Vertiv Holdings Expects Q4 Profit To Beat Estimates, Ups Annual Outlook Above View

Vertiv Holdings Co. raised its annual outlook on Thursday after reporting fiscal fourth-quarter earnings that beat analysts' estimates

The power equipment maker said it now expects full-year profit between $1.95 per share and $2 per share, up from its prior forecast range of $1.85 per share to $1.95 per share.

Analysts on average had estimated full-year earnings of $1.93 per share, according to Refinitiv data.

Vertiv shares rose 6% to $22.02 in premarket trading.

The company reported net income of $106 million, or $1.23 per share, for the three months ended Dec. 31, compared with a loss of $208 million, or $2.43 per share, a year earlier.

Excluding items, Vertiv earned $1.44 per share, topping analysts' average estimate of $1.37 per share, according to Refinitiv data.

Revenue rose to $1.54 billion from $1.39 billion a year earlier, while analysts had estimated $1.52 billion.

Vertiv said it expects first-quarter revenue of $1.45 billion to $1.5 billion, compared with analysts' average estimate of $1.46 billion, according to Refinitiv data.

The company also said it expects full-year 2023 revenue between $6.4 billion and $6.6 billion, up from its prior forecast range of $6.2 billion to $6.4 billion.