Core Insights - Strong market demand is evident, with a reported 35% organic growth last quarter and a book-to-bill ratio of 1.2 [1] Group 1: Demand Indicators - The company emphasizes the importance of various metrics such as sales growth and book-to-bill ratio to gauge market performance [1] - A critical parameter for the company is the strength of its pipeline, which reflects future opportunities [1] Group 2: Pipeline Definition - The company defines its pipeline strictly as active commercial opportunities, indicating a rigorous approach to assessing potential growth [1]

Vertiv (NYSE:VRT) FY Conference Summary Company Overview - **Company**: Vertiv - **Date**: September 10, 2025 - **Key Speakers**: CEO Giordano Albertazzi, CFO David Fallon Industry Insights - **Market Demand**: Strong demand in the data center market with a reported **35% organic growth** last quarter and a **$1.2 book-to-bill ratio** [3][25] - **Pipeline Strength**: The strength of the pipeline is a critical indicator of future performance, defined as active commercial opportunities with quotes [5][6] - **Liquid Cooling**: The industry is shifting towards liquid cooling, which is expected to represent about **one-third of the total Total Addressable Market (TAM)** for data center cooling [9][10] - **CapEx Structure**: The growth in IT spending is increasing, but the physical infrastructure segment remains strong, indicating a healthy TAM for Vertiv [11][12] Key Company Strategies - **Focus on White Space**: Vertiv is increasing its presence in the white space of data centers, which is becoming a fertile ground for growth due to rising complexity in power and cooling distribution [12][14] - **Future-Proofing Infrastructure**: The company is collaborating with key players like NVIDIA to design future-proof data center infrastructures [16][19] - **Prefabrication Solutions**: Introduction of prefabricated solutions to significantly reduce fit-out time in data centers, enhancing time to revenue for customers [13][14] Growth Constraints and Capacity - **Growth Moderating Factors**: Power availability is a limiting factor in some regions, but there is no expectation of a cliff in demand. The construction nature of the data center industry also limits speed [25][26] - **Capacity Management**: Vertiv is expanding manufacturing capacity and ensuring service capacity grows in line with manufacturing to maintain operational leverage [27][29] Financial Performance - **Margins**: Gross margins faced pressure due to tariffs and operational challenges, but a recovery is projected with operating margins expected to reach **20% in Q3** and **over 23% in Q4** [33][34] - **Pricing Strategy**: The company is actively managing pricing to offset tariff impacts and is confident in maintaining a price-cost positive position moving forward [35][36] Regional Market Insights - **North America**: Strong growth with a **40% increase** in physical shipments [40] - **Europe**: Slow growth attributed to regulatory challenges, but strong pipelines and low vacancy rates in data centers suggest potential for future growth [42][43] - **Asia-Pacific**: Generally positive outlook, with specific mentions of growth opportunities in India and China [43] Conclusion - Vertiv is well-positioned in the data center market with strong growth indicators, a focus on innovative solutions, and strategic partnerships. The company is navigating challenges related to tariffs and capacity while maintaining a positive outlook for future performance.

Group 1: Daktronics, Inc. - Daktronics reported fiscal first-quarter 2026 net income of $16.5 million, or $0.33 per diluted share, compared to a net loss of $4.9 million, or $0.11 per share, in the prior-year period [2] - Adjusted earnings of $0.33 per share exceeded the $0.25 consensus estimate, while revenue was $218.972 million, down 3.1% from last year but above the $213.412 million estimate [2] - Following the financial results, Daktronics shares surged 24.5% to $21.70 [2] Group 2: Other Notable Stock Movements - Vimeo, Inc. shares jumped 61% to $7.75 as the company agreed to be acquired by Bending Spoons in an all-cash transaction valued at $1.38 billion [4] - Oracle Corporation surged 39% to $335.55 after reporting first-quarter financial results, with multiple firms raising their price targets on the stock [4] - GameStop Corp. gained 6.3% to $25.07 after reporting better-than-expected quarterly financial results and announcing a special dividend of tradable warrants [4]

Question-and-Answer SessionThought we could start off with a demand question. The company reported very strong orders on your 2Q earnings call. Trailing 12-month orders were up 11% year-over-year. 2Q orders were up 15%. Maybe talk a bit more, Gio, if you could kick us off about what's driving some of that strength?Giordano AlbertazziCEO & Director Well, first of all, thanks for reminding the very good numbers we printed in the second quarter, very strong TTM. And I'd like to remind everyone that our competi ...

