Upbeat Quarterly Results Sends Vertiv Shares Higher

(RTTNews) - Shares of Vertiv Holdings Co (VRT), a provider of equipment and services for data centers, are rising more than 7% Wednesday morning after reporting better-than-expected quarterly results.

Profit in the first quarter increased to $50.3 million from $8.5 million a year ago. EPS was $0.12 for the quarter, compared with a loss per share of $0.23 last year.

Excluding one-time items, earnings were $91.3 million or $0.24 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.17 per share.

Quarterly sales increased 32% to $1.521 billion. The consensus estimate was for $1.41 billion.

For the second quarter, sales are expected between $1.55 billion and $1.65 billion, and adjusted EPS between $0.25 - $0.31. Analysts see earnings at $0.27 per share and revenue at $1.61 billion.

For the full year, the company sees revenue in the range of $6.45 billion-$6.60 billion and adjusted EPS in the range of $1.22 - $1.32.

Analysts expect the company to report earnings of $1.19 per share on revenue of $6.49 billion for the year.

VRT is at $13.17 currently. It has traded in the range of $7.76-$17.88 in the last 1 year.