Company: VRT
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001674101-25-000024
Chunk: 56

Company: Vertiv Holdings Co
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 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. Pending further regulatory guidance, we do not anticipate the enacted changes to have a material impact on our financial position.

24

RESULTS OF OPERATIONS 

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

(Dollars in millions)Three months ended September 30, 2025Three months ended September 30, 2024$ Change% ChangeNet sales$2,675.8 $2,073.5 $602.3 29.0 %Cost of sales1,665.1 1,317.1 348.0 26.4 Gross profit1,010.7 756.4 254.3 33.6 Selling, general and administrative expenses414.3 334.6 79.7 23.8 Amortization of intangibles48.2 45.3 2.9 6.4 Restructuring costs30.7 6.3 24.4 387.3 Foreign currency (gain) loss, net0.9 5.3 (4.4)(83.0)Other operating expense (income)(0.1)(6.7)6.6 98.5 Operating profit (loss)516.7 371.6 145.1 39.0 Interest expense, net22.8 35.9 (13.1)(36.5)Loss on extinguishment of debt1.7 — 1.7 — Change in fair value of warrant liabilities— 67.2 (67.2)(100.0)Income tax expense93.7 91.9 1.8 2.0 Net income (loss)$398.5 $176