Vertiv Holdings, Llc · NYSE:VRT
Vertiv — Q2 2025 Earnings Presentation
24 slides from Vertiv's earnings presentation, Jul 30, 2025
Slide 1: Second Quarter 2025 Results
Second Quarter 2025 Results July 30, 2025
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 2025 key messages
Second quarter 2025 key messages Second quarter adjusted diluted earnings per share of $0.95, up ~42% from second quarter 2024 primarily driven by higher adjusted operating profit from the 34% organic net sales increase with additional benefit from lower net interest expense. Second quarter organic
Slide 4: Customer demand, tariffs, procurement and operations
Customer demand, tariffs, procurement and operations Customer demand Tariffs* • Trailing Twelve-month (TTM) organic orders growth of ~11% vs. • Tariff situation remains fluid and uncertain. Projected tariff same prior year period and second quarter organic orders are up impact in current guidance ha
Slide 5: Strength in data center gray space and white space
Strength in data center gray space and white space Gray and White Space Connectivity Aligned to Great Lakes(1) to enhance Vertiv's capacity to Vertiv Strengths deliver future AI-ready rack solutions • As data center rack densities rise and infrastructure rapidly evolves, the mechanical and system in
Slide 6: Second quarter 2025 financial results
Second quarter 2025 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 ~$0.28 Up ~$685M Up ~$107M Down ~110 bps Down ~$60M Up ~42% vs. prior year Organic up ~34% vs. prior year Up ~
Slide 7: Second quarter 2025 financial results
Second quarter 2025 financial results $Millions Net sales Americas Up 43% Up 37% Up 13% Organic +43% Organic +37% Organic +7% • Organic sales growth driven by demand in hyperscale & colocation markets with strong contribution from switchgear, busway, liquid cooling, and infrastructure solutions. • L
Slide 8: Third quarter 2025 financial guidance
Third quarter 2025 financial guidance $Millions; deltas to midpoint of guidance range Adj. Diluted EPS Net Net Sales Sales Adj. Operating Profit Adj. Operating Margin Up ~$0.21 Up ~$477M Up ~$93M Down ~10 bps Up ~28% vs. prior year Organic up ~22% vs. prior year Up ~22% vs. prior year $0.97 2,550 51
Slide 9: Full year 2025 financial guidance
Full year 2025 financial guidance $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 ~$0.95 Up $1,988M Up ~$438M Up ~60 bps Up ~$265M Up ~33% vs. prior year Organic up ~24% vs. prior year Up ~28% vs.
Slide 10: Key takeaways
Key takeaways CUSTOMER PROJECT SPOTLIGHT CoreWeave deployment of NVIDIA GB300 NVL72 Q2 2025 EXCEEDED GUIDANCE METRICS: • Vertiv, CoreWeave (an AI cloud provider), and NVIDIA Adjusted diluted EPS • Strong net sales outperformance • collaboration enables the world’s first cloud deployment Higher adjus
Slide 11: Non-GAAP financial reconciliations
Non-GAAP financial reconciliations © 2025 Vertiv. All Rights Reserved. 11
Slide 12: Non-GAAP financial measures – second quarter results
Non-GAAP financial measures – second quarter results Reconciliation of segment operating profit (loss) to operating profit (loss) and adjusted Reconciliation from operating profit (loss) margin to adjusted operating profit (loss) margin operating profit (loss) ($M | 2nd QUARTER) 2Q25 2Q24 ($M | 2n
Slide 13: Non-GAAP financial measures – second quarter results (cont.)
