Vertiv (VRT) Q1 FY26 earnings call

Earnings call· Mar 2026 (Q1 FY26)· Industrials· Apr 22, 2026

Source: earnings call transcript

Vertiv delivered a strong Q1 FY26, driven by robust organic growth in the Americas and APAC, significant margin expansion, and strong free cash flow generation. The company raised its full-year guidance, reflecting confidence in continued demand, capacity expansion, and operational execution, despite temporary softness in EMEA. Management emphasized the increasing urgency and scale of AI infrastructure build-out, positioning Vertiv for sustained growth.

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VRT operating KPIs by quarter

VRT operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2025 Q1 FY25	Jun 2025 Q2 FY25	Sep 2025 Q3 FY25	Dec 2025 Q4 FY25	Change vs prior quarter
Book-to-bill ratio	1.4 ratio Book-to-bill was a convincing 1.4x in Q1. Source: earnings call transcript	1.2 ratio Our Q2 book-to-bill ratio of 1.2x is particularly encouraging. Source: earnings call transcript	1.4 ratio Particularly encouraging is the 1.4x book-to-bill ratio in Q3. Source: earnings call transcript	2.9 ratio Our book-to-bill ratio was 2.9x. Source: earnings call transcript	+107.1%
Backlog	$7.9B Our backlog expanded further and expands strong at $7.9 billion, up $1.6 billion year-over-year. Source: earnings call transcript	$8.5B Our backlog stands strong at $8.5 billion, up 21% versus prior year and 7% sequentially from Q1, supporting our increased guidance for the year. Source: earnings call transcript	$9.5B Our total backlog now stands at $9.5 billion, up about 30% year-on-year and 12% sequentially. Source: earnings call transcript	$15B Our backlog stands at $15 billion, more than double last year's. Source: earnings call transcript	+57.9%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.