Company: VRT
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001628280-25-019372
Chunk: 20

Company: Vertiv Holdings Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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PART I. FINANCIAL INFORMATION 

ITEM 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)

VERTIV HOLDINGS CO

(Dollars in millions except for per share data)Three months ended March 31, 2025Three months ended March 31, 2024Net salesNet sales - products$1,649.7 $1,270.3 Net sales - services386.3 368.8 Net sales2,036.0 1,639.1 Costs and expensesCost of sales - products1,112.1 846.3 Cost of sales - services237.4 226.4 Cost of sales1,349.5 1,072.7 Operating expensesSelling, general and administrative expenses346.3 314.0 Amortization of intangibles46.0 46.0 Restructuring costs1.1 0.3 Foreign currency (gain) loss, net2.6 3.2 Other operating expense (income)(0.2)0.3 Operating profit (loss)290.7 202.6 Interest expense, net25.3 39.0 Change in fair value of warrant liabilities— 176.6 Income (loss) before income taxes265.4 (13.0)Income tax expense (benefit)100.9 (7.1)Net income (loss)$164.5 $(5.9)Earnings (loss) per share:Basic$0.43 $(0.02)Diluted$0.42 $(0.02)Weighted-average shares outstanding:Basic380,845,511 379,135,184 Diluted390,109,650 379,135,184 

See accompanying Notes to Unaudited Condensed Consolidated Financial Statements

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

VERTIV HOLDINGS CO

(Dollars in millions)

Three months ended March 31, 2025Three months ended March 31, 2024Net income (loss)$164.5 $(5.9)Other comprehensive income (loss), net of tax:Foreign currency translation77.1 (43.2