Live: Will Vertiv (NYSE: VRT) Earnings Kick Off Another Rally?

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6:17 am

CEO Giordano Albertazzi’s very bullish statement on Vertiv’s future prospects:

“We are strategically investing in capacity expansion and accelerating our innovation pipeline to capitalize on unprecedented data center growth, particularly in AI-enabled infrastructure.

Given our strong performance, backlog and positive outlook, we are raising our full-year adjusted diluted EPS, net sales, adjusted operating profit and adjusted free cash flow forecast, positioning Vertiv for even stronger performance in the quarters ahead.”

 

How Q2 stacks up to Q1

6:11 am

What Changed	Q1 2025	Q2 2025
Revenue Beat Size	+$110M	+$282M
EPS Surprise	+$0.06	+$0.12
Margin Commentary	Constructive	Cautious
Orders Commentary	Strong	Accelerating
Guidance Action	Reaffirmed	Raised

And a reset on FY 25 estimates going into the back half of the year. Expect analysts to follow through with ~5–7% upward revisions to full-year EPS targets.

Metric	Old FY25 Consensus	New Company Guide	Δ
Revenue	$9.453B	$10.0B (midpoint)
Adjusted EPS	$3.58	$3.80 (midpoint)

Vertiv share soaring pre-market

6:10 am

Vertiv shares are up over 9% after an early morning earnings beat.

Metric	Q2 2025 Actual	Q2 2025 Estimate	Result
Revenue	$2.64B	$2.36B
Adjusted EPS	$0.95	$0.83
Cash from Operations	$323M	$220.3M

Vertiv also lifted its full-year 2025 guidance meaningfully across nearly every key metric:

Metric	New FY25 Guide	Prior Guide	Δ
Revenue	$9.925B – $10.075B	$9.325B – $9.575B	Up
Adjusted EPS	$3.75 – $3.85	$3.55 – $3.58	Up
Adjusted Op. Profit	$1.95B – $2.03B	$1.935B (midpoint)	Up
Adj. Free Cash Flow	$1.375B – $1.425B	$1.3B	Up
Adj. Op. Margin	19.7% – 20.3%	20.5%	Down

Margin guide was the only slight blemish — revised down by 50 bps at the midpoint due to tariff mitigation costs and manufacturing transitions. But management expects recovery in the second half of the year.

AI Infrastructure Remains the Growth Engine

Vertiv’s business is tethered to hyperscaler and enterprise AI infrastructure demand. This quarter validated that theme.

• Revenue up 35% YoY, driven by AI buildouts and stronger prefabricated system demand.

• APAC segment +37%, with management pointing to accelerating AI data center deployments in Korea and Japan.

• The new acquisition (Great Lakes Data Racks) is a strategic bet on “white space” physical infrastructure.

Vertiv Q2 Earnings Expectations

5:20 am

We previewed what Vertiv delivered when they reported Q1 earnings in April, now let’s look at what Wall Street expects today:

Q2 Wall Street Consensus 

• Revenue: $2.356 billion
• Cash from Operations: $220.3 million
• Adjusted EPS: $.83

2025 Wall Street Consensus

• Revenue: $9.453 billion
• Adjusted EPS: $3.58

Once earnings are released, analysts will race to see whether 1.) Vertiv beat expectations for last quarter and 2.) whether the company has adjusted its guidance for 2025. Given Vertiv’s recent rally, its like shares will be negative if they merely match expectations.

Stocks that have rallied as much as Vertiv has generally need a ‘beat and raise’ where they exceed the prior quarter and raise full-year expectations. As a reminder, in Q1 Vertiv guided to full year revenue of 9.325B – $9.575B.

We expect Vertiv earnings to be released shortly before 6 a.m. ET. 

Vertiv (NYSE: VRT) reports earnings this morning. Will its furious rally continue? We’ll be updating this live blog with updates. So simply leave this page open and news and analysis will appear throughout the morning. 

