NYSE$VRT
Vertiv Holdings Co · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Vertiv's first quarter results for 2023 demonstrated strong growth and profitability, exceeding expectations and leading to raised full-year guidance.
Vertiv reported a strong first quarter in 2023 with net sales growth of 32% and organic net sales growth of 35%. Operating profit increased significantly, driven by pricing and volume benefits. The company raised its full-year 2023 operating profit and adjusted operating profit guidance, reflecting confidence in continued growth and operational execution.
- Net sales increased by 32% and organic net sales grew by 35% compared to the first quarter of last year.
- Operating profit reached $130 million, while adjusted operating profit was $176 million, exceeding the high-end of the guidance range.
- Net cash generated by operating activities was $42 million, and adjusted free cash flow was $25 million, both showing substantial increases year-over-year.
- Full year 2023 operating profit guidance was raised to $618 million at the midpoint, and adjusted operating profit guidance was raised to $800 million at the midpoint, up 82% compared to 2022.
Headline financials
Revenue & EPS history
Vertiv · Revenue · Quarterly
$1.52B
Revenue by segment
Vertiv · $1.19B total across 1 segment · Q1 2023
- Products$1.19B+39.7%100.0%
Forward guidance
Vertiv raised its full year 2023 adjusted operating profit guidance based on strong first quarter results and continued resilient data center market demand.
Tailwinds
- Market demand remains healthy and pipeline activity is encouraging.
- Strong beginning-of-the-year backlog.
- Improving supply chains.
- Improved operational execution.
- Price realization of $300 million.
Headwinds
- Differences in quarterly seasonality in 2023 compared to historic patterns.
- Incremental growth investments of $40 million.
- High variability in forecasting.
- Complexity in quantifying certain amounts.
- Uncertainty with respect to forecasting.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+1.5%
Avg return
Earnings day
+2.5%
Avg return
5 days after
+7.7%
Avg return
30 days after
56%
18 / 32 earnings
Positive
+30.0%
Q2 2023
Best reaction
-36.7%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.1% | +3.2% | +4.8% | |
| Q4 2025 | +24.5% | +17.5% | +29.7% | |
| Q3 2025 | -2.0% | +10.4% | -8.6% | |
| Q2 2025 | +1.0% | -1.8% | -10.6% | |
| Q1 2025 | +8.5% | +20.0% | +45.0% | |
| Q4 2024 | -9.7% | -12.3% | -29.0% | |
| Q3 2024 | -2.2% | +1.0% | +24.6% | |
| Q2 2024 | -16.0% | -14.3% | -13.7% | |
| Q1 2024 | +14.1% | +19.7% | +34.1% | |
| Q4 2023 | +1.4% | +6.9% | +33.0% | |
| Q3 2023 | -10.7% | -1.9% | +9.4% | |
| Q2 2023 | +30.0% | +34.6% | +50.3% | |
| Q1 2023 | +18.5% | +21.2% | +61.4% | |
| Q4 2022 | +7.9% | +3.3% | -14.2% | |
| Q3 2022 | +4.7% | +1.3% | -2.8% | |
| Q2 2022 | +11.9% | +10.2% | -4.8% | |
| Q1 2022 | +10.6% | +9.3% | -0.9% | |
| Q4 2021 | -36.7% | -33.5% | -34.3% | |
| Q3 2021 | +6.9% | +8.3% | +7.2% | |
| Q2 2021 | +1.7% | +0.2% | +2.2% | |
| Q1 2021 | +0.7% | -1.1% | +7.5% | |
| Q4 2020 | -6.3% | -1.8% | -10.2% | |
| Q3 2020 | -1.8% | -4.0% | +12.2% | |
| Q2 2020 | +8.0% | +11.1% | +5.9% | |
| Q4 2019 | +3.4% | +8.5% | +31.5% | |
| Q1 2020 | -0.9% | -2.9% | +30.1% | |
| Q2 2019 | -16.4% | -31.9% | -13.7% | |
| Q3 2019 | +0.0% | -0.3% | +1.0% | |
| Q1 2019 | -0.3% | -0.3% | +0.1% | |
| Q4 2018 | +0.2% | +0.6% | +0.7% | |
| Q3 2018 | +0.5% | +1.2% | +1.3% | |
| Q2 2018 | -0.1% | -1.1% | -1.6% |
Discussion
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