Jun 2026 (Q2 FY26) — Jul 29, 2026
Vertiv Q2 FY26 — Strong Performance and Raised Full-Year Outlook Driven by Data Center Demand
Read the full callVertiv (VRT) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Vertiv earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3,274 | +24.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 19.5 | +2.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 498 | +53.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
40 of 42 judged targets kept · 21 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 adjusted diluted EPS | $1.40 at the midpoint | Mar 2026 | we delivered $1.52. That's up $0.57 or 60% versus prior year and $0.12 above guidance. | Achieved |
| Q2 net sales growth | $3.35 billion at the midpoint, 27% net sales growth versus prior year | Mar 2026 | Looking at net sales, we delivered $3.274 billion in the quarter. That's up $636 million or 24% versus prior year. | Missed |
| FY adjusted diluted EPS | $6.02 at the midpoint | Dec 2025 | we now expect $6.70 at the midpoint, that's up $2.50 or 60% versus 2025 | Revised Up |
2 of Vertiv Holdings Co's 63 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 60 more targets are in the full ledger.
Claimed
- Net sales increased 24% year-over-year to $3.274 billion, with organic growth of 18%.
- Adjusted operating margin expanded by 410 basis points year-over-year to 22.6%.
- Adjusted diluted EPS grew 60% year-over-year to $1.52, exceeding guidance by $0.12.
- Adjusted free cash flow was $925 million, a 234% year-over-year increase, with conversion exceeding 150%.
- Full-year net sales guidance raised by $250 million to $14 billion, and adjusted EPS guidance raised by $0.35 to $6.70.
Qualified
- Minor timing shifts in Q2 revenue, primarily driven by multiphase project execution and temporary supply chain dynamics, impacted Americas revenue.
- EMEA organic sales were down 2% year-over-year in Q2 FY26.
- Tariff impacts partially offset margin expansion, though favorable price-cost execution mitigated this.
Price
$206.08 −0.16% · −$0.34
Performance +18.4% 1Y
1Y: $174 on 17 Oct 2025 → $206.08. High $376.23 (14 May 2026), low $149.83 (17 Dec 2025).
- Previous close
- $206.42
- 52-week range
- $149.83 – $376.23
- One year
- +17.27%
Overview
- Symbol
- VRT
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
40 of 42 judged targets kept · 21 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 adjusted diluted EPS | $1.40 at the midpoint | Mar 2026 | we delivered $1.52. That's up $0.57 or 60% versus prior year and $0.12 above guidance. | Achieved |
| Q2 net sales growth | $3.35 billion at the midpoint, 27% net sales growth versus prior year | Mar 2026 | Looking at net sales, we delivered $3.274 billion in the quarter. That's up $636 million or 24% versus prior year. | Missed |
| FY adjusted diluted EPS | $6.02 at the midpoint | Dec 2025 | we now expect $6.70 at the midpoint, that's up $2.50 or 60% versus 2025 | Revised Up |
Claimed
- Net sales increased 24% year-over-year to $3.274 billion, with organic growth of 18%.
- Adjusted operating margin expanded by 410 basis points year-over-year to 22.6%.
- Adjusted diluted EPS grew 60% year-over-year to $1.52, exceeding guidance by $0.12.
- Adjusted free cash flow was $925 million, a 234% year-over-year increase, with conversion exceeding 150%.
- Full-year net sales guidance raised by $250 million to $14 billion, and adjusted EPS guidance raised by $0.35 to $6.70.
Qualified
- Minor timing shifts in Q2 revenue, primarily driven by multiphase project execution and temporary supply chain dynamics, impacted Americas revenue.
- EMEA organic sales were down 2% year-over-year in Q2 FY26.
- Tariff impacts partially offset margin expansion, though favorable price-cost execution mitigated this.