Vertiv (NYSE: VRT) 2025 Conference Summary Company Overview - **Company**: Vertiv - **Industry**: Data Center Infrastructure and Services Key Points Demand and Orders - **Strong Orders**: Trailing twelve-month orders increased by 11% year-over-year, with Q2 orders up 15% [3][4] - **Market Landscape**: The company is encouraged by the strong market landscape and backlog, with a robust pipeline that is strengthening quarter by quarter [4] - **Customer Base Expansion**: Growth is not limited to hyperscalers; there is significant demand from colocation markets and NeoCloud, indicating a broadening customer profile [5][6] AI and Enterprise Spending - **AI Influence**: There is optimism regarding enterprise spending on AI, although growth is not expected to match the pace of hyperscale and colocation [8] - **Regional Insights**: North America is leading in AI investments, while Asia shows encouraging growth, and Europe is lagging but has potential [10][11] Lead Times and Capacity - **Lead Times**: Average lead times remain around 12-18 months, but there is a trend of shrinking lead times due to operational improvements [16][18] - **Pipeline Visibility**: The company has visibility into projects extending beyond 12-18 months, indicating strong future demand [18] Technology Trends and Revenue Opportunities - **Revenue per Megawatt**: The revenue opportunity per megawatt remains in the range of $2.75 million to $3.5 million, with potential for higher density solutions [19][20] - **Innovation Focus**: Vertiv is focused on innovation in power and thermal management, with a strong emphasis on prefabrication and integrated systems [22][23] Competitive Positioning - **Market Share Gains**: Vertiv is gaining market share due to its strong legacy, innovation, and partnerships with key technology players [24][25] - **Service Differentiation**: The company emphasizes its service capabilities, with a highly experienced field engineer base and strong training programs [28][30] Financial Outlook - **Tariff Mitigation**: The company is confident in offsetting tariff costs by the end of 2025 through supply actions and pricing strategies [33][34] - **EBIT Margin Target**: Vertiv aims for a 25% EBIT margin by 2029, with a positive trajectory indicated by increasing operating margins [38] - **CapEx Plans**: Projected CapEx for 2025 is between $250 million and $300 million, with strong cash flow conversion expected [41][42] M&A Strategy - **M&A Potential**: With strong free cash flow, Vertiv is positioned to pursue both smaller and larger M&A opportunities to enhance its technology portfolio [45][46] - **Share Repurchase Strategy**: The company remains open to opportunistic share buybacks while balancing investments in growth and M&A [47] Additional Insights - **Operational Improvements in Europe**: The company is actively working on improving operations in Europe, where demand has been weaker compared to other regions [37] - **Long-term Strategy**: Vertiv's strategy includes a mix of organic growth, M&A, and share repurchases to maximize returns and capitalize on market opportunities [45][47]

Key Takeaways Vertiv benefits from strong orders, $8.5B backlog, and new launches like OneCore data center solutions.Amphenol expands with acquisitions and new liquid cooling connectors for AI data centers and EV charging.APH earnings estimates rose 59.79% year over year, outpacing VRT's 34.04% growth in 2025 projections.Vertiv (VRT) and Amphenol (APH) are major players in the AI Infrastructure space. While Vertiv delivers critical power and cooling solutions for data centers fueling the AI boom, Amphenol p ...

