Vertiv Holdings reported robust Q2 2024 financial results with net sales reaching $1.95 billion, up 12.6% year-over-year, driven by higher volumes across all segments. Operating profit surged 63.3% to $336 million, while net income more than doubled to $178.1 million. Gross margin expanded to 38% from 34.3% in the prior year quarter.The Americas segment led growth with sales up 16.9% to $1.12 billion and operating profit increasing 48.7% to $285.1 million, driven by strong demand in Colocation and Hyperscale markets. Europe, Middle East & Africa delivered 11.5% sales growth to $422.6 million, while Asia Pacific grew 3.4% to $409.1 million despite currency headwinds.The company maintained strong liquidity with $579.7 million in cash and $585 million available under its credit facility. During Q2, Vertiv reduced its term loan interest rate margin by 0.50% and extended its revolving credit facility to 2029. The company continues to invest in capacity expansion and new technologies to support growing AI infrastructure demand while executing its $3 billion share repurchase program.

Vertiv Holdings reported robust Q2 2024 financial results with net sales reaching $1.95 billion, up 12.6% year-over-year, driven by higher volumes across all segments. Operating profit surged 63.3% to $336 million, while net income more than doubled to $178.1 million. Gross margin expanded to 38% from 34.3% in the prior year quarter.The Americas segment led growth with sales up 16.9% to $1.12 billion and operating profit increasing 48.7% to $285.1 million, driven by strong demand in Colocation and Hyperscale markets. Europe, Middle East & Africa delivered 11.5% sales growth to $422.6 million, while Asia Pacific grew 3.4% to $409.1 million despite currency headwinds.The company maintained strong liquidity with $579.7 million in cash and $585 million available under its credit facility. During Q2, Vertiv reduced its term loan interest rate margin by 0.50% and extended its revolving credit facility to 2029. The company continues to invest in capacity expansion and new technologies to support growing AI infrastructure demand while executing its $3 billion share repurchase program.