Vertiv raises its outlook as quarterly sales climb 61%
The data-center equipment maker reports $4.31 billion in sales and lifts its full-year forecast.
Vertiv raised its full-year outlook on Wednesday after reporting a sharp increase in third-quarter sales. The data-center equipment maker posted revenue of $4.31 billion, up 61% from a year earlier, and adjusted earnings of $2.21 a share.
The company also reported that organic orders more than doubled from a year earlier. That means its order intake grew faster than its already-rising sales. Orders are a separate measure from revenue already booked in the quarter.
Vertiv now expects full-year revenue of $14.45 billion to $14.85 billion and adjusted earnings of $7.10 to $7.20 a share. Those ranges have midpoints of $14.65 billion and $7.15, respectively. The revised outlook raises the company's revenue expectation by $650 million at the midpoint.
The distinction between results and guidance matters. The third-quarter sales are reported results; the full-year figures remain management forecasts. Adjusted earnings are a non-GAAP measure and should be read alongside the company's financial statements and reconciliation, rather than treated as identical to GAAP profit.
