Vertiv Holdings Co. (VRT) Tops Q3 EPS by 5c, Revenues Beat; Offers 4Q EPS/Revenue Outlook
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Vertiv Delivers Strong Third Quarter Operating Performance
November 4, 2020 6:00 AM ESTNet sales growth of 8.5% from last years third quarter fueled by continued strong demand from cloud and colocation market segments. Orders were 15.5% higher than the third quarter of 2019 driving a record backlog of $1.85 billion. Third quarter net loss of $16 million includes $80 million of restructuring program expenses composed of a $71 million restructuring reserve and a $9 million impairment loss. Third quarter adjusted EBITDA of $179 million increased $43 million, or 31%, and related margin expanded 270 basis points from the same period last year. The restructuring program is expected to drive $85... More
