Vertiv Q3 sales jump 61% as organic orders more than double
Vertiv Holdings Co reported third quarter 2026 net sales of $4,313 million, up 61% from a year earlier, and said organic orders grew by more than 100%. The data center infrastructure company raised its full year 2026 guidance across all key metrics.
- Q3 2026 net sales were $4,313 million, up 61%, with 55% organic growth.
- Organic orders grew by more than 100% year over year, according to Vertiv.
- Adjusted operating margin was 25.2%, up 290 basis points; adjusted diluted EPS rose 78% to $2.21.
- Full year net sales guidance was raised by $650 million to a midpoint of $14,650 million.
- Liquidity increased to $6.2 billion, with a net cash position.
Third quarter results
Vertiv (NYSE: VRT) said net sales rose by $1,637 million compared with the third quarter of 2025. According to the company, the increase reflected 55% organic sales growth and roughly 6% from acquisitions.
Growth was broad-based across regions. The Americas were up 75% (66% organic), APAC up 50% (48% organic) and EMEA up 23% (19% organic).
Operating profit came in at $984 million, up 90%, while adjusted operating profit reached $1,087 million, up 83%. Adjusted operating margin was 25.2%, which is 290 basis points higher than a year earlier. Vertiv attributed the margin gain to operational leverage on higher sales and manufacturing productivity, partly offset by mix impacts and continued growth investments.
Diluted EPS grew 91% to $1.95, and adjusted diluted EPS grew 78% to $2.21.
Cash flow and liquidity
Net cash generated by operating activities was $794 million, up 64%. Adjusted free cash flow was $652 million, up 50%. Vertiv said adjusted free cash flow was driven by higher adjusted operating profit, partially offset by increased working capital and higher capital expenditures to support growth.
Liquidity rose to $6.2 billion in the quarter, and the company said it maintains a net cash position. Capital expenditures for full year 2026 are still expected at approximately 4.0% of revenue.
Higher guidance for the rest of 2026
Vertiv raised its full year net sales guidance by $650 million, citing strong demand visibility, ongoing capacity investments and disciplined execution. The updated full year ranges are:
- Net sales of $14,450 million to $14,850 million, with a midpoint of $14,650 million
- Organic net sales growth of 37% to 39%
- Adjusted operating profit of $3,475 million to $3,555 million
- Adjusted operating margin of 23.5% to 24.5%
- Adjusted diluted EPS of $7.10 to $7.20
- Adjusted free cash flow of $2,600 million to $2,800 million
At the midpoint, Vertiv expects full year diluted EPS of $6.29, up 84%, and adjusted diluted EPS of $7.15, up 70%.
For the fourth quarter, the company guides to net sales of $4,313 million to $4,513 million and organic growth of 49% to 51%. Adjusted diluted EPS is expected between $2.22 and $2.28. At the midpoint, fourth quarter diluted EPS is $2.08, up 82%, and adjusted diluted EPS is $2.25, up 65%.
Management comments and what it means
Chief Executive Officer Giordano Albertazzi said, "We are in the middle of the largest infrastructure buildout and it's accelerating." He added that Vertiv is compressing new product development cycles "from years to months" and pointed to the more than 100% organic orders growth as evidence that customers are choosing the company.
Executive Chairman Dave Cote said he believes "there is a long runway ahead and the opportunity only gets bigger from here."
The figures show how strongly demand for data center power, cooling and IT infrastructure is feeding through to a supplier's results. Vertiv describes the data center market as generating strong, broad-based global demand and says it continues to expand capacity and invest in next-generation technology. Investors and customers can read the raised guidance as the company's own signal of confidence, though the outlook remains forward-looking and several measures are non-GAAP, with reconciliations provided in the full release.
