Vertiv's FQ4 earnings top estimates but March quarter guidance falls short; shares dip
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Vertiv Reports Strong Fourth Quarter Results and Provides Full Year 2024 Outlook
February 21, 2024 5:55 AM ESTFourth quarter net sales of $1,865 million, 13% higher than the fourth quarter of 2022 Fourth quarter organic orders up 23% from fourth quarter 2022. Record high $5.5 billion backlog at the end of fourth quarter 2023 Fourth quarter operating profit of $285 million and adjusted operating profit(1) of $330 million, up 57% from fourth quarter 2022 Operating cash flow of $356 million and adjusted free cash flow(1) of $305 million, an increase of $162 million over the fourth quarter 2022. Net leverage of 1.9x at end of fourth quarter 2023 Full year 2023 operating cash flow of $901 million and adjusted free cash flow of $778 million, an... More
