Vertiv Holdings Co (NYSE:VRT) has increased FY23 guidance as it continues to see strong market demand for its critical digital infrastructure products and services.
VRT raised FY23 net sales guidance from $6.826 billion – $6.851 billion to $6.875 billion – $6.895 billion versus an estimate of $6.85 billion.
The organic net sales growth has been raised from 20.9% – 21.4% to 21.9% – 22.3%.
The company sees adjusted EPS of $1.72 – $1.76 (previously $1.69 – $1.73) versus an estimate of $1.72.
Vertiv raised adjusted operating profit outlook from $1.02 billion – $1.03 billion to $1.035 billion – $1.045 billion.
The company also said effective today, its Board of Directors approved a share repurchase program for up to $3 billion of common stock over the next four years.
Vertiv’s Board has declared an increase in the company’s annual cash dividend for 2023 to $0.025 per share, payable on December 27, 2023, to shareholders of record on December 11, 2023.
Price Action: VRT shares are trading lower by 1.517% at $41.61 on the last check Wednesday.
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