Digital Infrastructure Provider Vertiv Raises FY23 Guidance: Details

Vertiv Holdings Co VRT has increased FY23 guidance as it continues to see strong market demand for its critical digital infrastructure products and services.

VRT raised FY23 net sales guidance from $6.826 billion - $6.851 billion to $6.875 billion - $6.895 billion versus an estimate of $6.85 billion.

The organic net sales growth has been raised from 20.9% - 21.4% to 21.9% - 22.3%.

The company sees adjusted EPS of $1.72 - $1.76 (previously $1.69 - $1.73) versus an estimate of $1.72.

Vertiv raised adjusted operating profit outlook from $1.02 billion - $1.03 billion to $1.035 billion - $1.045 billion.

The company also said effective today, its Board of Directors approved a share repurchase program for up to $3 billion of common stock over the next four years.

Vertiv's Board has declared an increase in the company's annual cash dividend for 2023 to $0.025 per share, payable on December 27, 2023, to shareholders of record on December 11, 2023.

Price Action: VRT shares are trading lower by 1.517% at $41.61 on the last check Wednesday.

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