Vertiv Holdings (VRT) Q2 FY2026 earnings: revenue $3.3 billion, up 24.1% on the year
Vertiv Holdings Co. (VRT) reported revenue of $3.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 24.1% on the same quarter a year earlier. Net income was $498 million, up 53.5% on the year, and diluted earnings per share $1.27. The figures are the company's own, from the 10-Q it filed with the SEC on 29 July 2026.
Revenue
$3.3 billion
+24.1% on the year · +23.6% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
19.5%
16.8% a year earlier
Q3 FY2024Q2 FY2026
Net income
$498 million
+53.5% on the year · +27.6% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$1.27
+53.0% on the year · +28.3% on the quarter
Q3 FY2024Q2 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 8 raised, 6 new.
Net sales up 24% on organic growth: Net sales were $3,274 million, up 24% from second quarter 2025, with 18% organic growth, 5% from acquisitions and 1% from currency.
Diluted EPS up 53%, adjusted up 60%: Diluted EPS was $1.27, up 53%; adjusted diluted EPS was $1.52, up 60%, compared with second quarter 2025.
Americas drove most of the growth: Americas net sales rose 29.2% to $2,070.8 million, with 21.1% organic growth; Americas adjusted operating profit was $571.4 million, up 48.6%.
$ million except per share. Read moreFree 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
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
1,100
767
323
+43.4%
+240.6%
Capital expenditure
173
113
45.0
+53.9%
+285.1%
Free cash flow
926
654
278
+41.6%
+233.4%
Free cash flow margin
28.3%
24.7%
10.5%
Cash from investing
-404
-377
-144
Cash from financing
-14.9
11.9
-8.0
Depreciation and amortisation
116
108
73.3
+7.5%
+58.0%
Share-based compensation
13.8
17.0
13.3
-18.8%
+3.8%
Buybacks
n/a
n/a
0.0
Dividends paid
23.9
23.9
14.2
0.0%
+68.3%
Diluted shares, weighted
393m
392m
390m
+0.2%
+0.7%
Shares outstanding at period end
385m
384m
382m
+0.3%
+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
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
4,758
4,245
3,125
+12.1%
+52.2%
Debt
2,940
2,922
2,922
+0.6%
+0.6%
Other liabilities
8,204
6,233
4,359
+31.6%
+88.2%
Total liabilities and equity
15,901
13,400
10,406
+18.7%
+52.8%
Fixed assets
1,184
998
666
+18.7%
+77.7%
Goodwill
2,283
2,024
1,374
+12.8%
+66.2%
Intangible assets
1,801
1,806
1,454
-0.3%
+23.8%
Cash and equivalents
2,811
2,151
1,641
+30.7%
+71.3%
Receivables
3,750
3,149
2,831
+19.1%
+32.5%
Inventory
2,523
1,835
1,413
+37.5%
+78.5%
Other assets
1,549
1,439
1,026
+7.6%
+50.9%
Total assets
15,901
13,400
10,406
+18.7%
+52.8%
Questions
What was Vertiv Holdings' revenue in Q2 FY2026?
Vertiv Holdings (VRT) reported revenue of $3.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 24.1% on the same quarter a year earlier.
How much did Vertiv Holdings earn in Q2 FY2026?
Net income for Q2 FY2026 was $498 million, up 53.5% on the year, and diluted earnings per share $1.27.
When did Vertiv Holdings report Q2 FY2026 results?
Vertiv Holdings filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 29 July 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 30 June 2026, filed 29 July 2026: the filing.