Stock Story -
Data center products and services company Vertiv (NYSE:VRT) will be reporting results tomorrow before the bell. Here's what to expect.
Vertiv met analysts' revenue expectations last quarter, reporting revenues of $1.64 billion, up 7.8% year on year. It was a slower quarter for the company, with a miss of analysts' earnings estimates and full-year revenue guidance missing analysts' expectations.
Is Vertiv a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Vertiv's revenue to grow 11.8% year on year to $1.94 billion, slowing from the 23.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.57 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Vertiv has missed Wall Street's revenue estimates three times over the last two years.
Looking at Vertiv's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Acuity Brands's revenues decreased 3.2% year on year, missing analysts' expectations by 2.9%, and Badger Meter reported revenues up 23.2%, topping estimates by 6.5%. Acuity Brands's stock price was unchanged after the resultswhile Badger Meter was up 3.7%.
Read the full analysis of Acuity Brands's and Badger Meter's results on StockStory.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 6.5% on average over the last month. Vertiv is down 1.5% during the same time and is heading into earnings with an average analyst price target of $103.3 (compared to the current share price of $87.82).
