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VRT · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
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.
Net Income
$498M
up 53.5% y/y
Net Sales
$3,274M
up 24.1% y/y
Operating Profit
$638M
up 44.2% y/y
Gross Profit
$1,235M
up 37.5% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Americas | $2,071 · +29.2% |
| APAC | $720 · +28.5% |
| EMEA | $484 · +1.7% |
| Net Sales | $3,274 · +24.1% |
| Cost of Sales | $2,039 · +17.1% |
| Gross Profit | $1,235 · +37.5% · 37.7% margin |
| SG&A | $494 · +25.0% |
| Amort., FX, Restructuring & Other | $103 · +79%≈ · incl. $29M contingent consideration* |
| Operating Profit | $638 · +44.2% · 19.5% margin |
| Interest & Other, Net | $18 · -16% · non-operating expense |
| Pretax Income | $620 · +47.3% |
| Income Tax | $122 · +26.1% |
| 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 as an image: VRT, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “VRT Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/vrt/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/vrt/q2-2026"><img src="https://whoreportstoday.com/t/vrt/q2-2026/sankey.png" alt="VRT Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/vrt/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
https://whoreportstoday.com/t/vrt/q2-2026/sankey.png
<a href="https://whoreportstoday.com/t/vrt/q2-2026">VRT Q2 2026 earnings chart (Who Reports Today)</a>
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- GAAP operating profit ($638M, +44%) trails adjusted operating profit ($738M, +51%) mainly due to $73.7M amortization of intangibles and a $28.8M non-cash contingent-consideration charge tied to the PurgeRite acquisition.
- AMER (63% of sales) grew 29% and drove most of the profit gain; EMEA was roughly flat (+1.7% reported, -2.4% organic) as FX and acquisition timing offset weak organic trends.
- Acquisitions contributed 5 pts and FX 1 pt to the 24% headline growth, leaving 18% organic growth as the real demand signal.
- Working capital swung sharply favorable (+$451M vs -$90M last year), mainly from a $1.17B jump in deferred revenue (customer prepayments), powering the 241% surge in operating cash flow.
- Diluted EPS grew 53% to $1.27 GAAP vs 60% to $1.52 adjusted; the gap reflects the same intangible amortization/contingent-consideration add-backs.
- Company achieved a net cash position and raised FY26 guidance across all key metrics, citing accelerating AI/data-center infrastructure demand and growing pipelines.
What distorts the picture in this report and what to watch beyond the headlines.
VRT — Vertiv Holdings provides critical digital infrastructure technologies and solutions for data centers, communication networks, and commercial buildings.
The company is headquartered in Columbus, Ohio, and serves customers globally.
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