Company: VRT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001674101-25-000008
Chunk: 57

Company: Vertiv Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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,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)Income tax expense197.8 79.5 118.3 148.8 Net income (loss)$488.7 $172.2 $316.5 183.8 %

Net Sales

Net sales were $4,674.1 in the first six months of 2025, an increase of $1,082.2, or 30.1%, compared with $3,591.9 in the first six months of 2024. The increase in sales was primarily driven by higher sales volumes including the positive impacts from foreign currency of $3.2. Product sales increased $975.3, which included the positive impacts from foreign currency of $6.8. Services & spares sales increased $106.9, which included negative impacts from foreign currency of $3.6.

Excluding intercompany sales, net sales were $2,787.6 in the Americas, $1,007.4 in Asia Pacific and $879.1 in Europe, Middle East & Africa. Movements in net sales by segment and offering are each detailed in the Business Segments section below.

Cost of Sales 

Cost of sales were $3,091.0 in the first six months of 2025, an increase of