Vertiv Sales Rise 61% to $4.313 Billion as Orders Grow More Than 100%
Key Facts
Vertiv reported net sales of $4.313 billion in the third quarter ended September 30, 2026, up 61% from the same period a year earlier, while organic orders grew more than 100% year over year. Chief Executive Giordano Albertazzi said the company was operating "in the middle of the largest infrastructure expansion, and it is accelerating." The results reflect simultaneous growth in demand, sales and earnings, as the company raised its full-year 2026 sales outlook. EL7 data showed the stock closed at $208.56 on October 27, 2026. That closing price applies to that session alone.
Organic sales growth was 55%, while acquisitions added about 6% to sales growth during the quarter. Diluted earnings per share rose to $1.95, up 91% year over year, while adjusted diluted earnings per share increased 78% to $2.21. Operating profit grew 90% year over year, and adjusted operating profit rose 83%. The figures show improvement widening from revenue to earnings, alongside an increase in orders. The company said organic sales contributed the bulk of revenue growth, alongside the impact of acquisitions.
Adjusted operating margin rose to 25.2%, up 290 basis points from the third quarter of 2025. Vertiv attributed the margin improvement to operating leverage from higher sales and increased manufacturing productivity. It said, however, that sales mix and growth investments had an offsetting effect on margins. Operating cash flow was $794 million, up 64% year over year, while adjusted free cash flow reached $652 million, an increase of 50%. Liquidity totaled $6.2 billion, and the company retained a net cash position.
Sales grew across the three regions reported by the company, but at varying rates. Americas sales rose 75%, including organic growth of 66%, while the Asia-Pacific region recorded a 50% increase, including 48% organic growth. Sales in Europe, the Middle East and Africa rose 23%, with organic growth of 19%. The Americas had the fastest growth among the regions, while the increase in Europe, the Middle East and Africa was comparatively slower. Albertazzi said data center infrastructure requirements are evolving at an increasingly rapid pace.
Vertiv raised its fiscal 2026 net sales outlook range to $14.45–$14.85 billion and expects adjusted diluted earnings per share of $7.10–$7.20. It said the increase to its annual sales guidance was $650 million. The company attributed the raised outlook to demand visibility, ongoing capacity investments and disciplined execution. For the fourth quarter of 2026, it expects sales of $4.313–$4.513 billion and adjusted diluted earnings per share of $2.22–$2.28. The final-quarter outlook puts the conversion of demand into sales and earnings among the indicators to watch next.
The company scheduled its earnings call for October 28, 2026, at 11 a.m. Eastern Time, and said a replay would remain available for 30 days after the broadcast. The call follows the third-quarter results and new annual guidance. Albertazzi said data center infrastructure requirements are changing at an accelerating pace, as the company operates through what he described as the largest infrastructure expansion. Organic orders had risen about 60% year over year in the third quarter of 2025 and 20% from the previous quarter. The book-to-bill ratio was then about 1.4 times, while backlog reached $9.5 billion.