Vertiv earnings date and guidance
The next Vertiv results are expected on October 28, 2026. Watch whether Vertiv's project-timing and supply-chain delays became sales and cash.
What has Vertiv guided for 2026?
Vertiv’s weighted forecast reaches $250.95 in October 2029, a 21% return including dividends, if backlog converts into delivered projects, earnings and durable cash. Management guides to 2026 sales of $13,800–$14,200 million and 30%–32% organic sales growth. It expects a 23.3%–24.3% adjusted operating margin and $6.65–$6.75 adjusted diluted EPS. Adjusted free cash flow guidance is $2,400–$2,600 million, with capital expenditure at 4.0% of revenue.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Net sales | Full Year 2026 | 13,800 | 14,200 | Jul 29, 2026 |
| Organic net sales growth | Full Year 2026 | 30.0% | 32.0% | Jul 29, 2026 |
| Adjusted operating margin | Full Year 2026 | 23.3% | 24.3% | Jul 29, 2026 |
| Adjusted diluted EPS | Full Year 2026 | 6.65 | 6.75 | Jul 29, 2026 |
| Adjusted free cash flow | Full Year 2026 | 2,400 | 2,600 | Jul 29, 2026 |
| Net sales | Third Quarter 2026 | 3,650 | 3,850 | Jul 29, 2026 |
| Organic net sales growth | Third Quarter 2026 | 34.0% | 36.0% | Jul 29, 2026 |
| Adjusted operating margin | Third Quarter 2026 | 24.0% | 25.0% | Jul 29, 2026 |
| Adjusted diluted EPS | Third Quarter 2026 | 1.77 | 1.83 | Jul 29, 2026 |
| Net sales | Fourth Quarter 2026 | 4,225 | 4,425 | Jul 29, 2026 |
| Adjusted operating margin | Fourth Quarter 2026 | 25.3% | 26.3% | Jul 29, 2026 |
| Adjusted diluted EPS | Fourth Quarter 2026 | 2.17 | 2.23 | Jul 29, 2026 |
What this means. The company shows both adjusted earnings per share and regular diluted earnings per share because adjusted figures leave out certain costs, so they do not equal the company’s full reported profit per share.
Did Vertiv keep its past earnings promise?
Vertiv did beat a clear promise: it forecast 2025 adjusted earnings per share of US$3.50–US$3.60 and delivered US$4.20. Yet stock compensation rose to US$45.9 million from US$34.6 million, while diluted average shares rose 1.1% in 2025. The conclusion is mixed: operating delivery supports management, but ownership dilution and flexible reward rules leave shareholders with an important qualification.
What do Vertiv's last eight quarters show?
The current Q3 revenue consensus is $3.75 billion. Across the latest eight quarterly comparisons, Vertiv beat EPS forecasts every time. It beat revenue forecasts in six quarters and missed in two, including Q2. Forecasts extending into 2027 remain positive, but their value depends on rising shipments and cash, not merely on assuming that execution problems disappear.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,274.3 | 2,649.5 | 2,880.0 | 2,675.8 | 2,638.1 | 2,036.0 | 2,346.4 | 2,073.5 |
| Operating income | 637.9 | 440.1 | 579.9 | 516.7 | 442.4 | 290.7 | 457.2 | 371.6 |
| Net income | 497.8 | 390.1 | 445.6 | 398.5 | 324.2 | 164.5 | 147.0 | 176.6 |
| EPS, diluted | 1.27 | 0.99 | 1.14 | 1.02 | 0.83 | 0.42 | 0.38 | 0.46 |
| = Free cash flow | 925.3 | 652.8 | 909.9 | 436.0 | 277.0 | 264.5 | 361.8 | 335.9 |
What this means. Free cash flow also subtracts money spent on software, not just equipment and buildings, so it can be lower than a beginner expects.
What should I watch in Vertiv's next results?
Faster deliveries, successful commissioning and stronger service renewals support the bull case. Persistent delays, rising inventory and weakening cash conversion push toward the bear case. The Q3 2026 report, estimated for October 28, tests whether July’s project-timing and supply-chain delays became sales and cash. Johor’s full operationalization was expected in 2027; Slovakia’s expansion is planned to take 18–24 months.