of second quarter 2026.
Outlook
Full Year 2026 Guidance
3Expects full year 2026 net sales of $14,000 million and organic sales growth of 31%, each at the midpoint of guidance, compared to full year 2025.
2Expects full year 2026 diluted EPS of $5.82 to $5.92 and adjusted diluted EPS of $6.65 to $6.75, a midpoint increase of 72% and 60%, respectively, compared to full year 2025.Guidance raised
Results
COLUMBUS, Ohio July 29, 2026 – Vertiv Holdings Co (NYSE: VRT) (“Vertiv”), a global leader in critical digital infrastructure, reported financial results for its second quarter ended June 30, 2026.
6Vertiv reported second quarter net sales of $3,274 million, an increase of $636 million, or 24%, compared to second quarter 2025, reflecting 18% organic sales growth, a 5% contribution from acquisitions, and a 1% benefit from favorable foreign currency translation.
Second quarter revenue reflected minor timing shifts, primarily due to temporary supply chain congestion and multi-phased project execution as deployments scale in size and complexity.
8The strong demand environment, growing pipelines, and the continual capacity expansions underway to serve customers give Vertiv the confidence to raise full year net sales guidance, along with increases to other associated financial metrics.Guidance raised
Second quarter operating profit of $638 million increased $196 million and adjusted operating profit of $738 million increased $249 million, up 44% and 51%, respectively, from second quarter 2025.
Adjusted operating margin was 22.6%, up 410 basis points compared to second quarter 2025, driven by operational execution, continued strong productivity, and favorable price-cost, inclusive of tariff impacts and associated countermeasures.
Management commentary
"This quarter reflects the compounding effect of years of deliberate investment in technology, capacity, and customer partnerships," said Giordano Albertazzi, Vertiv's Chief Executive Officer.
"Demand for AI and general compute continues to intensify and with each technology advancement, deployments grow more complex and more infrastructure-intensive.
Our understanding of how power and thermal infrastructure responds at scale allows us to move at the speed our customers require.
Growth at this pace demands both vision and operational precision — and Vertiv delivers on each, with the innovation to lead and the execution to scale efficiently.
Our pipelines continue to strengthen as the market expands globally, giving us confidence to raise guidance and conviction in sustained, strong performance — this year and beyond."Guidance raised
“Vertiv continues to demonstrate what happens when a company is positioned at the center of a structural, long-duration shift in technology infrastructure and executes with rigor,” said Dave Cote, Vertiv's Executive Chairman.
“We are moving at the speed of technology and transforming how customers build and scale critical infrastructure.
We see a demand environment that continues to grow, and we continue to invest ahead of it — planting seeds now that we expect to compound for years to come.”
Outlook
Adjusted Free Cash Flow and Liquidity
Results
Net cash generated by operating activities in the second quarter was $1,100 million, and adjusted free cash flow was $925 million, increasing 241% and 234%, respectively, from second quarter 2025.
Second quarter adjusted free cash flow was driven by higher adjusted operating profit, working capital efficiency, and lower cash interest, partially offset by higher cash taxes and increased capital expenditures to support growth investments.
Outlook
5Vertiv ended the second quarter with $5.6 billion of liquidity and a net cash position, further strengthening the balance sheet and providing significant strategic optionality.
Capital expenditures for full year 2026 are expected to be
Management commentary
approximately 4.0% of revenue, at the high end of the range.
Vertiv is continuing to invest to support the strong demand it sees across its pipelines.
Outlook
Updated Full Year and Third Quarter 2026 Guidance
Management commentary
The data center market continues to demonstrate strong momentum, with demand fundamentals reinforcing the durability of the growth environment.
Vertiv is further accelerating capacity expansion and strategic investments to meet this demand and capture market share.
Outlook
Third Quarter 2026 Guidance
Net sales$3,650M - $3,850M
Organic net sales growth (2)34% - 36%
Adjusted operating profit (1)$898M - $938M
Adjusted operating margin (2)24.0% - 25.0%
Adjusted diluted EPS (1)$1.77 - $1.83
Adjusted diluted EPS growth (2)43% - 48%
Full Year 2026 Guidance
Net sales$13,800M - $14,200M
Organic net sales growth (2)30% - 32%
Adjusted operating profit (1)$3,285M - $3,365M
Adjusted operating margin (2)23.3% - 24.3%
Adjusted diluted EPS (1)$6.65 - $6.75
Adjusted diluted EPS growth (2)58% - 61%
Adjusted free cash flow (2)$2,400M - $2,600M
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