EarningsQ2 2026 Earnings Report
MX:VRT Q2 2026 EPS Results
Actual EPS$25.80
Consensus EPS$24.14
Beat/MissBeat by +$1.66
One Year Ago EPS$16.13
MX:VRT Q2 2026 Revenue Results
Actual Revenue$55.59B
Expected Revenue$57.36B
Beat/MissMissed by -$1.78B
YoY Revenue Growth+24.12%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:VRT Upcoming Earnings
Vertiv Holdings's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:VRT Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call was strongly positive: Vertiv delivered robust top-line growth, sizable margin expansion, materially higher profits and exceptional free cash flow, and the company upgraded guidance across all key metrics. Management highlighted broad-based demand, capacity investments, strategic M&A, and multiple technology validations (including early 800V DC work). The primary negatives are timing variability from complex, multi-phase projects and supply-chain interdependencies (causing some Q2 revenue pushouts), plus localized EMEA organic weakness and tariff/capex/tax headwinds. Management presented these as manageable operational issues with a clear learning curve and retained confidence in H2 execution.Company Guidance
Strong Revenue Growth and Upgraded Guidance
Q2 net sales of $3.274B, up 24% year-over-year; organic net sales growth of 18% (additional 5% from acquisitions, 1% FX). Company raised full-year 2026 net sales guidance to $14.0B (up 37% versus 2025 and +$250M vs prior guidance). Q3 midpoints also call for ~40% YoY sales growth.
Significant Margin Expansion and Profitability Improvement
Adjusted operating margin of 22.6% in Q2, expanding 410 basis points YoY and 140 bps above guidance. Adjusted operating profit of $738M, up 51% YoY. Adjusted diluted EPS of $1.52 in the quarter, up 60% YoY (and $0.12 above guidance). Full-year adjusted diluted EPS guidance raised to $6.70, +60% YoY; full-year adjusted operating profit guidance ~$3.325B, up ~59% YoY.
Outstanding Free Cash Flow and Strong Balance Sheet
Adjusted free cash flow of $925M in Q2, up 234% YoY and delivering free cash flow conversion above 150% for the quarter. Full-year adjusted free cash flow guidance raised to $2.5B (up 182% YoY). Company reported a net cash position at quarter end and net leverage of negative 0.1x.
Broad Regional Strength (Americas and APAC)
Americas net sales $2.071B, up 29% YoY (21% organic). APAC net sales $720M, up 29% YoY (26% organic). Company reports accelerating pipeline momentum across regions and expects continued organic growth in H2.
Investments in Capacity and Product Roadmap
Capacity expansions coming online globally (Johor, Malaysia; five large plant expansions in Americas; chiller capacity increases in EMEA). Capital expenditures expected at the high end (~4% of 2026 sales) to support long-term growth in power architecture, advanced thermal systems, services and converged infrastructure for next-generation AI data centers.
Technology Wins, M&A and Strategic Partnerships
Closed Thermo King and Thermal-Lube acquisitions to strengthen heat-rejection and server-side liquid cooling capabilities. Notable customer wins and collaborations include NVIDIA/VisionBay AI (Taiwan AI data center using NVIDIA GB300 and early 800V DC validation) and a repeatable Vertiv smart IT deployment with the Naval Postgraduate School. Launched/validated offerings like PurgeRite near-zero (reduces startup water use by up to 90%).
MX:VRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed