$VRT
Vertiv Holdings Co

2024 Q2 Form 10-Q Financial Statement

#000162828024018417 Filed on April 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $1.953B $1.639B $1.521B
YoY Change 12.61% 7.76% 31.54%
Cost Of Revenue $1.212B $1.073B $1.026B
YoY Change 6.27% 4.59% 20.26%
Gross Profit $741.2M $566.4M $495.5M
YoY Change 24.78% 14.31% 63.21%
Gross Profit Margin 37.96% 34.56% 32.58%
Selling, General & Admin $363.8M $314.0M $308.7M
YoY Change 11.05% 1.72% 5.65%
% of Gross Profit 49.08% 55.44% 62.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.40M $68.70M $17.70M
YoY Change 1.63% 288.14% -1.12%
% of Gross Profit 9.23% 12.13% 3.57%
Operating Expenses $407.5M $360.3M $308.7M
YoY Change 9.66% 16.72% 5.65%
Operating Profit $333.7M $206.1M $130.3M
YoY Change 50.04% 58.17% -388.27%
Interest Expense -$70.40M -$218.8M $46.80M
YoY Change -29.88% -567.52% 59.73%
% of Operating Profit -21.1% -106.16% 35.92%
Other Income/Expense, Net
YoY Change
Pretax Income $264.7M -$13.00M $87.70M
YoY Change 134.46% -114.82% 329.9%
Income Tax $86.60M -$7.100M $37.40M
% Of Pretax Income 32.72% 42.65%
Net Earnings $178.1M -$5.900M $50.30M
YoY Change 114.06% -111.73% 491.76%
Net Earnings / Revenue 9.12% -0.36% 3.31%
Basic Earnings Per Share $0.48 -$0.02 $0.13
Diluted Earnings Per Share $0.46 -$0.02 $0.12
COMMON SHARES
Basic Shares Outstanding 374.3M shares 382.0M shares 377.6M shares
Diluted Shares Outstanding 384.5M shares 379.1M shares 381.7M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $579.7M $275.8M $276.1M
YoY Change 110.88% -0.11% -4.3%
Cash & Equivalents $579.7M $275.8M $276.1M
Short-Term Investments
Other Short-Term Assets $289.2M $271.8M $169.1M
YoY Change 80.07% 60.73% 33.46%
Inventory $1.104B $987.1M $903.5M
Prepaid Expenses
Receivables $2.219B $2.097B $1.992B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.191B $3.632B $3.341B
YoY Change 24.07% 8.72% 22.64%
LONG-TERM ASSETS
Property, Plant & Equipment $751.1M $750.4M $496.4M
YoY Change 13.22% 51.17% 2.29%
Goodwill $1.322B $1.323B $1.295B
YoY Change 1.73% 2.12% -1.69%
Intangibles $1.578B $1.616B $1.787B
YoY Change -9.69% -9.59% -13.04%
Long-Term Investments
YoY Change
Other Assets $266.3M $270.5M $117.5M
YoY Change 57.85% 130.21% -57.6%
Total Long-Term Assets $3.917B $3.960B $3.915B
YoY Change 1.0% 1.14% -6.5%
TOTAL ASSETS
Total Short-Term Assets $4.191B $3.632B $3.341B
Total Long-Term Assets $3.917B $3.960B $3.915B
Total Assets $8.108B $7.591B $7.255B
YoY Change 11.74% 4.63% 4.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.098B $983.7M $917.0M
YoY Change 16.59% 7.27% 3.32%
Accrued Expenses $600.6M $541.8M $496.4M
YoY Change 11.55% 9.15% -48.95%
Deferred Revenue $888.8M $735.0M $502.9M
YoY Change 70.92% 46.15% 71.11%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $21.20M $21.20M $21.80M
YoY Change -2.75% -2.75% 0.0%
Total Short-Term Liabilities $3.080B $2.710B $1.972B
YoY Change 49.83% 37.45% 3.56%
LONG-TERM LIABILITIES
Long-Term Debt $2.914B $2.916B $3.156B
YoY Change -0.47% -7.6% 7.12%
Other Long-Term Liabilities $418.4M $417.4M $223.1M
YoY Change -2.9% 87.09% -37.58%
Total Long-Term Liabilities $3.332B $3.334B $3.379B
YoY Change -0.78% -1.35% 2.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.080B $2.710B $1.972B
Total Long-Term Liabilities $3.332B $3.334B $3.379B
Total Liabilities $6.571B $6.198B $5.705B
YoY Change 17.37% 8.65% 4.54%
SHAREHOLDERS EQUITY
Retained Earnings -$538.4M -$707.1M -$1.092B
YoY Change -46.65% -35.27% -9.5%
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 $1.538B $1.393B $1.551B
YoY Change
Total Liabilities & Shareholders Equity $8.108B $7.591B $7.255B
YoY Change 11.74% 4.63% 4.98%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $178.1M -$5.900M $50.30M
YoY Change 114.06% -111.73% 491.76%
Depreciation, Depletion And Amortization $68.40M $68.70M $17.70M
YoY Change 1.63% 288.14% -1.12%
Cash From Operating Activities $378.4M $137.5M $42.00M
YoY Change 49.21% 227.38% -131.77%
INVESTING ACTIVITIES
Capital Expenditures $45.00M $36.50M $27.80M
YoY Change 71.1% 31.29% 84.11%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $12.40M
YoY Change -100.0%
Cash From Investing Activities -$45.00M -$36.50M -$17.40M
YoY Change 71.1% 109.77% -4.4%
FINANCING ACTIVITIES
Cash Dividend Paid $9.300M $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.50M -603.1M -$18.80M
YoY Change -90.89% 3107.98% 1153.33%
NET CHANGE
Cash From Operating Activities 378.4M 137.5M $42.00M
Cash From Investing Activities -45.00M -36.50M -$17.40M
Cash From Financing Activities -20.50M -603.1M -$18.80M
Net Change In Cash 312.9M -502.1M $7.600M
YoY Change 14122.73% -6706.58% -105.05%
FREE CASH FLOW
Cash From Operating Activities $378.4M $137.5M $42.00M
Capital Expenditures $45.00M $36.50M $27.80M
Free Cash Flow $333.4M $101.0M $14.20M
YoY Change 46.68% 611.27% -109.64%

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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 (“GSAH”), provides mission-critical digital infrastructure technologies and life cycle services primarily for data centers, communication networks, and commercial and industrial environments. Vertiv’s offerings include AC and DC power management products, switchgear and busbar 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 business segments: Americas; Asia Pacific; and Europe, Middle East &amp; Africa.</span></div>
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vrt-20240331.htm Edgar Link pending
vrt-20240331.xsd Edgar Link pending
vrt-20240331_def.xml Edgar Link unprocessable
vrt-20240331_lab.xml Edgar Link unprocessable
vrt-20240331_pre.xml Edgar Link unprocessable
vrt-20240331_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable
vrt-20240331_cal.xml Edgar Link unprocessable