$Vertiv Holdings LLC(VRT)$ Vertiv reported strong financial results for the first quarter of 2024 beating estimates for both sales and earnings.
Organic orders increased by 60% compared to the same period last year and net sales reached $1,639 million, marking an 8% increase from the first quarter of 2023. Operating profit for the quarter was $203 million, while adjusted operating profit stood at $249 million, reflecting a significant year-over-year growth of 42%.
The company also began returning cash to shareholders, repurchasing approximately 9.1 million shares at an average price of $66 per share, which was very well timed as the stock is considerably higher.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