Non-GAAP financial measures – second quarter results (cont.) Reconciliation of diluted EPS to adjusted diluted EPS and operating profit (loss) to adjusted operating profit (loss) Interest Income tax expense ($M, except EPS | 2nd QUARTER 2025) Operating profit (loss) expense, net (benefit) Net income
Slide 14: Non-GAAP financial measures – third quarter 2025 guidance
Non-GAAP financial measures – third quarter 2025 guidance Reconciliation of diluted EPS to adjusted diluted EPS and operating profit (loss) to adjusted operating profit (loss) Operating Income tax profit Interest expense Net income ($M, except EPS | 3rd QUARTER 2025) (loss) expense, net (benefit) (l
Slide 15: Non-GAAP financial measures – fourth quarter 2025 guidance
Non-GAAP financial measures – fourth quarter 2025 guidance At midpoint of guidance range Reconciliation of diluted EPS to adjusted diluted EPS and operating profit (loss) to adjusted operating profit (loss) Operating profit Interest Income tax expense ($M, except EPS | 4th QUARTER 2025) (loss) expen
Slide 16: Non-GAAP financial measures – FY 2025 guidance
Non-GAAP financial measures – FY 2025 guidance At midpoint of guidance range Reconciliation of diluted EPS to adjusted diluted EPS and operating profit (loss) to adjusted operating profit (loss) Income Operating profit Interest tax expense ($M, except EPS | FULL YEAR 2025) (loss) expense, net (benef
Slide 17: Non-GAAP financial measures: Q1 2024 – Q2 2025 results
Non-GAAP financial measures: Q1 2024 – Q2 2025 results Net Sales(1) ($M) 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 2Q25 Americas $925.0 $1,121.1 $1,198.6 $1,255.9 $4,500.6 $1,185.3 $1,602.3 APAC 332.3 409.1 432.4 544.0 1,717.8 447.2 560.2 EMEA 381.8 422.6 442.5 546.5 1,793.4 403.5 475.6 Total $1,639.1 $1,952.8
Slide 18: Non-GAAP financial measures: Q1 2024 – Q2 2025 results
Non-GAAP financial measures: Q1 2024 – Q2 2025 results Reconciliation from operating profit (loss) margin to adjusted operating profit (loss) margin ($M) 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 2Q25 Net sales $1,639.1 $1,952.8 $2,073.5 $2,346.4 $8,011.8 $2,036.0 $2,638.1 Operating profit 202.6 336.0 371.6 457
Slide 19: Non-GAAP financial measures: Q1 2024 – Q2 2025 results
Non-GAAP financial measures: Q1 2024 – Q2 2025 results Reconciliation of segment operating profit (loss) to operating profit (loss) and adjusted operating profit (loss) ($M) 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 2Q25 Americas $187.8 $285.1 $303.4 $321.5 $1,097.8 $259.7 $384.6 Asia Pacific 30.4 32.3 44.1 68.
Slide 20: Non-GAAP financial measures – organic net sales growth reconciliation
Non-GAAP financial measures – organic net sales growth reconciliation Reconciliation of change in net sales to organic change in net sales Organic Net Sales Δ FX Δ growth Organic Δ % 1 ($M | 2nd QUARTER 2025) Americas: $481.2 $3.5 $484.7 43.2% Asia Pacific: 151.1 (0.6) 150.5 36.8% EMEA: 53.0 (23.5)
Slide 21: Fourth quarter 2025 financial guidance
Fourth quarter 2025 financial guidance $Millions; deltas to midpoint of guidance range Adj. Diluted EPS Net Sales Adj. Operating Profit Adj. Operating Margin Up ~$0.24 Up ~$430M Up ~$150M Up ~210 bps Up ~24% vs. prior year Organic up ~16% vs. prior year Up ~30% vs. prior year $1.23 2,776 654 23.6% 2
Slide 22: Guidance assumptions
Guidance assumptions Tariff Assumptions $Millions unless otherwise specified • Table below summarizes changes to key tariff rate assumptions from April guidance.* 2H25 Assumption April July CNY / USD 7.17 Guidance Guidance Countries: USD / EUR $1.17 (1) China 145% 30% USD / GBP $1.37 Metals: INR / U
Slide 23: Additional information
Additional information $Millions Orders disclosure: Beginning 1Q26, we are evolving our approach to orders disclosure. Rather than providing quarterly updates, we will shift to annual reporting of order growth rates, book-to-bill ratio, and backlog. During 4Q25 earnings call, we will provide outlook
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