Vertiv Posts 22.5% Revenue Growth to $2.88B, Backlog Soars 109%
Vertiv posted quarterly revenue of $2.88 billion, up 22.5% year-over-year, and delivered earnings per share of $1.36, surpassing estimates. Its $15 billion backlog, up 109% year-over-year, underscores robust demand for AI data-center cooling systems as shares jumped 18% on the report.
1. Quarterly Earnings Beat
Vertiv delivered revenue of $2.88 billion in the quarter, marking a 22.5% increase year-over-year, while earnings per share reached $1.36, outpacing consensus estimates and highlighting the company’s ability to capitalize on accelerating demand in its target markets.
2. Backlog Growth Signals Demand
The company’s backlog climbed to $15 billion, a 109% year-over-year surge, driven by orders for advanced cooling and power infrastructure essential to AI data centers, reflecting robust customer commitments and long-term revenue visibility.
3. Stock Rally and Valuation Concerns
Shares of Vertiv jumped 18% following the results, but some analysts warn that the stock’s sharp run-up may leave it vulnerable to a near-term pullback if future execution or broader market sentiment falters.