Vertiv Shares Drop Despite Earnings Beat and Raised Full-Year Guidance
Despite reporting better-than-expected earnings and raising its full-year guidance, shares of Vertiv (NYSE:VRT) fell more than 9% in pre-market trading on Wednesday. The decline came after the company's second-quarter revenue missed Wall Street estimates at $3.27 billion versus an expected $3.37 billion. However, adjusted earnings per share were reported at $1.52 against a forecast of $1.42. Vertiv also highlighted strong operational improvements with a 51% year-over-year increase in adjusted operating profit and a significant rise in its operating margin to 22.6%. CEO Giordano Albertazzi noted growing demand for AI infrastructure, which is driving more complex deployments globally. The company raised full-year revenue guidance to $13.8 billion–$14.2 billion from the previous range of $13.5 billion–$14.0 billion and expects adjusted earnings per share between $6.65 and $6.75, above analyst expectations.
Tickers: $VRT
Topics: Earnings Guidance Upgrade Revenue Miss Stock Movement