Shares of critical digital infrastructure and continuity solutions provider Vertiv Holdings Co. (VRT) are climbing more than 3% Wednesday morning after its third-quarter results came in better than the consensus estimates.
Third-quarter net loss was $15.8 million or $0.05 per share narrower than $13.7 million $0.12 per share loss in the same quarter a year ago.
Adjusted EPS of $0.32 per share beat the average estimate of 7 analysts polled by Thomson Reuters at $0.27 per share.
Vertiv reported third-quarter net sales of $1.162 billion, an increase of 8.5%, from last year’s third quarter thanks to continued strong demand from cloud and colocation market segments. The consensus estimate was for $1.11 billion.
For the fourth quarter, the company expects net sales to be in the range of $1.240 billion to $1.265 billion and adjusted EPS to be in the range of $0.32 to $0.35. Analysts see earnings of $0.34 per share on revenue of $1.26 billion for the quarter.
VRT stock is currently trading at$18.17, close to its 52 week high of $19.18.
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