Why Vertiv Holdings Shares Are Booming Today

Vertiv Holdings VRT shares are trading higher after the company reported better-than-expected Q1 results and issued Q2 guidance.

What to Know: On Wednesday prior to market opening, Vertiv Holdings announced its Q1 results for the period ended March 31, 2023.

The company reported quarterly earnings of $0.24 per share compared to the analyst estimate of $0.17, representing a 41.2% positive earnings surprise. Vertiv reported quarterly sales of $1.52 billion compared to the analyst estimate of $1.41 billion, representing a positive earnings suprise of 7.9%.

Additionally, Vertiv Holdings provided guidance for Q2 2023. The company expects sales in the range of $1.55-$1.65 billion, compared to the analyst consensus estimate of $1.61 billion. The company expects earnings in the range of $0.25-$0.31 per share, compared to the analyst consensus estimate of $0.27 per share.

"These results reflect substantive progress in the Americas, where sales increased 61% and adjusted operating profit more than tripled, driven by continued gains in pricing and improvement in our operational execution across the business," noted CEO of Vertiv, Giordano Albertazzi.

Vertiv brings together hardware, software, analytics and ongoing services to enable its customers' vital applications to run continuously, perform optimally and grow with their business needs.

According to data from Benzinga Pro, Vertiv Holdings shares were up 10.3%, trading at $13.52 at the time of publication. The stock has a 52-week high of $17.88 and a 52-week low of $7.76.