Core Viewpoint - Oklo, an AI-focused nuclear energy start-up, is experiencing significant stock growth, with shares up over 225% this year, driven by rising electricity usage and interest in nuclear energy [1][2]. Company Strategy - Oklo is uniquely targeting AI providers in its investment approach, differentiating itself from traditional nuclear companies that sell electricity to any willing buyer [3]. - The company has formed a collaboration with Vertiv to develop thermal management solutions for data centers powered by Oklo's nuclear plants, leveraging the heat generated by both systems [5]. Historical Context - Oklo went public in 2024 through a merger with AltC Acquisition, a SPAC led by OpenAI founder Sam Altman, who previously served as the board chair [6]. - The company has garnered attention from influential investors, including Cathie Wood's Ark Invest, and has received notable support from the Trump administration, which has promoted nuclear energy [7][8]. Government Support - The U.S. Department of Energy selected two Oklo projects for its Nuclear Reactor Pilot Program, with a goal to have three reactors operational by July 4, 2026, indicating strong governmental backing [9]. Market Potential - If Oklo successfully brings one of its small modular reactor (SMR) prototypes online by 2027 and secures orders from major AI companies, its share price could significantly increase, rewarding early investors [11].

Core Insights - Vertiv (VRT) shares have increased by 10.6% year to date, underperforming the broader Zacks Computer and Technology sector's growth of 14.1% due to a challenging macroeconomic environment [1] - The company has outperformed the Zacks Computers - IT Services industry, which has seen a decline of 15.3% during the same period [2] Stock Performance - Vertiv's backlog grew by 21% year over year to $8.5 billion, with a book-to-bill ratio of 1.2 for Q2 2025, indicating strong demand [5][10] - The revenue outlook for 2025 has been raised to between $9.93 billion and $10.08 billion, with organic growth projected at 23% to 25% [10][13] Product and Service Expansion - Vertiv launched Vertiv OneCore, a scalable prefabricated data center solution that integrates power, thermal, and IT infrastructure [7] - The company acquired Waylay NV to enhance its AI-driven monitoring and control capabilities for data centers [8] Partnerships and Collaborations - Vertiv's extensive partner base, including companies like NVIDIA and Intel, has been a significant growth driver [9] - Collaboration with Tecogen provides advanced natural gas-powered chiller technology, addressing power constraints for AI deployments [12] Earnings Estimates and Valuation - The Zacks Consensus Estimate for Q3 2025 earnings is 99 cents per share, reflecting a year-over-year increase of 30.26% [15] - Vertiv is currently trading at a trailing 12-month Price/Book ratio of 15.36X, indicating it is overvalued compared to the broader sector [17] Conclusion - Vertiv's strong portfolio and partner base are driving order growth, justifying its premium valuation [21]

Vertiv Holdings Co. (VRT) closed the most recent trading day at $127.73, moving -4.84% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.64%. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq decreased by 1.15%. The stock of company has fallen by 7.81% in the past month, lagging the Computer and Technology sector's gain of 2.91% and the S&P 500's gain of 1.91%.The investment community will be closely monitoring the perf ...

Core Insights - Vertiv (VRT) is experiencing strong organic order growth, with a 15% year-over-year increase and 11% sequential growth in Q2 2025, surpassing $3 billion in orders for the first time [1][10] - The company's backlog reached $8.5 billion, reflecting a 21% year-over-year increase and a 7% sequential increase, supported by a book-to-bill ratio of 1.2x [2][10] - Regional performance is a significant growth driver, with the Americas showing mid-40% growth, APAC with mid-30% growth, and EMEA delivering high single-digit growth [2][10] Company Performance - The trailing 12-month organic orders growth is at 11%, indicating sustained momentum [2] - Vertiv's collaborations with industry leaders like CoreWeave and Oklo demonstrate its commitment to innovation in data center infrastructure [3] - Recent acquisition of Waylay NV enhances Vertiv's AI-driven monitoring and control capabilities for data centers [4] Competitive Landscape - Vertiv faces stiff competition from ABB and Eaton, both expanding their capabilities in the data center infrastructure market [5] - ABB reported double-digit order growth in Q2 2025, driven by demand across multiple regions [6] - Eaton's data center orders surged approximately 55% year-over-year, with a 50% increase in sales in Q2 2025 compared to the previous year [7] Stock Performance and Valuation - Vertiv's shares have gained 18.2% year-to-date, outperforming the broader Zacks Computer & Technology sector, which appreciated 13.4% [8] - The stock is trading at a premium with a trailing 12-month Price/Book ratio of 16.40X compared to the sector's 10.21X [11] - The consensus estimate for 2025 earnings is $3.82 per share, reflecting a 34.04% increase from 2024 [13]