Company: VRT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001674101-25-000008
Chunk: 118

Company: Vertiv Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 118
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 profit (loss) in the second quarter of 2025 was $104.2, a decrease of $5.3 compared with the second quarter of 2024. Margin decreased primarily due to the mix of product and service sales and operational inefficiencies.

Vertiv Corporate and Other

Corporate and other costs include costs associated with our headquarters located in Westerville, Ohio, as well as centralized global functions including Finance, Treasury, Risk Management, Strategy & Marketing, IT, Legal, Human Resources, and global product platform development and offering management. Total corporate and other costs were $58.7 and $45.1 in the second quarter of 2025 and 2024, respectively. Total corporate and other costs increased $13.6 compared to the second quarter of 2024 primarily due to an increase of certain employee related costs and an increase in the foreign currency loss of $2.1.

25

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

(Dollars in millions)Six months ended June 30, 2025Six months ended June 30, 2024$ Change% ChangeNet sales$4,674.1 $3,591.9 $1,082.2 30.1 %Cost of sales3,091.0 2,284.3 806.7 35.3 Gross profit1,583.1 1,307.6 275.5 21.1 Selling, general and administrative expenses741.9 677.8 64.1 9.5 Amortization of intangibles92.9 91.8 1.1 1.2 Restructuring costs3.0 (2.2)5.2 236.4 Foreign currency (gain) loss, net4.9 3.4 1.5 44.1 Other operating expense (income)7.3 (1.8)9.1 505.6 Operating profit (loss)733.1 538.6 194.5 36.1 Interest expense, net46.6 83.8 (37.2)(44.4)Loss on extinguishment of debt— 1.1 (1.1)(100.0)Change in fair value of warrant liabilities— 202.0 (202.0)(100.0)