BREAKING: Trump Hikes Canada Tariff; Huge Earnings, Fed, Xi Ahead Data center infrastructure provider Vertiv (VRT) is on a roll thanks to the buildout of artificial intelligence capacity. Vertiv stock notched a record high on Friday. The Westerville, Ohio-based company delivered a beat-and-raise earnings report on Wednesday. Vertiv's adjusted earnings rose 63% year over year to $1.24 a share in the third quarter. Its sales advanced 29% to $2.68 billion. Vertiv provides power, cooling and other infrastructur ...

Core Insights - Vertiv reported strong third-quarter earnings, exceeding analyst expectations with adjusted earnings of $1.24 per share on sales of $2.68 billion, compared to expectations of 98 cents per share on $2.58 billion in sales [2][3] - The company experienced a significant increase in orders, with a 60% year-over-year growth and a 20% sequential increase from the second quarter [2] - For the current quarter, Vertiv anticipates adjusted earnings of $1.26 per share on sales of $2.85 billion, slightly above analyst projections [3] Financial Performance - Vertiv's third-quarter sales grew by 29% year-over-year, reflecting strong market demand and a robust competitive position [4] - The company built a significant backlog, indicating future growth potential [4] Market Position - Vertiv is recognized as a leader in the Electrical-Power/Equipment industry, tied for first place with nVent Electric, both holding an IBD Composite Rating of 99 [4][5] - The company is featured on three IBD lists: IBD 50, Big Cap 20, and Leaderboard, highlighting its strong market presence [5]