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Vertiv Holdings Expects Q4 Profit To Beat Estimates Ups Annual Outlook Above View

Vertiv Holdings Expects Q4 Profit To Beat Estimates, Ups Annual Outlook Above View

Vertiv Holdings Co. raised its annual outlook on Thursday after reporting fiscal fourth-quarter earnings that beat analysts' estimates

The power equipment maker said it now expects full-year profit between $1.95 per share and $2 per share, up from its prior forecast range of $1.85 per share to $1.95 per share.

Analysts on average had estimated full-year earnings of $1.93 per share, according to Refinitiv data.

Vertiv shares rose 6% to $22.02 in premarket trading.

The company reported net income of $106 million, or $1.23 per share, for the three months ended Dec. 31, compared with a loss of $208 million, or $2.43 per share, a year earlier.

Excluding items, Vertiv earned $1.44 per share, topping analysts' average estimate of $1.37 per share, according to Refinitiv data.

Revenue rose to $1.54 billion from $1.39 billion a year earlier, while analysts had estimated $1.52 billion.

Vertiv said it expects first-quarter revenue of $1.45 billion to $1.5 billion, compared with analysts' average estimate of $1.46 billion, according to Refinitiv data.

The company also said it expects full-year 2023 revenue between $6.4 billion and $6.6 billion, up from its prior forecast range of $6.2 billion to $6.4 billion.


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