Summary
- Vertiv’s third-quarter sales increased 61% to $4.31bn.
- Organic order growth exceeded 100%, while EMEA sales rose 23%.
- The company increased full-year guidance as demand for power and cooling equipment accelerated.
Vertiv reported third-quarter net sales of $4.313bn, a 61% increase from the equivalent period in 2025, as demand for critical power, cooling, and data centre infrastructure equipment continued to accelerate.
Organic revenue increased 55%, while acquisitions contributed approximately six percentage points to reported sales growth. The company also recorded organic order growth exceeding 100% compared with the same quarter last year.
Growth extended across all reporting regions, although the pace varied substantially. Americas revenue increased 75%, Asia-Pacific sales rose 50%, and Europe, the Middle East, and Africa recorded growth of 23%.
EMEA organic revenue increased approximately 19%, compared with organic growth of 66% in the Americas and 48% in Asia-Pacific. The difference illustrates the regional variation in the rate at which equipment demand is converting into supplier revenue.
Vertiv supplies power protection, electrical distribution, cooling systems, monitoring technologies, and engineering services used throughout the data centre lifecycle. Its results provide an indication of customer expenditure on the infrastructure surrounding servers and networking equipment.
Equipment revenue cannot be equated directly with megawatts of newly commissioned data centre capacity. Orders and deliveries may occur well before completion of a facility, while equipment requirements vary according to project design and the density of installed computing systems.
The company reported operating profit of $984m, increasing 90% year on year. Adjusted operating profit reached approximately $1.09bn, with an adjusted operating margin of 25.2%, representing an improvement of 290 basis points.
Operating cash flow reached $794m, while adjusted free cash flow was $652m. Both figures increased substantially compared with the same period last year, supporting the company’s continuing investment in manufacturing and services.
Vertiv raised its full-year revenue guidance by $650m. Its revised outlook places expected 2026 net sales between $14.45bn and $14.85bn, with a midpoint of $14.65bn.
For the fourth quarter, Vertiv expects net sales of between $4.313bn and $4.513bn. The guidance implies continued strong demand, although realised sales will depend on equipment delivery and the company’s execution against its order commitments.
Data centre equipment manufacturers are facing increasingly complex technical requirements as customers deploy accelerated computing systems. High-density rack installations often require different power distribution arrangements and more substantial thermal infrastructure than earlier generations of server equipment.
Direct liquid cooling introduces components and operating requirements that extend from processor-level equipment through coolant distribution to facility cooling loops and heat rejection systems.
Electrical infrastructure is changing alongside cooling technology. Higher rack loads create additional demands on switchgear, transformers, power conversion, busway systems, monitoring, and protection equipment.
Suppliers capable of coordinating these technologies can reduce the need for customers to manage individual components separately. Integration nevertheless requires appropriate engineering, factory testing, site installation, and commissioning.
Vertiv has expanded its portfolio through acquisitions and partnerships. Its recent acquisition of UtilityInnovation Group adds capabilities in microgrids and electrical infrastructure, while separate cooling-related transactions broaden services for liquid-cooled facilities.
These developments are distinct from the current financial results, which show how demand for the company’s wider equipment and services portfolio is affecting sales, orders, and profitability.
Revenue growth is accompanied by a substantial increase in the company’s expected full-year profitability. Vertiv now projects adjusted operating profit of $3.475bn to $3.555bn for 2026, while adjusted free cash flow is expected to reach between $2.6bn and $2.8bn. These are management forecasts, not completed annual results.
The company also expects to spend about 4% of annual revenue on capital expenditure. That investment is relevant to manufacturing capability because the current orders have to be converted into finished power and cooling systems rather than simply allocated as additional data centre capacity.
Quarterly operating profit of $983.8m should be kept separate from the adjusted $1.087bn figure, which incorporates specified reconciliation items. Similarly, the 55% organic sales increase excludes acquisition effects, whereas the reported 61% growth includes them. These distinctions allow comparison of expansion in the existing business with growth attributable to transactions.
Vertiv’s quarterly results reflect both delivered equipment and service activity. Orders may support its future revenue outlook, but their ultimate timing depends on customer readiness and contractual delivery schedules, rather than on the publication of the financial results.
Further growth will depend partly on production capacity and the availability of components, skilled personnel, and project installation resources. Strong orders establish future commercial commitments, but delivery schedules remain dependent on manufacturing and customer project readiness.
