Vertiv Raises 2026 Sales Outlook By $650 Million After Third-Quarter Sales Jump 61%
Organic orders grew more than 100% and adjusted operating margin reached 25.2%, as the data center equipment maker lifted every key full-year metric.
Vertiv, which makes the power and cooling equipment that keeps data centers running, reported third-quarter net sales of $4,313 million, up 61% from a year earlier, and raised its full-year 2026 sales outlook by $650 million. Organic orders, which exclude currency swings and acquisitions, grew more than 100% year over year, the company said Wednesday.
Sales up $1,637 million
The $1,637 million increase reflected 55% organic growth and roughly 6% from acquisitions. The Americas rose 75% (66% organic), Asia-Pacific 50% (48% organic) and Europe, the Middle East and Africa 23% (19% organic).
Adjusted operating profit climbed 83% to $1,087 million, and the adjusted margin hit 25.2%, up 2.9 percentage points (290 basis points). The company credited operating leverage on higher sales and manufacturing productivity, partly offset by product mix and growth investments.
Diluted earnings per share rose 91% to $1.95, and adjusted diluted earnings per share rose 78% to $2.21. Net income was $764.5 million, against $398.5 million a year earlier.
A bigger full-year forecast
Vertiv now expects 2026 net sales of $14,650 million at the midpoint of a $14,450 million to $14,850 million range, with organic growth of 38%. Adjusted earnings per share are guided to $7.15 at the midpoint, within a range of $7.10 to $7.20. Adjusted free cash flow is expected at $2,600 million to $2,800 million, and capital spending is still seen at about 4.0% of revenue.
For the fourth quarter, it expects net sales of $4,413 million and adjusted earnings per share of $2.25, each at the midpoint of guidance.
CEO Giordano Albertazzi said, "We are in the middle of the largest infrastructure buildout and it's accelerating." Executive Chairman Dave Cote said he believes "there is a long runway ahead."
Cash, backlog and a swelling balance sheet
Operating cash flow was $794 million and adjusted free cash flow $652 million, up 64% and 50% from the third quarter of 2025. Higher working capital and capital spending partly offset stronger profit. Liquidity rose to $6.2 billion, and the company kept a net cash position.
Deferred revenue reached $4,120.5 million at September 30, from $1,814.7 million at the end of 2025. Inventories grew to $3,288.4 million from $1,456.5 million over the same period.
Vertiv, which also sells software, maintenance and spare parts, holds its third-quarter call at 11 a.m. ET Wednesday, with a slide presentation posted beforehand at investors.vertiv.com.
Vertiv's guidance implies a fourth quarter with organic sales growth of 50% at the midpoint, compared with the fourth quarter of 2025.
Sources
- 8-K Filing — Vertiv Holdings Co (VRT) — SEC EDGAR
- Exhibit q32026exhibit991vrt10282026.htm — Vertiv Holdings Co 8-K exhibit — SEC EDGAR
- Vertiv Reports Strong Third Quarter 2026 with Net Sales Growth of 61%, Organic Orders Growth over 100% and Diluted EPS Growth of 91% (Adjusted Diluted EPS Growth of 78%); Raises Full Year 2026 Guidance Across All Key Metrics — prnewswire.com
