Vertiv Holdings Co (NYSE:VRT) Q3 2022 Earnings Conference Call October 26, 2022 11:00 AM ET

Company Participants

Lynne Maxeiner - VP. IR

Dave Cote - Executive Chairman

Rob Johnson - CEO

David Fallon - CFO

Giordano Albertazzi - Chief Operating Officer and President, Americas

Conference Call Participants

Andy Kaplowitz - Citigroup

Steve Tusa - JPMorgan

Jeff Sprague - Vertical Research Partners

Scott Davis - Melius Research

Amit Daryanani - Evercore

Nicole DeBlase - Deutsche Bank

Mark Delaney - Goldman Sachs

Lance Vitanza - Cowen

Andrew Obin - Bank of America

Operator

Good morning. My name is Bailey, and I will be your conference operator today. At this time, I'd like to welcome everyone to Vertiv's Third Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise and please note, this call is being recorded.

I would now like to turn the program over to your host for today's conference call, Lynne Maxeiner, Vice President of Investor Relations. Please go ahead.

Lynne Maxeiner

Thank you, Bailey. Good morning, and welcome to Vertiv's third quarter 2022 earnings conference call. Joining me today are Vertiv's Executive Chairman, Dave Cote; Chief Executive Officer, Rob Johnson; Chief Financial Officer, David Fallon; and Chief Operating Officer and President, Americas, Giordano Albertazzi.

Before we begin, I point out that during the course of this call, we will make forward-looking statements regarding future events, including the future financial and operating performance of Vertiv. These forward-looking statements are subject to material risks and uncertainties and could cause actual results to differ materially from those in the forward-looking statements. We refer you to the cautionary language included in today's earnings release, and you can learn more about these risks in our annual and quarterly reports and other filings with the SEC.

Any forward-looking statements that we make today are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.

During this call, we will also present both GAAP and non-GAAP financial measures. Our GAAP results and GAAP to non-GAAP reconciliations can be found in our earnings press release and in the investor slide deck found on our website at investors.vertiv.com.

With that, I'll turn the call over to Executive Chairman, Dave Cote.

Dave Cote

Our third quarter performance continues to support the profile of improvement that we presented in February of this year. Our financial performance escalated in the third quarter, as we anticipated, helped by a record level of price that was realized as quarter. We are doing things differently, especially in the Americas, and we are seeing that translate to an improved financial performance. I know demand is becoming a bigger question for all companies given the macroeconomic environment. Demand win was strong for Vertiv, the data center end market as a true secular demand story, data is just going to continue to grow.