$VRT
Vertiv Holdings Co

2023 Q4 Form 10-Q Financial Statement

#000162828023035351 Filed on October 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $1.865B $1.743B
YoY Change 12.74% 17.66%
Cost Of Revenue $1.182B $1.115B
YoY Change 3.42% 6.01%
Gross Profit $683.4M $627.6M
YoY Change 33.55% 46.19%
Gross Profit Margin 36.64% 36.02%
Selling, General & Admin $348.8M $327.2M
YoY Change 15.0% 10.84%
% of Gross Profit 51.04% 52.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.90M $68.20M
YoY Change -2.27% -9.91%
% of Gross Profit 10.08% 10.87%
Operating Expenses $390.4M $327.2M
YoY Change 12.57% -6.67%
Operating Profit $293.0M $250.9M
YoY Change 77.68% 218.81%
Interest Expense -$100.1M $43.50M
YoY Change 23.89% -189.14%
% of Operating Profit -34.16% 17.34%
Other Income/Expense, Net
YoY Change
Pretax Income $187.3M $145.8M
YoY Change 124.31% 364.33%
Income Tax -$45.30M $51.70M
% Of Pretax Income -24.19% 35.46%
Net Earnings $232.6M $94.10M
YoY Change 774.44% 343.87%
Net Earnings / Revenue 12.47% 5.4%
Basic Earnings Per Share $0.25
Diluted Earnings Per Share $0.60 $0.24
COMMON SHARES
Basic Shares Outstanding 381.4M shares 380.5M shares
Diluted Shares Outstanding 388.2M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $780.4M $500.0M
YoY Change 199.46% 93.8%
Cash & Equivalents $780.4M $500.0M
Short-Term Investments
Other Short-Term Assets $151.6M $178.6M
YoY Change -19.06% 6.5%
Inventory $884.3M $921.7M
Prepaid Expenses
Receivables $2.185B $2.021B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.002B $3.621B
YoY Change 26.68% 21.76%
LONG-TERM ASSETS
Property, Plant & Equipment $560.1M $508.6M
YoY Change 14.45% 9.14%
Goodwill $1.330B $1.284B
YoY Change 3.55% 2.97%
Intangibles $1.673B $1.674B
YoY Change -7.89% -7.08%
Long-Term Investments
YoY Change
Other Assets $100.4M $122.5M
YoY Change -25.07% -63.79%
Total Long-Term Assets $3.997B $3.793B
YoY Change 1.52% -1.55%
TOTAL ASSETS
Total Short-Term Assets $4.002B $3.621B
Total Long-Term Assets $3.997B $3.793B
Total Assets $7.999B $7.414B
YoY Change 12.72% 8.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $986.4M $931.9M
YoY Change 0.24% 5.55%
Accrued Expenses $611.8M $555.4M
YoY Change -29.87% -38.31%
Deferred Revenue $638.9M $543.3M
YoY Change 106.5% 94.94%
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $21.80M $21.80M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $2.305B $2.102B
YoY Change 21.47% 14.31%
LONG-TERM LIABILITIES
Long-Term Debt $2.919B $2.923B
YoY Change -7.89% -9.33%
Other Long-Term Liabilities $262.0M $231.6M
YoY Change 19.31% -32.99%
Total Long-Term Liabilities $3.181B $3.155B
YoY Change -6.13% -11.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.305B $2.102B
Total Long-Term Liabilities $3.181B $3.155B
Total Liabilities $5.984B $5.700B
YoY Change 5.83% 2.53%
SHAREHOLDERS EQUITY
Retained Earnings -$691.9M -$915.0M
YoY Change -39.45% -21.49%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.015B $1.714B
YoY Change
Total Liabilities & Shareholders Equity $7.999B $7.414B
YoY Change 12.72% 8.6%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $232.6M $94.10M
YoY Change 774.44% 343.87%
Depreciation, Depletion And Amortization $68.90M $68.20M
YoY Change -2.27% -9.91%
Cash From Operating Activities $356.2M $248.7M
YoY Change 97.12% 5552.27%
INVESTING ACTIVITIES
Capital Expenditures $51.10M $27.40M
YoY Change 23.73% -210.48%
Acquisitions
YoY Change
Other Investing Activities -$16.90M $0.00
YoY Change -533.33%
Cash From Investing Activities -$68.00M -$27.40M
YoY Change 81.82% 10.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.80M 7.200M
YoY Change -92.53% -92.11%
NET CHANGE
Cash From Operating Activities 356.2M 248.7M
Cash From Investing Activities -68.00M -27.40M
Cash From Financing Activities -10.80M 7.200M
Net Change In Cash 277.4M 228.5M
YoY Change -23216.67% 222.74%
FREE CASH FLOW
Cash From Operating Activities $356.2M $248.7M
Capital Expenditures $51.10M $27.40M
Free Cash Flow $305.1M $221.3M
YoY Change 118.87% 657.88%

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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:120%">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 services. 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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