Vertiv Holdings, Llc · NYSE:VRT
Vertiv — Q2 2026 Earnings Presentation
24 slides from Vertiv's earnings presentation, Jul 29, 2026
Slide 1: Second Quarter 2026 Results
Second Quarter 2026 Results July 29, 2026
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This presentation, and other statements that Vertiv may make in connection therewith, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Vertiv’s future financial
Slide 3: Second quarter 2026 key messages
Second quarter 2026 key messages Second quarter net sales up ~24% versus second quarter 2025 driven by continued strength in the Americas (up 29%), APAC (up 29%) and EMEA returning to positive sales growth (up 2%). Organic net sales up ~18% (1) vs prior year (~5% M&A, ~1% FX). Second quarter adjuste
Slide 4: Business dynamics
Business dynamics Market environment Manufacturing and supply chain • Strong pipeline momentum: points to another year of expected • Sequential and year-over-year revenue growth reflects our robust orders growth. continued investment in capacity expansion and strong backlog, positioning the business
Slide 5: Well positioned for AI power architectures evolution
Well positioned for AI power architectures evolution Multiple AC, MV AC and MV DC architectures will coexist COLLABORATION SPOTLIGHT across customer applications, each supported with a complete, orchestrated power train from source to rack, pod, and data hall. MV AC → 800 VDC data hall Path to 800 V
Slide 6: Thermal closed-loop architectures and fluid management service advancements enable 'near zero' water required
Thermal closed-loop architectures and fluid management service advancements enable ‘near zero’ water required Closed-Loop Cooling Design Cooling Loop Commissioning Vertiv Thermal Chain from Vertiv PurgeRite NearZero Chip to Heat-Reuse Fluid management services Enabling effectively zero Up to ~95% le
Slide 7: Second quarter 2026 financial results
Second quarter 2026 financial results $Millions; deltas to midpoint of guidance range Adj. Diluted EPS Net Net Sales Sales Adj. Operating Profit Adj. Operating Margin Adj. Free Cash Flow Up ~$0.57 Up ~$636M Up ~$249M Up ~410 bps Up ~$648M Up ~60% vs. prior year Up ~24% vs. prior year Up ~51% vs. pri
Slide 8: Second quarter 2026 financial results
Second quarter 2026 financial results $Millions Net sales Up 29% Up 29% Up 2% Americas Organic +21% Organic +26% Organic -2% 2,071 • Organic sales growth remained robust; experienced minor 720 timing shifts in Q2 revenue, primarily due to temporary 1,602 supply chain congestion and multi-phased proj
Slide 9: Third quarter 2026 financial guidance
Third quarter 2026 financial guidance $Millions; deltas to midpoint of guidance range Adj. Diluted EPS Net Net Sales Sales Adj. Operating Profit Adj. Operating Margin Up ~$0.56 Up ~$1,074M Up ~$322M Up ~220 bps Up ~45% vs. prior year Up ~40% vs. prior year Up ~54% vs. prior year $1.80 24.5% 3,750 91
Slide 10: Full year 2026 financial guidance
Full year 2026 financial guidance $Millions; deltas to midpoint of guidance range Adj. Diluted EPS Net Sales Adj. Operating Profit Adj. Operating Margin Adj. Free Cash Flow Up ~$2.50 Up ~$3,770M Up ~$1,235M Up ~340bps Up ~$613M Up ~60% vs. prior year Up ~37% vs. prior year Up ~59% vs. prior year Up
Slide 11: Key takeaways
Key takeaways COLLABORATION SPOTLIGHT STRONG Q2 PERFORMANCE: Vertiv infrastructure helps bring NVIDIA Exceeded guidance on Adjusted diluted EPS • Adjusted AI computing capability to the Naval operating margin • Adjusted operating profit Postgraduate School (NPS) • On-premise, existing-facility deliv
Slide 12: Non-GAAP financial reconciliations
Non-GAAP financial reconciliations © 2026 Vertiv. All Rights Reserved. 12
Slide 13: Non-GAAP financial measures – second quarter results
Non-GAAP financial measures – second quarter results Reconciliation of segment operating profit (loss) to operating profit (loss) and adjusted Reconciliation from operating profit (loss) margin to adjusted operating profit (loss) margin operating profit (loss) ($M | 2nd QUARTER) 2Q26 2Q25 ($M | 2n
Slide 14: Non-GAAP financial measures – second quarter results (cont.)
