Vertiv 10-Q Details Q3: Sales $4.31B (+61%), Diluted EPS $1.95, Cash $3.51B
VRT sits 63% above its 52-week low of $147.82 on elevated volume (3.5× avg).
Summary
Vertiv's Q3 10-Q backs up this morning's beat with $4.31B of sales (+61%), $1.95 diluted EPS and $2.66B of nine-month operating cash flow, while inventories and deferred revenue both roughly doubled as the company scales for AI data center demand.
Key Events · Earnings and Guidance · VRT
-
Q3 Sales Up 61% to $4.31B
Net sales were $4,312.8M versus $2,675.8M a year ago, with product sales up $1,426.2M and services & spares up $210.8M; acquisitions added $156.9M.
-
Margins Expand, EPS $1.95
Gross profit was $1,643.4M, or 38.1% of sales, versus 37.8% a year ago; net income was $764.5M and diluted EPS $1.95 versus $1.02.
-
Cash Flow $2.66B, Cash $3.51B
Nine-month operating cash flow was $2,660.6M versus $1,108.9M; cash and equivalents stood at $3,512.9M at September 30, 2026, with $2,484.0M undrawn on the revolver.
-
Working Capital Builds Sharply
Inventories rose to $3,288.4M from $1,456.5M at December 31, 2025, and deferred revenue to $4,120.5M from $1,814.7M; capex was $425.0M for nine months with $575.0-$600.0M expected for full-year 2026.
Analysis · VRT · Manufacturing
This filing supplies the full financial backing for the Q3 beat Vertiv pre-announced this morning: sales of $4,312.8M, up 61.2%, gross margin of 38.1% versus 37.8%, and net income of $764.5M, or $1.95 diluted EPS. Beyond the headline, the detail that matters is cash generation — nine-month operating cash flow of $2,660.6M versus $1,108.9M a year ago — and a deferred revenue balance that more than doubled to $4,120.5M, representing customer money already booked for future delivery. Against that, inventories nearly doubled to $3,288.4M and capex is running at $425.0M for nine months with $575.0-$600.0M expected for the full year, so working capital is absorbing a lot of the growth. The $1.45B UtilityInnovation Group deal closed October 26, 2026, after the quarter closed, so its balance sheet is not in these numbers and will first appear in the 10-K.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 39% of the 991 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, VRT was trading at $240.60 on NYSE in the Manufacturing sector, with a market capitalization of approximately $93.5B. The 52-week trading range was $147.82 to $379.94. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.