Why Electrical Equipment Company Vertiv Shares Are Tumbling Premarket Wednesday



Vertiv Holdings (NYSE:VRT) shares are declining premarket today after the company reported fourth-quarter FY23 results.

Net sales rose 13% Y/Y to $1.865 billion, missing the consensus of $1.885 billion. Organic orders rose 23% Y/Y in the quarter, with a backlog of $5.5 billion at the end of the year.

Adjusted operating profit grew 57% Y/Y to $330 million, and adjusted operating margin expanded 500 basis points Y/Y to …

Full story available on Benzinga.com


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