Non-GAAP financial measures – second quarter results (cont.) Reconciliation of diluted EPS to adjusted diluted EPS and operating profit (loss) to adjusted operating profit (loss) Other non- Interest operating Income Operating expense expense tax expense ($M, except EPS | 2nd QUARTER 2026) profit (lo
Slide 15: Non-GAAP financial measures – third quarter 2026 guidance
Non-GAAP financial measures – third quarter 2026 guidance Reconciliation of diluted EPS to adjusted diluted EPS and operating profit (loss) to adjusted operating profit (loss) At midpoint of guidance range Interest Operating profit expense (income), Income tax expense ($M, except EPS | 3rd QUARTER 2
Slide 16: Non-GAAP financial measures – fourth quarter 2026 guidance
Non-GAAP financial measures – fourth quarter 2026 guidance Reconciliation of diluted EPS to adjusted diluted EPS and operating profit (loss) to adjusted operating profit (loss) At midpoint of guidance range Interest Operating profit expense (income), Income tax expense ($M, except EPS | 4th QUARTER
Slide 17: Non-GAAP financial measures – FY 2026 guidance
Non-GAAP financial measures – FY 2026 guidance Reconciliation of diluted EPS to adjusted diluted EPS and operating profit (loss) to adjusted operating profit (loss) At midpoint of guidance range Interest Loss on Operating expense (income), extinguishment of Other non-operating Income tax expense Net
Slide 18: Non-GAAP financial measures: Q1 2025 – Q2 2026 results
Non-GAAP financial measures: Q1 2025 – Q2 2026 results Net Sales(1) ($M) 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 2Q26 Americas $1,185.3 $1,602.3 $1,712.4 $1,886.3 $6,386.3 $1,814.4 $2,070.8 Asia Pacific 447.2 560.2 519.8 492.0 2,019.2 513.7 719.9 EMEA 403.5 475.6 443.6 501.7 1,824.4 321.4 483.6 Total $2,036.0
Slide 19: Non-GAAP financial measures: Q1 2025 – Q2 2026 results
Non-GAAP financial measures: Q1 2025 – Q2 2026 results Reconciliation from operating profit (loss) margin to adjusted operating profit (loss) margin ($M) 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 2Q26 Net sales $2,036.0 $2,638.1 $2,675.8 $2,880.0 $10,229.9 $2,649.5 $3,274.3 Operating profit 290.7 442.4 516.7 59
Slide 20: Non-GAAP financial measures: Q1 2025 – Q2 2026 results
Non-GAAP financial measures: Q1 2025 – Q2 2026 results Reconciliation of segment operating profit (loss) to operating profit (loss) and adjusted operating profit (loss) ($M) 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 2Q26 Americas $259.7 $384.6 $510.8 $568.2 $1,714.3 $490.2 $571.4 Asia Pacific 45.7 59.2 68.5 48.
Slide 21: Non-GAAP financial measures – organic net sales growth reconciliation
Non-GAAP financial measures – organic net sales growth reconciliation Reconciliation of change in net sales to organic change in net sales Net Sales Δ FX Δ Acquisition Δ(1) Organic growth Organic Δ %(2) ($M | 2nd QUARTER 2026) Americas: $468.5 ($6.4) ($124.1) $338.0 21.1% Asia Pacific: 159.7 (15.8)
Slide 22: Fourth quarter 2026 financial guidance
Fourth quarter 2026 financial guidance $Millions; deltas to midpoint of guidance range Adj. Diluted EPS Net Net Sales Sales Adj. Operating Profit Adj. Operating Margin Up ~$0.84 Up ~$1,445M Up ~$448M Up ~260 bps Up ~62% vs. prior year Up ~50% vs. prior year Up ~67% vs. prior year $2.20 4,325 1,116 2
Slide 23: Guidance assumptions
Guidance assumptions $Millions unless otherwise specified Tax Assumptions Avg 1H26 2H26 2025 Avg Rate Assumption CNY / USD 7.15 6.84 6.77 USD / EUR 1.14 1.15 1.15 USD / GBP 1.33 1.33 1.35 INR / USD 87.69 93.86 96.36 1-mo SOFR 3.6% Our Adjusted ETR for 2Q26 was 20% compared to prior guidance of 23%.
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