Vertiv Holdings Co. (VRT) Tops Q4 EPS by 1c
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Vertiv's Fourth Quarter Challenged by Inflationary and Supply Chain Pressures; Expect Pricing Actions Taken to Generate Strong Second Half 2022 and Provide Momentum Into 2023
February 23, 2022 6:00 AM ESTEnd-market demand remained strong with fourth quarter 2021 orders up 51% from last years fourth quarter and record-high Vertiv backlog of $3.2 billion. Fourth quarter net sales growth of 8% and organic net sales growth(1) of 4% versus fourth quarter 2021. Fourth quarter operating loss of $4 million and adjusted operating profit(1) of $94 million negatively impacted by accelerating inflation headwinds and continued supply chain constraints. Full year 2022 guidance at the midpoint: net sales of $5.7 billion (net sales growth of 13%), organic net sales growth(2) of 8%, diluted earnings per share of $0.11 and adjusted diluted earnings per share(1) of $0.70. Operating profit of $301 million and... More
