Vertiv Q4 Revenue $2.88B Up 22.5%, EPS $1.36 Beats Estimates; Backlog Soars to $15B
Vertiv reported Q4 revenue of $2.88 billion, up 22.5% year-over-year, and adjusted EPS of $1.36, exceeding forecasts by $0.07. The company logged fourth-quarter orders up 252% YoY, lifted its backlog to $15 billion and guided 2026 revenue to $13.25–13.75 billion with adjusted EPS of $5.97–6.07.
1. Q4 Performance Exceeds Estimates
Vertiv delivered fourth-quarter revenue of $2.88 billion, just shy of projections, yet registered a 22.5% YoY increase. Adjusted EPS of $1.36 beat the consensus by $0.07, fueling a premarket stock jump of 12% and midday gains exceeding 18%.
2. Record Orders and Backlog Growth
The company reported organic orders growth of 252% YoY in Q4, with a book-to-bill ratio near 2.9x. A robust equipment and service pipeline lifted total backlog to $15 billion, up 109% year-over-year and 57% sequentially.
3. Robust 2026 Forecast
Vertiv forecasted 2026 revenue between $13.25 billion and $13.75 billion, with adjusted EPS of $5.97–6.07. Management noted pricing gains above inflation in 2025 and expects this trend to continue into next year, underpinned by persistent AI infrastructure demand.