Vertiv (VRT) Rides on AI-Driven Order Growth: Is the Stock a Buy?

In the first quarter of 2024, orders jumped 60% year over year while backlog surged roughly 33% to $6.3 billion. Most of these orders will be delivered beyond 2024. For the second quarter of 2024, Vertiv expects revenues between$ 1.9 billion and $1.95 billion, indicating an organic growth rate of 11-13% year over year. Non-GAAP earnings are expected between 53 cents and 57 cents per share. The Zacks Consensus Estimate for 2024 revenues is pegged at$ 7.72 billion, indicating year-over-year growth of 12.46%. ...