Vertiv Holdings Co recently released its 10-K report, providing a comprehensive overview of its business operations and financial performance. The company is a global leader in critical digital infrastructure technologies and life cycle services, serving data centers, communication networks, and commercial and industrial environments across the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Vertiv offers a wide range of products and services, including power management products, thermal management products, integrated rack systems, and lifecycle management services.
In the 10-K report, the company discusses its financial condition and results of operations for the year ended December 31, 2024. Vertiv reported a significant increase in net sales, reaching $8,011.8 million in 2024, a 16.7% increase from $6,863.2 million in 2023. The company attributes this growth primarily to higher sales volumes across its product and service offerings. Additionally, the report highlights the geographical breakdown of net sales, with $4,500.6 million in the Americas, $1,717.8 million in the Asia Pacific, and $1,793.4 million in Europe, the Middle East, and Africa.
The 10-K report also provides a detailed analysis of the company's operating expenses. In 2024, Vertiv reported cost of sales amounting to $5,077.6 million, representing a 13.8% increase from the previous year. The gross profit for 2024 was $2,934.2 million, accounting for 36.6% of sales, compared to $2,400.5 million, or 35.0% of sales in 2023. The report also discusses selling, general, and administrative expenses (SG&A), which totaled $1,374.0 million in 2024, reflecting a 4.7% increase from 2023.
Moreover, the 10-K report delves into the company's business segments, providing a breakdown of net sales and operating profits for the Americas, Asia Pacific, and Europe, the Middle East, and Africa. The report highlights the growth in net sales and operating profits across these segments, demonstrating the company's global presence and performance.
Vertiv's 10-K report also addresses its capital resources and liquidity, emphasizing its future cash needs, capital expenditures, and debt obligations. The company's cash and cash equivalents totaled $1,227.6 million at the end of 2024, with additional discussions on indebtedness arrangements, including the Senior Secured Notes, Term Loan, and ABL Revolving Credit Facility.
Following these announcements, the company's shares moved 2.4%, and are now trading at a price of $110.61. Check out the company's full 10-K submission here.
