greeksoup/ stock research
Stock research / United States / VRT / Q1 FY2022

Vertiv Holdings (VRT) Q1 FY2022 earnings: revenue $1.2 billion, up 5.3% on the year

Vertiv Holdings Co. (VRT) reported revenue of $1.2 billion for Q1 FY2022, the quarter ended 31 March 2022, up 5.3% on the same quarter a year earlier. Net income was $8 million, down 73.2% on the year, and diluted earnings per share $-0.23. The figures are the company's own, from the 10-Q it filed with the SEC on 2 May 2022.

Revenue$1.2 billionup 5.3%
Net income$8 milliondown 73.2%
Diluted EPS$-0.23
QuarterQ1 FY2022ended 31 March 2022

The quarter, against the one before and a year earlier

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Revenue1,1561,410n/an/a
Cost of revenue8531,037n/an/a
Gross profit304374n/an/a
Gross margin26.3%26.5%n/a
Selling, general and administrative292329n/an/a
Operating income-45.2-3.9n/an/a
Operating margin-3.9%-0.3%n/a
Interest expense29.324.1n/an/a
Pre-tax income20.421.6n/an/a
Income tax11.9-0.4n/an/a
Effective tax rate58.3%-1.9%n/a
Net income8.522.0n/an/a
Net margin0.7%1.6%n/a
Diluted EPS-$0.23$0.06n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Operating cash flow-13236.5n/an/a
Capital expenditure15.130.1n/an/a
Free cash flow-1476.4n/an/a
Free cash flow margin-12.7%0.5%n/a
Cash from investing-18.2-1,170n/an/a
Cash from financing-1.5828n/an/a
Depreciation and amortisation79.269.9n/an/a
Share-based compensation6.65.7n/an/a
Diluted shares, weighted380m360mn/an/a
Shares outstanding at period end376m376mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ1 FY2022Q4 FY2021A year earlierChange on the year
Shareholders' equity1,4541,418n/an/a
Debt2,9682,972n/an/a
Operating lease liabilities113114n/an/a
Other liabilities2,3762,436n/an/a
Total liabilities and equity6,9116,940n/an/a
Fixed assets485489n/an/a
Goodwill1,3181,330n/an/a
Intangible assets2,0552,138n/an/a
Cash and equivalents288439n/an/a
Receivables1,5341,536n/an/a
Inventory774616n/an/a
Other assets456390n/an/a
Total assets6,9116,940n/an/a

Questions

What was Vertiv Holdings' revenue in Q1 FY2022?

Vertiv Holdings (VRT) reported revenue of $1.2 billion for Q1 FY2022, the quarter ended 31 March 2022, up 5.3% on the same quarter a year earlier.

How much did Vertiv Holdings earn in Q1 FY2022?

Net income for Q1 FY2022 was $8 million, down 73.2% on the year, and the diluted loss per share $0.23.

When did Vertiv Holdings report Q1 FY2022 results?

Vertiv Holdings filed its 10-Q for the quarter ended 31 March 2022 with the SEC on 2 May 2022.

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,2291,4101,1561,3991,4811,6551,5211,7341,7431,8651,6391,9532,0742,3462,0362,6382,6762,8802,6503,274
Cost of revenue8471,0378531,0281,0521,1431,0261,1401,1151,1821,0731,2121,3171,4761,3501,7421,6651,7591,6502,039
Gross profit3823743043724295124965946286835667417568706868971,0111,1211,0001,235
Gross margin31%26%26%27%29%31%33%34%36%37%35%38%36%37%34%34%38%39%38%38%
SG&A258329292288295303309328327349314364335362346396414462457494
Operating income81.8-3.9-45.226.280.0162130206251285203336372457291442517580440638
Operating margin7%-0%-4%2%5%10%9%12%14%15%12%17%18%19%14%17%19%20%17%19%
Interest expense22.424.129.333.438.845.846.846.943.542.939.044.835.930.725.321.322.816.7-4.417.4
Pre-tax income91.921.620.431.731.483.587.7113146187-13.0265268245265421492563438620
Tax rate39%-2%58%36%32%68%43%26%35%-24%n/a33%34%40%38%23%19%21%11%20%
Net income56.222.08.520.321.226.650.383.294.1233-5.9178177147164324398446390498
Net margin5%2%1%1%1%2%3%5%5%12%-0%9%9%6%8%12%15%15%15%15%
Diluted EPS$0.15$0.06-$0.23$0.05$0.06$0.07$0.12$0.22$0.24$0.60-$0.02$0.46$0.46$0.38$0.42$0.83$1.02$1.14$0.99$1.27
Operating cash flow54.436.5-132-2064.418142.02542493561383783784253033235099797671,100
Capital expenditure12.930.115.123.123.538.327.825.826.547.835.834.136.460.736.545.045.293.3113173
Free cash flow41.56.4-147-229-19.114214.2228222308102344342364267278464886654926
Buybacksn/an/an/an/an/an/a0.00.00.00.06000.00.00.00.00.00.00.0n/an/a
Dividends paidn/an/an/an/an/an/a0.00.00.09.59.39.49.414.114.214.214.224.023.923.9
Shares outstanding352m376m376m377m377m377m379m380m381m382m374m375m375m381m381m382m382m383m384m385m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2022, filed 2 May 2022: the filing.