Vertiv Q2 FY2026: revenue up 24.1%, adjusted EPS $1.52, guidance raised
Vertiv's second quarter beat on the numbers that matter most: $3.27 billion of revenue, $1.52 of adjusted EPS against a $1.438 consensus, $925.3 million of adjusted free cash flow and raised full-year guidance. The GAAP headline of $1.27 looks softer, but the gap to adjusted is mostly intangible amortization and acquisition charges. The view is Bullish. Read the inventory and receivables lines carefully — this growth is expensive to fund.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $1.27, up 53% from $0.83, while adjusted diluted EPS was $1.52, up 60% from $0.95. Measured against the $1.438 consensus figure, the adjusted number cleared it by $0.08 while GAAP landed below it. That $0.25 spread is mostly $73.7 million of intangible amortization and $28.8 million of contingent consideration tied to the PurgeRite acquisition.
Revenue was $3.27 billion, up 24.1% from $2.64 billion a year earlier, made up of 17.8% organic growth, a 5% acquisition contribution and a 1% currency benefit. The segment chart splits the quarter into $2.65 billion of product revenue and $667.9 million of services and spares, so this is still a hardware-led business. No revenue consensus was provided, so the clean read is the growth rate itself, helped by management's note that the quarter contained minor timing shifts from supply chain congestion and multi-phased projects.
Full-year guidance was raised to $13.8–14.2 billion of net sales and $6.65–6.75 of adjusted diluted EPS, with adjusted free cash flow of $2.4–2.6 billion. For the third quarter alone, management points to $3.65–3.85 billion of net sales and $1.77–1.83 of adjusted EPS. The third-quarter midpoint of $3.75 billion sits about 14.5% above the $3.27 billion just reported.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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