$VRT (+2,61 %) Earnings

Vertiv Reports 57% Organic Orders Growth, 13% Net Sales Growth and 63% Operating Profit Growth in Second Quarter; Raises Full Year 2024 Outlook

• Second quarter 2024 organic orders up 57% compared to second quarter 2023, and up 37% on a trailing twelve-month basis
• Second quarter 2024 net sales of $1,953 million, 13% higher than second quarter 2023 and organic net sales growth of 14%
• Second quarter 2024 operating profit of $336 million, up 63% from second quarter 2023, and adjusted operating profit of $382 million, up 52% from second quarter 2023
• Adjusted operating margin of 19.6%, up 510 basis points compared to second quarter 2023
• Raising 2024 net sales guidance to $7,665 million at the midpoint, $50 million higher than prior guidance
• Raising 2024 operating profit guidance to $1,256 million at the midpoint and adjusted operating profit to $1,435 million at the midpoint, an anticipated improvement of 36% compared to full year 2023
• Raising 2024 adjusted free cash flow guidance to $875 million at the midpoint, $50 million higher than prior guidance