Vertiv Holdings Plunges As Q4 Results, Outlook Below View

(RTTNews) - Shares of critical digital infrastructure technologies provider, Vertiv Holdings Co (VRT) are down more than 39% Wednesday morning after the company reported poor fourth-quarter results impacted by inflation and supply chain issues.

Vertiv's fourth-quarter results missed analysts' view, and first quarter outlook also came in below consensus estimates.

Net income in the fourth quarter declined to $22 million or $0.06 per share from $40.5 million or $0.12 per share a year ago.

Excluding one-time items, earnings were $0.04 per share, that missed the average estimate of 11 analysts polled by Thomson Reuters at $0.28 per share.

Vertiv reported fourth quarter net sales of $1.411 billion, an increase of 8% from last year, however, missed the consensus estimate of $1.42 billion.

For the first quarter, the company sees net sales to be in the range of $1.1 billion-$1.15 billion. It expects to report adjusted loss per share in the range of $0.20-$0.15 in the first quarter. Analysts see earnings of $0.23 per share and revenue of $1.27 billion.

For the full-year, net sales are expected between $5.5 billion and $5.8 billion and adjusted EPS in the range of $0.65-$0.75. The consensus estimate for earnings stands at $1.33 per share and for sales stands at $5.73 billion.

VRT touched a new low of $11.06 this morning, before edging up to $11.75 currently.