VRT - Why Data Infrastructure Company Vertiv's Shares Are Rocketing Today | Benzinga
Vertiv Holdings Co (NYSE:VRT) shares are trading higher after the company reported better-than-expected first-quarter FY24 results and raised its 2024 guidance.
Net sales rose 8% Y/Y to $1.64 billion, beating the consensus of $1.62 billion. Organic orders (excluding foreign exchange) rose 60% Y/Y, led by strong underlying market demand benefiting from the ramp-up of AI deployments.
The book-to-bill ratio stood at 1.5x in the quarter and had a $6.3 billion backlog at the end of the quarter.
Adjusted operating profit rose 42% Y/Y to $249 million, with adjusted operating ...