Vertiv Holdings Surges After Beating Q4 Earnings Expectations and Raising 2024 Guidance
Brief news summary
AI infrastructure company Vertiv Holdings experienced a significant stock surge after surpassing Q4 earnings expectations and providing robust guidance. Specializing in power and cooling solutions for data centers, Vertiv reported adjusted EPS of $1.36, beating the $1.29 consensus, with sales of $2.88 billion in line with estimates. For Q1, the company forecasts adjusted EPS between $0.95 and $1.01 and net sales of $2.5 billion to $2.7 billion, both exceeding analyst predictions. Full-year guidance also outperforms estimates, projecting net sales from $13.25 billion to $13.75 billion and adjusted EPS between $5.97 and $6.07. Vertiv was formed through a 2019 SPAC merger involving GS Acquisition Holdings and Platinum Equity, valued at about $1.9 billion including debt. After a slow start post-2020 listing, its stock soared over 1,300% since late 2022 amid the AI data center boom, reaching a market value near $70 billion and exemplifying successful SPAC-era financial engineering.AI infrastructure firm Vertiv Holdings is surging following its Q4 earnings report that surpassed expectations and offered optimistic guidance. In Q4, the leading provider of power and cooling solutions for data centers posted: - Adjusted earnings per share of $1. 36, beating the $1. 29 consensus forecast from analysts surveyed by FactSet. - Sales totaling $2. 88 billion, aligning with estimates. For Q1, management projected adjusted earnings between $0. 95 and $1. 01 per share; even the lower boundary exceeds the $0. 93 consensus estimate. Their Q1 net sales guidance, ranging from $2. 5 billion to $2. 7 billion, also surpassed Wall Street’s $2. 54 billion projection. For the full year, Vertiv’s guidance for net sales falls between $13. 25 billion and $13. 75 billion, with adjusted earnings per share anticipated between $5. 97 and $6. 07—both figures at the low end exceeding the highest analyst estimates polled by Bloomberg. Vertiv stands out as a notable success story of SPAC-era financial engineering. The company emerged from the merger of GS Acquisition Holdings Corp. , a so-called blank-check firm, and Vertiv Holdings—then owned by private equity firm Platinum Equity—in a roughly $1. 9 billion transaction including debt, initially announced in late 2019. After listing as Vertiv on February 10, 2020, the stock was largely stagnant for years.
However, as the AI data center boom gained momentum, shares skyrocketed. Since the end of 2022, the stock has surged more than 1, 300%, creating approximately $70 billion in market value for Vertiv.
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Vertiv Holdings Surges After Beating Q4 Earnings Expectations and Raising 2024 Guidance
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