$VRT
Vertiv Holdings Co

2022 Q3 Form 10-Q Financial Statement

#000162828022020322 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.481B $1.399B $1.156B
YoY Change 20.52% 11.04% 5.28%
Cost Of Revenue $1.052B $1.028B $852.8M
YoY Change 24.15% 20.79% 15.18%
Gross Profit $429.3M $371.5M $303.6M
YoY Change 12.47% -9.24% -15.2%
Gross Profit Margin 28.99% 26.55% 26.25%
Selling, General & Admin $295.2M $287.6M $292.2M
YoY Change 14.51% 5.85% 16.83%
% of Gross Profit 68.76% 77.42% 96.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $75.70M $77.00M $17.90M
YoY Change 47.28% 43.93% 5.92%
% of Gross Profit 17.63% 20.73% 5.9%
Operating Expenses $350.6M $287.6M $292.2M
YoY Change 36.0% 5.85% 16.83%
Operating Profit $78.70M $26.20M -$45.20M
YoY Change -3.79% -74.36% -156.64%
Interest Expense -$48.80M $33.40M $29.30M
YoY Change -317.86% 67.0% 21.58%
% of Operating Profit -62.01% 127.48%
Other Income/Expense, Net
YoY Change
Pretax Income $31.40M $31.70M $20.40M
YoY Change -65.83% 188.18% -51.08%
Income Tax $10.20M $11.40M $11.90M
% Of Pretax Income 32.48% 35.96% 58.33%
Net Earnings $21.20M $20.30M $8.500M
YoY Change -62.28% 109.28% -73.19%
Net Earnings / Revenue 1.43% 1.45% 0.74%
Basic Earnings Per Share $0.06 $0.05 $0.02
Diluted Earnings Per Share $56.17K $0.05 -$0.23
COMMON SHARES
Basic Shares Outstanding 377.0M shares 376.6M shares 376.0M shares
Diluted Shares Outstanding 377.4M shares 377.3M shares 379.7M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $258.0M $194.4M $288.5M
YoY Change -65.3% -72.57% -57.4%
Cash & Equivalents $258.0M $194.4M $288.5M
Short-Term Investments
Other Short-Term Assets $167.7M $148.4M $126.7M
YoY Change 8.61% -31.04% -30.92%
Inventory $804.3M $794.6M $774.5M
Prepaid Expenses
Receivables $1.744B $1.676B $1.534B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.974B $2.814B $2.724B
YoY Change 3.92% -1.26% 2.17%
LONG-TERM ASSETS
Property, Plant & Equipment $466.0M $473.8M $485.3M
YoY Change 19.98% 15.79% 17.51%
Goodwill $1.247B $1.284B $1.318B
YoY Change 111.91% 112.88% 119.69%
Intangibles $1.802B $1.926B $2.055B
YoY Change 51.23% 55.94% 62.76%
Long-Term Investments
YoY Change
Other Assets $338.3M $280.8M $277.1M
YoY Change 56.26% 28.4% 37.45%
Total Long-Term Assets $3.853B $4.014B $4.187B
YoY Change 60.54% 61.67% 67.8%
TOTAL ASSETS
Total Short-Term Assets $2.974B $2.814B $2.724B
Total Long-Term Assets $3.853B $4.014B $4.187B
Total Assets $6.827B $6.827B $6.911B
YoY Change 29.75% 28.04% 33.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $882.9M $867.2M $887.5M
YoY Change 14.84% 13.15% 20.29%
Accrued Expenses $900.3M $916.7M $972.3M
YoY Change 9.05% 2.17% 11.86%
Deferred Revenue $278.7M $281.4M $293.9M
YoY Change 18.9% 21.77% 26.35%
Short-Term Debt $16.80M $17.90M $0.00
YoY Change
Long-Term Debt Due $21.80M $21.80M $21.80M
YoY Change 0.0% 0.0% -0.91%
Total Short-Term Liabilities $1.838B $1.820B $1.904B
YoY Change 11.63% 6.41% 15.7%
LONG-TERM LIABILITIES
Long-Term Debt $3.224B $3.118B $2.946B
YoY Change 52.18% 46.86% 38.53%
Other Long-Term Liabilities $345.6M $342.1M $357.4M
YoY Change -28.62% -30.51% -21.47%
Total Long-Term Liabilities $3.569B $3.460B $3.304B
YoY Change 37.15% 32.29% 27.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.838B $1.820B $1.904B
Total Long-Term Liabilities $3.569B $3.460B $3.304B
Total Liabilities $5.560B $5.475B $5.457B
YoY Change 24.22% 19.33% 23.11%
SHAREHOLDERS EQUITY
Retained Earnings -$1.165B -$1.187B -$1.207B
YoY Change -5.53% -8.0% -7.13%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.267B $1.352B $1.454B
YoY Change
Total Liabilities & Shareholders Equity $6.827B $6.827B $6.911B
YoY Change 29.75% 28.04% 33.9%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $21.20M $20.30M $8.500M
YoY Change -62.28% 109.28% -73.19%
Depreciation, Depletion And Amortization $75.70M $77.00M $17.90M
YoY Change 47.28% 43.93% 5.92%
Cash From Operating Activities $4.400M -$205.7M -$132.2M
YoY Change -91.91% -446.88% -317.79%
INVESTING ACTIVITIES
Capital Expenditures -$24.80M -$26.70M $15.10M
YoY Change 45.88% 49.16% -10.12%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$5.000M
YoY Change -100.0%
Cash From Investing Activities -$24.80M -$31.70M -$18.20M
YoY Change 127.52% 77.09% 1.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 91.20M 155.0M -$1.500M
YoY Change -1853.85% -1483.93% -101.46%
NET CHANGE
Cash From Operating Activities 4.400M -205.7M -$132.2M
Cash From Investing Activities -24.80M -31.70M -$18.20M
Cash From Financing Activities 91.20M 155.0M -$1.500M
Net Change In Cash 70.80M -82.40M -$150.6M
YoY Change 84.86% -372.85% -205.61%
FREE CASH FLOW
Cash From Operating Activities $4.400M -$205.7M -$132.2M
Capital Expenditures -$24.80M -$26.70M $15.10M
Free Cash Flow $29.20M -$179.0M -$147.3M
YoY Change -59.1% -331.87% -435.54%

Facts In Submission

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<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(1) DESCRIPTION OF BUSINESS</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Vertiv Holdings Co (“Holdings Co”, and together with its majority-owned subsidiaries, “Vertiv”, “we”, “our”, or “the Company”), formerly known as GS Acquisition Holdings Corp, provides mission-critical infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. Vertiv’s offerings include AC and DC power management products, thermal management products, integrated rack systems, modular solutions, management systems for monitoring and controlling digital infrastructure, and service. Vertiv manages and reports results of operations for three reportable segments: Americas; Asia Pacific; and Europe, Middle East &amp; Africa.</span></div>
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