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How Vertiv (VRT) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/29/2026
Vertiv Holdings Co. is an American provider of infrastructure and services for data centers, communication networks, and commercial and industrial environments. · Wikipedia
More about the company
Headquartered in Westerville, Ohio, Vertiv has around 34,000 employees worldwide, operating in more than 40 countries and with 30 manufacturing and assembly facilities.
Key growth driver: Americas — the fastest-growing revenue line: $2,071, +29% y/y. · by the Q2 2026 report
How does Vertiv make money?
Vertiv brought in $3.27 billion of revenue in Q2 2026, up 24.1% year over year. The largest source was Americas: $2.07 billion, or 63% of the total, followed by APAC ($720M, 22%) and EMEA ($484M, 15%). Net income for the quarter was $498 million, up 53.5% year over year.
Revenue by source, Q2 2026
- Americas$2.07B · 63% · +29.2%
- APAC$720M · 22% · +28.5%
- EMEA$484M · 15% · +1.7%
Shares of $3.27B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is VRT’s next earnings date?
Wednesday, October 28, 2026estimated
Vertiv (VRT) has not confirmed the date yet; Oct 28, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $1.83 (7 analysts), vs $1.24 in the same quarter last year.
What time does VRT report? Usually before market open: the last 4 results releases reached the SEC at 6:01 am, 6:00 am, 6:00 am, 6:01 am ET.
Last report: Jul 29, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$3,274
+24.1%
Gross profit
$1,235
+37.5%
37.7% margin
Operating income
$638
+44.2%
19.5% margin
Net income
$498
+53.5%
Diluted EPS $1.27 (+53%)
Verdict: an exceptionally strong quarter driven by AI-data-center demand — sales up 24% (18% organic) and net income up 54% on operating leverage across AMER and APAC — with EMEA the lone soft spot and guidance raised for the third straight quarter.
OCF $1,100M (+241% y/y); adjusted FCF $925M (+234%); dividend $23.9M paid; FY26 guidance raised to $14.0B sales / $6.65-$6.75 adj. diluted EPS.
Source and notation
* marks non-cash / ≈ estimated. Source: Vertiv Holdings Co press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
VRT earnings history: past report dates
| Jul 29, 2026 Wed | 6:01 ambefore market open | Jun 30, 2026 | $3.3B+24% y/y | $1.27+53% y/y |
| Apr 22, 2026 Wed | 6:00 ambefore market open | Mar 31, 2026 | $2.6B+30% y/y | $0.99+136% y/y |
| Feb 11, 2026 Wed | 6:00 ambefore market open | Dec 31, 2025 | ≈$2.9B+23% y/y | ≈$1.14+200% y/y |
| Oct 22, 2025 Wed | 6:01 ambefore market open | Sep 30, 2025 | $2.7B+29% y/y | $1.02+122% y/y |
| Jul 30, 2025 Wed | 6:03 ambefore market open | Jun 30, 2025 | $2.6B+35% y/y | $0.83+80% y/y |
| Apr 23, 2025 Wed | 6:01 ambefore market open | Mar 31, 2025 | $2.0B+24% y/y | $0.42 |
| Feb 12, 2025 Wed | 6:06 ambefore market open | Dec 31, 2024 | ≈$2.3B+26% y/y | ≈$0.38−38% y/y |
| Oct 23, 2024 Wed | 6:01 ambefore market open | Sep 30, 2024 | $2.1B+19% y/y | $0.46+92% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Vertiv: 5-year financials
| 2025 | 10,230 | 1,830 | 1,333 | 1,894 | 66.6 |
| 2024 | 8,012 | 1,367 | 496 | 1,152 | 42.2 |
| 2023 | 6,863 | 872 | 460 | 773 | 9.5 |
| 2022 | 5,692 | 223 | 76.6 | −253 | 3.8 |
| 2021 | 4,998 | 260 | 120 | 138 | 3.8 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 202610-K FY2025: the In re Vertiv Securities Litigation class action (2022) and derivative suits are at an early stage; on December 30, 2025, the SEC said it had concluded its investigation without recommending enforcement action against the company. sec.gov ↗
- Feb 2026Class A shares outstanding of 382.6M vs. 351.4M in February 2021 (+8.9%); SBC 0.45% of revenue. data.sec.gov ↗
- Feb 202610-K cover: only Class A common stock is registered. sec.gov ↗
Scoring: 2.0, no deductions: single share class, share count +8.9% over 5 years (below the 10% threshold), SBC 0.45% of revenue, the 2022 suit is unresolved, the SEC closed its probe without action = 2.0
- Share classes
- Single class — Class A common stock (NYSE: VRT).
- Dilution
- Shares 351.4M (February 2021) → 382.6M (February 2026), +8.9% (<10%); XBRL shows +27% because 2020 was a partial year after the SPAC merger (February 2020) — it does not reflect issuance; SBC 0.45% of revenue. No deduction.
- Disclosure
- Full 10-K/10-Q reporting.
- Dividends
- Quarterly dividend since 2023, raised: $0.025 → $0.0375 (November 2024) → $0.0625 (November 2025); buybacks of $0.6B in 2024.
- Lawsuits & regulators
- A class action (SDNY, 2022) over disclosure of inflation risks and derivative suits — unresolved. On December 30, 2025, the SEC said it had concluded its probe without recommending action. No deduction.
- Related parties
- 2026 proxy: apart from the 2020 SPAC merger and indemnification agreements, no transactions; Platinum Equity no longer controls the company.
How the score works · checked as of Sep 2026
Vertiv (VRT) earnings: FAQ
How does Vertiv make money?
Vertiv brought in $3.27 billion of revenue in Q2 2026, up 24.1% year over year. The largest source was Americas: $2.07 billion, or 63% of the total, followed by APAC ($720M, 22%) and EMEA ($484M, 15%). Net income for the quarter was $498 million, up 53.5% year over year.
When is VRT's next earnings date?
Vertiv (VRT) has not confirmed the date yet; Oct 28, 2026 is an estimate based on its past reporting schedule.
What time does VRT report earnings?
Vertiv usually reports before market open: its latest results release was filed with the SEC at 6:01 am ET on Jul 29, 2026.
When did VRT last report earnings?
Vertiv reported Q2 2026 results on Jul 29, 2026.
What is the EPS estimate for VRT's next earnings?
The consensus EPS forecast is $1.83 (7 analysts), vs $1.24 in the same quarter last year.
Where can I find Vertiv's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to VRT's filings; this page breaks the latest report down in a Sankey chart.
What was VRT's net income in Q2 2026?
Vertiv reported net income of $498M for Q2 2026 (+53.5% year over year), under US GAAP.
Does Vertiv pay dividends?
Yes. In 2025, Vertiv paid $67M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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