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Data center products and services company Vertiv (NYSE:VRT) will be reporting earnings tomorrow morning. Here’s what you need to know.
Vertiv met analysts’ revenue expectations last quarter, reporting revenues of $1.95 billion, up 12.6% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is Vertiv a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Vertiv’s revenue to grow 13.5% year on year to $1.98 billion, slowing from the 17.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.69 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Vertiv has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Vertiv’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Acuity Brands delivered year-on-year revenue growth of 2.2%, meeting analysts’ expectations, and Badger Meter reported revenues up 11.9%, falling short of estimates by 1.8%. Acuity Brands traded up 9% following the results while Badger Meter was down 5.4%.
Read our full analysis of Acuity Brands’s results here and Badger Meter’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 2.3% on average over the last month. Vertiv is up 17.1% during the same time and is heading into earnings with an average analyst price target of $114.25 (compared to the current share price of $112.49).
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