Vertiv Holdings Co Earnings Summary — Q1 2026

• Revenue grew 30.13% year-over-year to $2.65 billion, driven by massive global demand for high-density AI compute infrastructure.
• Net Income surged 137.14% YoY to $390.1 million, reflecting significant operating leverage as the company scales.
• Operating Income margin expanded to 16.61% compared to 14.28% in the same quarter last year, despite a seasonal sequential decline.
• Vertiv continues to transition from a cyclical industrial profile to a high-growth technology infrastructure play with double-digit net margins.
• Deleveraging remains a focus, with consistent earnings expansion supporting a robust return on equity profile exceeding 30%.
• Pricing power and structural product mix shifts toward high-margin digital infrastructure remain key profitability drivers.
• The company is benefiting from a primary secular tailwind in liquid cooling and power management for generative AI data centers.

Management is maintaining focus on operational excellence and capacity expansion for liquid cooling to capture the long-term technology cycle in AI data centers.

Improving

The company has successfully transitioned from a low-margin entity to a high-performance compounder with exceptional revenue and earnings momentum.

Strong demand for AI infrastructure and cloud capacity suggests continued revenue scaling and margin expansion as high-density cooling solutions become standard.