I’ve long been a fan of Vertiv. In January, I named it one of the top picks that could surge from the creation of massive data center projects like Stargate. Also, I bought the stock and added it to the $500,000 Portfolio I manage for 24/7 Wall St.’s $500,000 AI Portfolio. 

The stock crashed in the first quarter of the year as worries about DeepSeek limiting AI infrastructure spend dominated. In early April shares hit a low of $53 per share. 

Yet, with every hyperscaler affirming (and raising) capital expenditure plans headed into 2026, Vertiv shares have rallied hard off the bottom. Headed into earnings, the company is up 140% from its April 4th close. 

Let’s look at what the company reported in Q1 and Wall Street’s expectations for Q2 earnings today. 

A Look Back at Vertiv’s Q1 Earnings 

Here’s a look back at what Vertiv reported in the first quarter of the year:

VRT | Vertiv Holdings Co Q1’25 Earnings Highlights

• Adj. EPS: $0.64 ; UP +49% YoY
• Revenue: $2.036B []; UP +24% YoY
• Adj. Operating Profit: $336.7M []; UP +35% YoY
• Operating Profit: $290.7M []; UP +43% YoY
• Net Income: $164.5M [
• Adjusted Free Cash Flow: $265M; UP +162% YoY
• Liquidity: $2.3B
• Net Leverage: 0.8x

2025 Outlook:

• Revenue: $9.325B – $9.575B []
  • Guidance reflects robust demand in the data center market, particularly driven by AI infrastructure deployments.
  • Assumes current tariff rates remain constant throughout 2025, with proactive measures to mitigate impacts.

Q1 Segment Performance:

• AMER Revenue: $1.185B []; UP +28.1% YoY
• APAC Revenue: $447.2M []; UP +34.6% YoY
• EMEA Revenue: $403.5M []; UP +5.7% YoY

Other Key Q1 Metrics:

• Adj. Operating Margin: 16.5% []; UP +130 bps YoY
• Effective Tax Rate: 38.0% (vs. -54.6% YoY)
• Capital Expenditures: $36.5M; UP +2% YoY
• Cash and Cash Equivalents: $1.467B
• Accounts Receivable: $2.311B
• Inventories: $1.384B

CEO Commentary:

• Giordano Albertazzi: “Vertiv’s strong first quarter results demonstrate our continued momentum and reinforce our position for long-term sustainable growth. We continue to see accelerated scaling of AI deployments across the data center market, with strong demand signals reinforcing both our near- and long-term growth outlook. The iGenius project, which involves delivering a complete AI infrastructure solution for one of Italy’s leading AI technology companies, demonstrates our ability to rapidly deploy prefabricated AI solutions at scale. This project includes advanced cooling systems and power infrastructure specifically designed for high-density AI computing environments. Our partnership with NVIDIA and our reference designs for their GB200 and GB300 NVL72 platforms position Vertiv at the forefront of AI factory deployment at industrial scale. Assuming tariff rates on April 22, 2025 remain constant through year-end, we believe that our diverse manufacturing footprint, operational flexibility, and commercial strategies will progressively lessen the tariff impact as the year progresses. Although the tariff environment remains fluid, our goal is to significantly mitigate the effect of tariffs as we enter 2026.”

CFO Commentary:

• Dave Cote: “Vertiv’s first quarter results demonstrate how well the team is executing in an increasingly complex environment. The focus on operational excellence and high-performance culture is delivering strong results. Our operational and commercial improvements over the past three years have positioned us well to effectively manage through the tariff environment and navigate these challenges. While we’re seeing heightened demand in the market, particularly in AI infrastructure, what is most exciting is that we are still in the early stages of unlocking Vertiv’s full potential. The team’s relentless focus on execution, and ability to keep customers future-ready through this rapid market evolution, positions us well to create substantial long-term value for our shareholders as this market continues to expand and transform.”

Strategic Updates:

• Vertiv is investing in engineering research and development (ER&D) and capacity expansion to support the growing needs of the industry, particularly in AI infrastructure deployments.

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