Vertiv reports 91% growth in GAAP earnings per share and $4.313 billion in sales
Key Facts
Vertiv reported diluted GAAP earnings per share of $1.95 in the third quarter of 2026, up 91% from the same period a year earlier, while adjusted earnings per share rose 78% to $2.21. The company said in its earnings release that net sales reached $4.313 billion, up 61% year over year. Results showed that growth extended beyond revenue, with organic orders increasing more than 100% during the quarter. The company raised its fiscal 2026 outlook, setting the midpoint of its sales range at $14.65 billion and adjusted earnings per share at $7.15. Results came as data center infrastructure construction accelerates, Chief Executive Giordano Albertazzi said.
Sales reached $4.313 billion, up 61% from the third quarter of 2025, while organic sales grew 55%. Acquisitions contributed about 6% to sales growth, according to the investor relations statement. The figures show that organic activity drove most of the year-over-year revenue increase, with an additional contribution from acquired companies. On the demand side, Vertiv said organic orders grew more than 100% from a year earlier. Order growth points to an expansion in contracted business in a quarter that also saw a sharp increase in sales.
Sales growth varied across the regions where the company operates, with the Americas recording the biggest increase at 74.5%, followed by Asia-Pacific at 49.9%. Sales in Europe, the Middle East and Africa rose 22.8%. The divergence shows that expansion was broad geographically, with the fastest growth concentrated in the Americas. Albertazzi said the company is "in the midst of the largest infrastructure buildout, and it is accelerating." He added that data center requirements are changing rapidly and Vertiv's role in that buildout is expanding.
Adjusted operating margin improved to 25.2% in the third quarter, up 2.9 percentage points year over year. The company attributed the improvement to operating leverage from higher sales and better manufacturing productivity. It said the impact of those factors was partly offset by product mix and continued investment to support growth. Margin expansion adds to sales and order growth as evidence that performance also extended to operating profitability. Adjusted earnings per share rose 78% to $2.21, outpacing organic sales growth of 55%.
Vertiv raised its fourth-quarter 2026 outlook, setting the midpoint of its net sales range at $4.413 billion and adjusted diluted earnings per share at $2.25. The company expects organic sales growth of 50% for the quarter, based on the midpoint of its guidance range. For the full fiscal year, the midpoint of its net sales outlook is $14.65 billion and adjusted diluted earnings per share is $7.15. These forecasts set out the execution path for next year's results after orders grew more than 100% in the third quarter. Albertazzi linked the company's prospects to expanding data center needs and accelerating infrastructure construction.
The announcement was reflected in Vertiv shares in the Oct. 28 session, when they closed at $242.94, compared with $208.56 at the previous session's close, a daily gain of 16.48%. Results topped analyst estimates cited by Investing.com of $1.82 in adjusted earnings per share and $3.75 billion in revenue. The report said the stock had risen 13.36% in premarket trading. EL7 data showed the stock closing at $242.94 on Oct. 28, confirming its closing level after the session. The share move and the beat on estimates show the market's response to the figures and outlook the company announced.