Second quarter 2024 operating profit of $336 million, up 63% from second quarter 2023, and adjusted operating profit(1) of $382 million, up 52% from second quarter 2023
Raising 2024 operating profit guidance to $1,256 million at the midpoint and adjusted operating profit to $1,435 million at the midpoint, an anticipated improvement of 36% compared to full year 2023
COLUMBUS, Ohio--(BUSINESS WIRE)-- Vertiv Holdings Co (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today reported financial results for its second quarter ended June 30, 2024. Vertiv reported second quarter 2024 net sales of $1,953 million, an increase of $219 million, or 13%, compared to last year’s second quarter. Organic orders (excluding foreign exchange) increased 57% from last year’s second quarter and the book-to-bill ratio was 1.4x in the second quarter. Orders for the trailing twelve-month period ended June 30, 2024 were up 37% compared to the prior trailing twelve-month period, demonstrating a strong market.
Second quarter 2024 operating profit of $336 million reflects an increase of $130 million and adjusted operating profit of $382 million reflects an increase of $131 million, or 52%, compared to second quarter 2023. Adjusted operating margin expanded 510 basis points to 19.6% in the second quarter 2024 compared to second quarter 2023, driven by benefits from increased volume, favorable price-cost and manufacturing and procurement productivity partially offset by investments in R&D and capacity to support growth.
“Vertiv delivered another strong performance in the second quarter with order growth again exceeding our expectations, rising 57% year-over-year and increasing 10% sequentially over an exceptional first quarter,” said Giordano Albertazzi, Vertiv’s Chief Executive Officer. “We continue to see increased scaling of AI deployment and Vertiv has the capacity in place to seize this pivotal moment while continuing to invest in capacity for the future. Vertiv is the connective tissue between IT and facilities in the data center, and we are just beginning to tap the tremendous potential of our unique position in the industry as we leverage the most complete portfolio of critical digital infrastructure solutions across the entire thermal and power technology spectrum, supported by over 3,750 field service engineers globally to help our customers navigate this increasingly complex environment.”
Dave Cote, Vertiv’s Executive Chairman, added: “Significant demand growth coupled with Vertiv’s unrelenting focus on operational execution to benefit our customers is translating into strong performance across the board with robust cash flow and higher profitability, accelerating progress toward our long-term target of 20%+ adjusted operating margin. These results reflect the strides Gio and his team continue to make in instilling operational excellence and a high-performance culture within the organization. This is providing a strong foundation for continued growth and long-term value creation for our shareholders.”
俄亥俄州哥倫布市--(美國商業資訊)--關鍵數字基礎設施和連續性解決方案的全球提供商維捷控股公司(紐約證券交易所代碼:VRT)今天公佈了截至2024年6月30日的第二季度財務業績。Vertiv報告稱,2024年第二季度淨銷售額爲19.53億美元,與去年第二季度相比增長2.19億美元,增長13%。有機訂單(不包括外匯)比去年第二季度增長了57%,第二季度的賬面與賬單比率爲1.4倍。截至2024年6月30日的過去十二個月期間的訂單與前十二個月相比增長了37%,這表明了強勁的市場。
與2023年第二季度相比,2024年第二季度的營業利潤爲3.36億美元,調整後的營業利潤爲3.82億美元,增長了1.31億美元,增長了52%。與2023年第二季度相比,2024年第二季度調整後的營業利潤率增長了510個點子至19.6%,這得益於銷量增加、有利的價格成本以及製造和採購生產率的投資部分被研發和支持增長的能力投資所抵消。
維諦科技首席執行官佐丹奴·艾伯塔齊表示:“維諦科技在第二季度再次表現強勁,訂單增長再次超出我們的預期,同比增長57%,環比增長10%,環比增長10%。”“我們繼續看到人工智能部署規模的擴大,Vertiv有能力抓住這一關鍵時刻,同時繼續投資未來的產能。Vertiv是IT與數據中心設施之間的連接組織,我們才剛剛開始挖掘我們在行業中獨特地位的巨大潛力,因爲我們利用整個熱能和電力技術領域中最完整的關鍵數字基礎設施解決方案組合,由全球3,750多名現場服務工程師提供支持,幫助我們的客戶應對這個日益複雜的環境。”
Vertiv執行董事長戴夫·科特補充說:“需求的顯著增長,加上Vertiv堅持不懈地專注於運營執行以造福客戶,這正在轉化爲全面的強勁業績、強勁的現金流和更高的盈利能力,加速了我們實現調整後營業利潤率超過20%的長期目標的進展。這些結果反映了吉奧及其團隊在組織內部灌輸卓越運營和高績效文化方面繼續取得的進步。這爲我們的股東的持續增長和長期價值創造提供了堅實的基礎。”