The earnings call reflected a strong financial performance for Vertiv Holdings Co in 2024, with significant increases in EPS, sales growth across regions, and robust free cash flow. The company has a solid balance sheet and is well-positioned for 2025 with a positive market outlook. However, there are concerns about order volatility, particularly in EMEA, and potential impacts from tariffs. Despite these challenges, the company remains optimistic about future growth.

Company Guidance

During Vertiv Holdings Co's fourth quarter and full year 2024 earnings conference call, several key metrics were highlighted. The company reported a significant 77% increase in adjusted earnings per share to $0.99, with organic sales growth of 27% in Q4, including over 20% growth in the Americas and APAC, and over 30% in EMEA. The adjusted operating profit for Q4 was $504 million, with a margin of 21.5%, an expansion of 380 basis points from the previous year. Adjusted free cash flow reached $362 million in Q4 and exceeded $1.1 billion for the year, reducing net leverage to 1x. For 2025, Vertiv anticipates sales of approximately $9.2 billion and adjusted EPS between $3.5 and $3.6, projecting continued strong performance driven by a robust backlog up 30% year on year and strong market demand, particularly in the Americas where trailing twelve-month organic orders grew by 50%.

Significant Increase in Adjusted EPS

Adjusted earnings per share (EPS) for Q4 were $0.99, a 77% increase compared to the previous year. For the full year 2024, adjusted EPS was $2.85, representing a 61% increase from the prior year.

Strong Organic Sales Growth

Q4 organic sales growth was 27%, with over 20% growth in both the Americas and APAC, and over 30% in EMEA. For the full year 2024, organic sales grew by 18% across all regions.

Robust Free Cash Flow

Adjusted free cash flow was $362 million in Q4 and over $1.1 billion for the year, with a conversion rate of 103%.

Strong Balance Sheet and Capital Deployment

Net leverage reduced to 1x by year-end, with $600 million of share repurchases in 2024 and a 50% increase in dividends. R&D investment increased by $50 million.

Positive Market Outlook for 2025

Projected adjusted EPS for 2025 is between $3.5 and $3.6, with sales estimated at approximately $9.2 billion, despite FX headwinds.

Record Operating Margin Expansion

Adjusted operating margin expanded by 380 basis points in Q4 to 21.5%, and by 410 basis points for the full year to 19.4%.

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Vertiv Holdings (VRT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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VRT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 23, 2025	2025 (Q1)	0.61 / -	0.43	―	―	―
Feb 12, 2025	2024 (Q4)	0.82 / 0.99	0.56	76.79% (+0.43)
Oct 23, 2024	2024 (Q3)	0.69 / 0.76	0.52	46.15% (+0.24)
Jul 24, 2024	2024 (Q2)	0.57 / 0.67	0.46	45.65% (+0.21)
Apr 24, 2024	2024 (Q1)	0.36 / 0.43	0.24	79.17% (+0.19)
Feb 21, 2024	2023 (Q4)	0.53 / 0.56	0.28	100.00% (+0.28)
Oct 25, 2023	2023 (Q3)	0.44 / 0.52	0.23	126.09% (+0.29)
Aug 02, 2023	2023 (Q2)	0.29 / 0.46	0.1	360.00% (+0.36)
Apr 26, 2023	2023 (Q1)	0.17 / 0.24	-0.08	400.00% (+0.32)
Feb 22, 2023	2022 (Q4)	0.31 / 0.28	0.04	600.00% (+0.24)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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VRT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 12, 2025	$123.25	$111.24	-9.74%
Oct 23, 2024	$112.44	$108.33	-3.66%
Jul 24, 2024	$90.95	$78.54	-13.64%
Apr 24, 2024	$79.10	$84.50	+6.83%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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