Vertiv Q3 Earnings: Sales Up 61% to $4.31B, Guidance Raised $650M

Vertiv Holdings reported third-quarter 2026 earnings with net sales of $4,312.8 million on Oct. 28, up 61.2% from a year earlier, and raised its full-year sales guidance by $650 million to a range of $14,450 million to $14,850 million.

Organic sales growth was 55.0%, with about 6 points coming from acquisitions, the company said in its results release. Chief executive Giordano Albertazzi cited more than 100% organic orders growth year over year, but the release gives no dollar figure for orders and no backlog number, so the size of the order book cannot be checked from this filing.

For data-center builders, the order growth matters more than the sales line. Vertiv supplies the power and thermal equipment that goes in around AI racks, and orders that doubled in a year point to capacity being committed well ahead of delivery. Vertiv did not say how much of that is liquid cooling, so the cooling share of the surge is unconfirmed. Voltgrid News reported earlier on Equinix's liquid-cooling test centers.

Where the sales came from

The Americas led, with net sales of $2,988.8 million, up 74.5% (66.2% organic) and an adjusted operating margin of 29.4%. Asia Pacific sales were $779.3 million, up 49.9% (48.3% organic), at a 17.0% margin. EMEA sales were $544.7 million, up 22.8% (19.3% organic), at 28.0%.

Adjusted operating profit was $1,086.9 million, a margin of 25.2%, up 290 basis points. Adjusted diluted earnings per share were $2.21, up 78%, and diluted EPS was $1.95, up 91%. Adjusted free cash flow reached $652.2 million, up 50%, and liquidity stood at $6.2 billion with a net cash position.

Guidance and capacity

For the fourth quarter, Vertiv guided net sales of $4,313 million to $4,513 million, with organic growth of 49% to 51%. For the full year it now expects adjusted diluted EPS of $7.10 to $7.20, an adjusted operating margin of 23.5% to 24.5% and adjusted free cash flow of $2,600 million to $2,800 million. Capital spending is expected at about 4.0% of revenue.

Management says it is expanding capacity, without quantifying it. Guidance is the company's own forecast, not a result.

What is not confirmed yet

The release does not state backlog, book-to-bill or any split between liquid cooling, power and other products. Those figures would show whether cooling orders are growing faster than the group. The company also gave no commentary on delivery timing in the text Voltgrid read, so how soon the orders turn into installed capacity is open.

Investor's Business Daily reported that the shares rose sharply after the results; Voltgrid has not verified the size of the move.