Vertiv Holdings Posts $390.1M Profit in Q1 2026 on 30% Revenue Jump
Vertiv Holdings Co (NYSE: VRT), a critical infrastructure technology provider, reported net income of $390.1 million for the first quarter of 2026, more than doubling the $164.5 million earned in the same period last year.
Vertiv Holdings Co (NYSE: VRT), a critical infrastructure technology provider, reported net income of $390.1 million for the first quarter ended March 31, 2026, more than doubling the $164.5 million earned in the same period last year. Diluted earnings per share rose to $0.99 from $0.42. Read more earnings reports.
Revenue climbed 30% to $2.65 billion for the three months ended March 31, 2026, compared with $2.04 billion in the first quarter of 2025. Operating income surged 51% to $440.1 million from $290.7 million a year earlier.
The Delaware-incorporated company generated $766.8 million in cash from operations during the quarter, up sharply from $303.3 million in the prior-year period. Cash and cash equivalents stood at $2.15 billion as of March 31, 2026, up from $1.73 billion at year-end 2025.
Cost of goods sold increased to $1.65 billion from $1.35 billion, while selling, general and administrative expenses rose to $456.7 million from $346.3 million. Research and development spending climbed to $75.6 million from $50.3 million in the year-ago quarter.
Vertiv reported a net interest benefit of $4.4 million for the quarter, reversing from interest expense of $25.3 million in the first quarter of 2025. Income tax expense totaled $48.2 million, down from $100.9 million a year earlier.
Total assets reached $13.40 billion as of March 31, 2026, up from $12.21 billion at the end of 2025. Stockholders' equity increased to $4.24 billion from $3.94 billion over the same period.
The company's balance sheet showed inventory of $1.83 billion, up from $1.46 billion at year-end, while accounts receivable edged up to $3.15 billion from $3.11 billion. Long-term debt stood at $2.92 billion compared with $2.89 billion at December 31, 2025.
Vertiv paid dividends of $23.9 million during the quarter, up from $14.2 million in the first quarter of 2025. The company had 384.0 million shares outstanding as of the period end.
First Quarter Financial Summary
| Metric | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $2.65 billion | $2.04 billion | +30% |
| Operating Income | $440.1 million | $290.7 million | +51% |
| Net Income | $390.1 million | $164.5 million | +137% |
| Diluted EPS | $0.99 | $0.42 | +136% |
| Cash from Operations | $766.8 million | $303.3 million | +153% |
Balance Sheet Highlights
| Item | March 31, 2026 | December 31, 2025 |
|---|---|---|
| Total Assets | $13.40 billion | $12.21 billion |
| Cash & Equivalents | $2.15 billion | $1.73 billion |
| Total Liabilities | $9.16 billion | $8.27 billion |
| Stockholders' Equity | $4.24 billion | $3.94 billion |
| Long-Term Debt | $2.92 billion | $2.89 billion |