Vertiv Holdings Co. (VRT) Misses Q4 EPS by 3c; Guides FY23
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Vertiv Reports Record Fourth Quarter 2022 Net Sales, Operating Profit, Adjusted Operating Profit(1) and Price Realization; Raising Operating Profit and Adjusted Operating Profit Guidance for 2023
February 22, 2023 5:55 AM ESTSales of $1,655 million, operating profit of $162 million and adjusted operating profit of $211 million in fourth quarter 2022 Fourth quarter price realization of $135 million. Net price-cost tailwind of $80 million in fourth quarter 2022 Record high backlog of $4.8 billion provides good visibility into top-line growth projections for 2023 Fourth quarter financial performance provides momentum for strong 2023. Expect 2023 net sales growth of 15%, operating profit of $568 million to $618 million and adjusted operating profit of $750 million to $800 million, up 76% at the midpoint of guidance compared to 2022
COLUMBUS, Ohio--(BUSINESS WIRE)-- Vertiv Holdings Co (NYSE:... More
