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Vertiv

VRT Q1 2025 Earnings

Reported Apr 23, 2025 at 6:01 AM ET · SEC Source

Q1 25 EPS

$0.64

Q1 25 Revenue

$2.04B

vs S&P Since Q1 25

+272.2%

BEATING MARKET

VRT +306.8% vs S&P +34.6%

Market Reaction

Did VRT Beat Earnings? Q1 2025 Results

Vertiv delivered a standout first quarter in 2025, as surging AI infrastructure demand powered net sales 24% higher year-over-year to $2.04 billion, with adjusted diluted EPS climbing approximately 49% to $0.64, reflecting the accelerating need for h… Read more Vertiv delivered a standout first quarter in 2025, as surging AI infrastructure demand powered net sales 24% higher year-over-year to $2.04 billion, with adjusted diluted EPS climbing approximately 49% to $0.64, reflecting the accelerating need for high-density power and cooling solutions inside modern data centers. Organic net sales growth of 25% underscored the breadth of the momentum, while a book-to-bill ratio of roughly 1.4x and backlog swelling 25% to $7.90 billion signal that demand remains well ahead of current output. Adjusted operating margin expanded 130 basis points to 16.5%, driven by operational leverage and price-cost tailwinds, and free cash flow surged to $264.50 million, up $163.50 million from a year earlier. Management raised full-year 2025 net sales guidance by $250 million at the midpoint to a range of $9.32 billion to $9.57 billion, while maintaining adjusted diluted EPS guidance of $3.45 to $3.65, expressing confidence that tariff headwinds will progressively ease through the year as Vertiv's diversified manufacturing footprint and commercial strategies take hold.

Key Takeaways

  • • 24% year-over-year net sales growth driven by strong data center and AI infrastructure demand
  • • Organic net sales growth of 25%
  • • Adjusted operating margin expanded 130 basis points to 16.5% from operational leverage, price-cost tailwinds and productivity
  • • TTM orders growth of ~20% demonstrating continued robust market demand
  • • Book-to-bill ratio of ~1.4x with backlog of $7.9 billion
  • • Trade working capital improvements and lower interest expense driving strong free cash flow
24/7 Wall St

VRT YoY Financials

Q1 2025 vs Q1 2024, source: SEC Filings

24/7 Wall St

VRT Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26
24/7 Wall St

VRT Revenue by Geography

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“Vertiv's strong first quarter results demonstrate our continued momentum and reinforce our position for long-term sustainable growth. We continue to see accelerated scaling of AI deployments across the data center market, with strong demand signals reinforcing both our near- and long-term growth outlook. The iGenius project, which involves delivering a complete AI infrastructure solution for one of Italy's leading AI technology companies, demonstrates our ability to rapidly deploy prefabricated AI solutions at scale. This project includes advanced cooling systems and power infrastructure specifically designed for high-density AI computing environments. Our partnership with NVIDIA and our reference designs for their GB200 and GB300 NVL72 platforms position Vertiv at the forefront of AI factory deployment at industrial scale. Assuming tariff rates on April 22, 2025 remain constant through year-end, we believe that our diverse manufacturing footprint, operational flexibility, and commercial strategies will progressively lessen the tariff impact as the year progresses. Although the tariff environment remains fluid, our goal is to significantly mitigate the effect of tariffs as we enter 2026.”

— Giordano Albertazzi, Q1 2025 Earnings Press Release

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