The full ledger
Open Vertiv Holdings Co’s full ledger
A free account opens 5 company ledgers a month. All 63 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 22, 2026
Vertiv Q1 FY26 — Strong Organic Growth and Raised Full-Year Outlook
Read the full callDec 2025 (Q4 FY25) — Feb 11, 2026
Vertiv Holdings Co Q4 FY25 — Record Orders and Strong Backlog Drive Growth
Read the full callEvery analysed call
Vertiv earnings calls (VRT)
Financials
What the filings say
Net profit, year on year: +54% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,074 | 2,346 | 2,036 | 2,638 | 2,676 | 2,880 | 2,650 | 3,274 |
| Operating profit | 372 | 457 | 291 | 442 | 517 | 580 | 440 | 638 |
| Operating margin | 17.9% | 19.5% | 14.3% | 16.8% | 19.3% | 20.1% | 16.6% | 19.5% |
| Interest | 36 | 31 | 25 | 21 | 23 | 17 | -4 | 17 |
| Profit before tax | 269 | 245 | 265 | 421 | 492 | 563 | 438 | 620 |
| Tax rate | 34.2% | 40.0% | 38.0% | 23.0% | 19.0% | 20.9% | 11.0% | 19.7% |
| Net profit | 177 | 147 | 165 | 324 | 399 | 446 | 390 | 498 |
| EPS ($ per share) | 0.47 | — | 0.43 | 0.85 | 1.04 | — | 1.02 | 1.29 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 5 | -1,001 | -1,331 | -1,215 | -1,143 | -692 | -238 | 1,028 |
| Total liabilities | 25 | 5,362 | 4,562 | 5,522 | 5,654 | 5,984 | 6,698 | 8,271 |
| Fixed assets | — | 428 | 428 | 489 | 489 | 560 | 625 | 922 |
| Total assets | 697 | 4,657 | 5,074 | 6,940 | 7,096 | 7,999 | 9,133 | 12,212 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -222 | 58 | 209 | 211 | -153 | 901 | 1,319 | 2,114 |
| Cash from investing | -208 | -65 | -46 | -1,217 | -112 | -139 | -202 | -1,501 |
| Cash from financing | 245 | 15 | 141 | 915 | 100 | -247 | -652 | -72 |
| Net cash flow | -173 | 8 | 309 | -95 | -174 | 515 | 444 | 558 |
| Capital expenditure | -65 | -48 | -44 | -73 | -100 | -128 | -167 | -220 |
| Free cash flow | -286 | 10 | 165 | 138 | -253 | 773 | 1,152 | 1,894 |
VRT revenue by segment
EMEA shrank from 21% to 15% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Americas | 58% | 54% | 58% | 61% | 64% | 66% | 68% | 63% | +29.2% |
| Asia Pacific | 21% | 23% | 22% | 21% | 19% | 17% | 19% | 22% | +28.5% |
| EMEA | 21% | 23% | 20% | 18% | 17% | 17% | 12% | 15% | +1.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
VRT operating KPIs by 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 ratioBook-to-bill was a convincing 1.4x in Q1.Source: earnings call transcript | 1.2 ratioOur Q2 book-to-bill ratio of 1.2x is particularly encouraging.Source: earnings call transcript | 1.4 ratioParticularly encouraging is the 1.4x book-to-bill ratio in Q3.Source: earnings call transcript | 2.9 ratioOur book-to-bill ratio was 2.9x.Source: earnings call transcript | +107.1% |
| Backlog | $7.9BOur backlog expanded further and expands strong at $7.9 billion, up $1.6 billion year-over-year.Source: earnings call transcript | $8.5BOur 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 | $9.5BOur total backlog now stands at $9.5 billion, up about 30% year-on-year and 12% sequentially.Source: earnings call transcript | $15BOur 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.
Insider filings
148 filings between Nov 10, 2025 and Oct 5, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$128.17M
73 sales by 7 insiders
27% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 52
- Award — granted as compensation
- 9
- Option exercise — converted options into shares
- 7
- Tax withheld — shares kept back by the company to cover tax
Also filed: 7 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| FRADIN ROGER | — | $51.40M | Feb 27, 2026 |
| REINEMUND STEVEN | — | $25.39M | Feb 26, 2026 |
| MONSER EDWARD L | — | $22.86M | Sep 1, 2026 |
| COTE DAVID M | — | $10.21M | Feb 26, 2026 |
| DOKKUM JAN VAN | — | $9.85M | Feb 26, 2026 |
| Karlborg Anders | — | $7.53M | Feb 26, 2026 |
| Liang Stephen | — | $937.8K | Nov 24, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 5, 2026 | Resha Michael EVP. Man, Logistics and Op Ex | Award | 2,503 | $634.8K |
