Vertiv Stock Falls Despite Earnings Beat and Raised Outlook
Vertiv Holdings reported second-quarter adjusted earnings of $1.52 per share, up from $0.95 a year earlier, surpassing analyst expectations. Revenue reached $3.27 billion, a 24% increase year-over-year. The company also raised its full-year guidance. Despite these positive results, Vertiv stock fell approximately 12% in premarket trading on Wednesday, following a 6.3% decline on Tuesday. The market reaction suggests investor disappointment with the magnitude of the beat or forward guidance details.
Key facts
- Vertiv reported Q2 adjusted earnings of $1.52 per share, up from $0.95 a year ago.
- Revenue was $3.27 billion, a 24% increase year-over-year.
- The company raised its full-year outlook.
- Vertiv stock fell about 12% in premarket trading after the earnings release.
- The stock had already declined 6.3% on Tuesday.
- The earnings beat expectations but the stock sank.
Entities
Institutions
- Vertiv Holdings
Sources
- Quartz —