Strong Q3 For Vertiv: Revenue Rises 19%, But Stock Takes A Hit
Portfolio Pulse from Lekha Gupta
Vertiv Holdings Co (NYSE:VRT) reported a strong Q3 with a 19% revenue increase and a 41% rise in adjusted operating profit. Despite beating earnings expectations, VRT shares fell 7.63% premarket. The company raised its FY24 guidance, projecting higher revenue and EPS. Investors can access VRT through ETFs like NETZ and OCFS.
October 23, 2024 | 12:35 pm
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NEGATIVE IMPACT
Investors can gain exposure to Vertiv Holdings through the TCW Transform Systems ETF (NETZ). The ETF may be impacted by Vertiv's stock performance, which fell despite strong Q3 results.
NETZ holds VRT, so its performance may be influenced by VRT's stock movement. VRT's decline could negatively impact NETZ in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The Professionally Managed Portfolios Otter Creek Focus Strategy ETF (OCFS) offers exposure to Vertiv Holdings. OCFS may be affected by Vertiv's stock decline despite strong Q3 results.
OCFS includes VRT, so its performance could be impacted by VRT's stock decline. The negative market reaction to VRT's results may affect OCFS in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Vertiv Holdings reported strong Q3 results with a 19% increase in revenue and a 41% rise in adjusted operating profit. Despite beating expectations, the stock fell 7.63% premarket. The company raised its FY24 guidance, indicating confidence in future growth.
Despite strong financial performance and raised guidance, VRT shares fell, possibly due to market expectations or profit-taking. The raised guidance suggests confidence in future growth, but the immediate market reaction is negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100