| Oct 5, 2026 | Resha Michael EVP. Man, Logistics and Op Ex | Award | 690 | $175.0K |
| Sep 24, 2026 | Shen Wei President, Greater China | Award | 1 | $0 |
| Sep 24, 2026 | Ryan Paul President EMEA | Award | 3 | $0 |
| Sep 24, 2026 | Sanghi Anand Pres. Americas | Award | 4 | $0 |
| Sep 24, 2026 | Chamberlin Craig Chief Financial Officer | Award | 1 | $0 |
| Sep 24, 2026 | Albertazzi Giordano Chief Executive Officer | Award | 13 | $0 |
| Sep 24, 2026 | Armul Scott Chief Product and Tech Officer | Award | 6 | $0 |
| Sep 24, 2026 | Johnson Eric M. Chief Accounting Officer | Award | 1 | $0 |
| Sep 24, 2026 | Gill Stephanie L Chief Legal Officer & Sec. | Award | 6 | $0 |
| Sep 24, 2026 | Poncheri Frank Chief Human Resources Officer | Award | 4 | $0 |
| Sep 24, 2026 | Karlborg Anders EVP, Man., Logistics and Op Ex | Award | 5 | $0 |
| Sep 15, 2026 | Poncheri Frank Chief Human Resources Officer | Tax withheld | 2,352 | $551.8K |
| Sep 8, 2026 | Albertazzi Giordano Chief Executive Officer | Gift | 118,523 | $0 |
| Sep 1, 2026 | MONSER EDWARD L Director | Option exercise 10b5-1 plan | 15,287 | $175.8K |
| Sep 1, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 880 | $219.5K |
| Sep 1, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 3,520 | $899.6K |
| Sep 1, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 3,040 | $774.1K |
| Sep 1, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 2,280 | $575.8K |
| Sep 1, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 1,000 | $253.4K |
| Sep 1, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 2,087 | $535.0K |
| Sep 1, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 1,040 | $260.6K |
| Sep 1, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 1,440 | $362.2K |
| Jun 25, 2026 | Johnson Eric M. Chief Accounting Officer | Award | 0 | $0 |
| Jun 25, 2026 | Gill Stephanie L Chief Legal Officer & Sec. | Award | 5 | $0 |
| Jun 25, 2026 | Shen Wei President, Greater China | Award | 0 | $0 |
| Jun 25, 2026 | Albertazzi Giordano Chief Executive Officer | Award | 10 | $0 |
| Jun 25, 2026 | Chamberlin Craig Chief Financial Officer | Award | 1 | $0 |
| Jun 25, 2026 | Karlborg Anders EVP, Man., Logistics and Op Ex | Award | 4 | $0 |
| Jun 25, 2026 | Armul Scott Chief Product and Tech Officer | Award | 5 | $0 |
| Jun 25, 2026 | Ryan Paul President EMEA | Award | 2 | $0 |
| Jun 25, 2026 | Poncheri Frank Chief Human Resources Officer | Award | 3 | $0 |
| Jun 25, 2026 | Sanghi Anand Pres. Americas | Award | 3 | $0 |
| May 4, 2026 | Ryan Paul President EMEA | Tax withheld | 735 | $243.3K |
| May 4, 2026 | Karlborg Anders EVP, Man., Logistics and Op Ex | Tax withheld | 144 | $47.7K |
| May 4, 2026 | Armul Scott Chief Product and Tech Officer | Tax withheld | 511 | $169.1K |
| Mar 26, 2026 | Albertazzi Giordano Chief Executive Officer | Award | 11 | $0 |
| Mar 26, 2026 | Shen Wei President, Greater China | Award | 0 | $0 |
| Mar 26, 2026 | Sanghi Anand Pres. Americas | Award | 4 | $0 |
| Mar 26, 2026 | Chamberlin Craig Chief Financial Officer | Award | 1 | $0 |
| Mar 26, 2026 | Ryan Paul President, EMEA | Award | 3 | $0 |
| Mar 26, 2026 | Karlborg Anders EVP, Man., Logistics and Op Ex | Award | 4 | $0 |
| Mar 26, 2026 | Poncheri Frank Chief Human Resources Officer | Award | 3 | $0 |
| Mar 26, 2026 | Armul Scott Chief Product and Tech Officer | Award | 6 | $0 |
| Mar 26, 2026 | Gill Stephanie L Chief Legal Officer & Corp Sec | Award | 5 | $0 |
| Mar 26, 2026 | Johnson Eric M. Chief Accounting Officer | Award | 0 | $0 |
| Mar 15, 2026 | Shen Wei President, Greater China | Tax withheld | 930 | $240.8K |
| Mar 6, 2026 | Johnson Eric M. Chief Accounting Officer | Award | 620 | $0 |
| Mar 6, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 12,127 | $2.93M |
| Mar 6, 2026 | MONSER EDWARD L Director | Sale 10b5-1 plan | 3,600 | $865.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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