Company: VRT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001674101-25-000008
Chunk: 52

Company: Vertiv Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 heat re-use. Our investment and expansion efforts are directed at capturing new technologies across the entire thermal chain from chip to heat rejection and re-use and more to meet growing demands. Further, we are focused on the continued growth and expansion of our portfolio geographically, as we leverage our best-in-class regional products and expand such offerings into other regions and globally. 

•Recent U.S. Tax Legislation: On July 4, 2025, H.R.1, also known as the One Big Beautiful Bill Act or "OBBBA", was enacted into law in the U.S. OBBBA extends some existing tax provisions set to expire beginning in 2026 while introducing or repealing other tax provisions. We are currently evaluating the impact of the enacted changes, but based on legislative and administrative guidance issued to date, the impact of these changes to the Company's financial position is not expected to be material.

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RESULTS OF OPERATIONS 

Comparison of the Three Months Ended June 30, 2025 and Three Months Ended June 30, 2024

(Dollars in millions)Three months ended June 30, 2025Three months ended June 30, 2024$ Change% ChangeNet sales$2,638.1 $1,952.8 $685.3 35.1 %Cost of sales1,741.5 1,211.6 529.9 43.7 Gross profit896.6 741.2 155.4 21.0 Selling, general and administrative expenses395.6 363.8 31.8 8.7 Amortization of intangibles46.9 45.8 1.1 2.4 Restructuring costs1.9 (2.5)4.4 176.0 Foreign currency (gain) loss, net2.3 0.2 2.1 1,050.0 Other operating expense (income)7.5 (2.1)9.6 457.1 Operating profit (loss)442.4 336.0 106.4 31.7 Interest expense, net21.3 44.8 (23.5)(52.5)Loss on extinguishment of debt— 1.1 (1.1)(100.0)Change in fair value of warrant liabilities— 25.4 (25.4)(100.