Vertiv Holdings (VRT) Q1 FY2026 earnings: revenue $2.6 billion, up 30.1% on the year
Vertiv Holdings Co. (VRT) reported revenue of $2.6 billion for Q1 FY2026, the quarter ended 31 March 2026, up 30.1% on the same quarter a year earlier. Net income was $390 million, up 137.1% on the year, and diluted earnings per share $0.99. The figures are the company's own, from the 10-Q it filed with the SEC on 22 April 2026.
Revenue
$2.6 billion
+30.1% on the year · -8.0% on the quarter
Q2 FY2024Q1 FY2026
Operating margin
16.6%
14.3% a year earlier
Q2 FY2024Q1 FY2026
Net income
$390 million
+137.1% on the year · -12.5% on the quarter
Q2 FY2024Q1 FY2026
Diluted EPS
$0.99
+135.7% on the year · -13.2% on the quarter
Q2 FY2024Q1 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 7 raised, 7 new, 1 kept.
Net sales rose 30% year on year: Net sales were $2,650 million, up $614 million, with 23% organic growth, 4% from acquisitions and 3% from favorable currency translation.
Operating profit up 51%, adjusted 64%: Operating profit was $440 million, up $149 million. Adjusted operating profit was $551 million, up $214 million, from first quarter 2025.
Americas drove most of the growth: Americas net sales rose 53.1% to $1,814.4 million, with 44.3% organic growth; adjusted operating profit was $490.2 million, up 88.8%.
$ 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
$ million
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
767
979
303
-21.7%
+152.8%
Capital expenditure
113
93.3
36.5
+20.7%
+208.5%
Free cash flow
654
886
267
-26.1%
+145.2%
Free cash flow margin
24.7%
30.8%
13.1%
Cash from investing
-377
-608
-38.8
Cash from financing
11.9
-28.0
-24.9
Depreciation and amortisation
108
88.3
71.6
+22.0%
+50.4%
Share-based compensation
17.0
7.2
11.2
+136.1%
+51.8%
Buybacks
n/a
0.0
0.0
Dividends paid
23.9
24.0
14.2
-0.4%
+68.3%
Diluted shares, weighted
392m
392m
390m
+0.1%
+0.5%
Shares outstanding at period end
384m
383m
381m
+0.4%
+0.8%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q1 FY2026
Q4 FY2025
Q1 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
4,245
3,941
2,666
+7.7%
+59.2%
Debt
2,922
2,913
2,925
+0.3%
-0.1%
Operating lease liabilities
n/a
245
n/a
Other liabilities
6,233
5,113
3,860
+21.9%
+61.5%
Total liabilities and equity
13,400
12,212
9,451
+9.7%
+41.8%
Fixed assets
998
922
637
+8.2%
+56.5%
Goodwill
2,024
2,034
1,340
-0.5%
+51.0%
Intangible assets
1,806
1,895
1,463
-4.7%
+23.5%
Cash and equivalents
2,151
1,728
1,467
+24.4%
+46.6%
Receivables
3,149
3,109
2,310
+1.3%
+36.3%
Inventory
1,835
1,456
1,384
+26.0%
+32.6%
Other assets
1,439
1,068
850
+34.7%
+69.3%
Total assets
13,400
12,212
9,451
+9.7%
+41.8%
Questions
What was Vertiv Holdings' revenue in Q1 FY2026?
Vertiv Holdings (VRT) reported revenue of $2.6 billion for Q1 FY2026, the quarter ended 31 March 2026, up 30.1% on the same quarter a year earlier.
How much did Vertiv Holdings earn in Q1 FY2026?
Net income for Q1 FY2026 was $390 million, up 137.1% on the year, and diluted earnings per share $0.99.
When did Vertiv Holdings report Q1 FY2026 results?
Vertiv Holdings filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 22 April 2026.
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 2026, filed 22 April 2026: the filing.