Vertiv Raises Full-Year Outlook as Sales Jump 61% and Orders More Than Double

Vertiv raised its full-year forecast across every key metric after third-quarter sales jumped 61% and organic orders more than doubled, as the data center equipment supplier rides what its CEO called "the largest infrastructure buildout" underway.

The Columbus, Ohio, maker of power and cooling systems for data centers reported third-quarter net sales of $4.313 billion, up $1.637 billion from a year earlier, according to the earnings release it filed with an 8-K on Wednesday. Organic sales grew 55%, with acquisitions adding about 6 percentage points.

Growth across every region

Sales in the Americas rose 75%, or 66% organically. Asia Pacific grew 50%, or 48% organically, and Europe, the Middle East and Africa grew 23%, or 19% organically.

Vertiv said organic orders rose more than 100% year over year. "We are in the middle of the largest infrastructure buildout and it's accelerating," CEO Giordano Albertazzi said.

Profits climb faster than sales

Operating profit rose 90% to $984 million, and adjusted operating profit rose 83% to $1.087 billion. Adjusted operating margin reached 25.2%, up 290 basis points, which the company attributed to operating leverage on higher sales and manufacturing productivity, partly offset by mix and growth investments.

Diluted earnings per share rose 91% to $1.95. Adjusted diluted EPS rose 78% to $2.21.

Operating cash flow was $794 million, up 64%, and adjusted free cash flow was $652 million, up 50%. Liquidity rose to $6.2 billion, and the company said it maintains a net cash position.

Raised outlook

Vertiv lifted its full-year net sales guidance by $650 million. It now expects 2026 net sales of $14.45 billion to $14.85 billion, with organic growth of 37% to 39%. Adjusted operating profit is forecast at $3.475 billion to $3.555 billion and adjusted diluted EPS at $7.10 to $7.20. Adjusted free cash flow is expected to be $2.6 billion to $2.8 billion.

At the midpoint, the company expects full-year diluted EPS of $6.29 and adjusted diluted EPS of $7.15, up 84% and 70%, respectively.

For the fourth quarter, Vertiv guided to net sales of $4.313 billion to $4.513 billion, organic growth of 49% to 51%, and adjusted diluted EPS of $2.22 to $2.28.

Capital spending for the full year is still expected at about 4.0% of revenue as the company expands capacity.

Why it matters

Vertiv's results are a read on the physical side of the AI boom: the power distribution, thermal management and services that data centers need before chips can run. Executive Chairman Dave Cote said in the release that he believes "there is a long runway ahead."

The more-than-doubling of organic orders, alongside a raised outlook, suggests the company's demand visibility extends beyond the current year, according to management's comments.

Sources

1. Vertiv Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 28, 2026 (accession 0001628280-26-067707)

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