The company said net sales for 2023 were $6,863.2 (in millions), up $1,171.7, or 20.6%, from $5,691.5 a year earlier. Gross profit was $2,400.5, or 35.0% of sales, and 2022 was 28.4%.

1. 01

   The company said net sales for 2023 were $6,863.2 (in millions), up $1,171.7, or 20.6%, from $5,691.5 a year earlier. Gross profit was $2,400.5, or 35.0% of sales, and 2022 was 28.4%.

2. 02

   Vertiv said Americas net sales for 2023 rose to $3,844.5, up $1,115.9 (40.9%). Asia Pacific net sales fell to $1,527.8, down $73.5 (4.6%). Europe, Middle East & Africa net sales increased to $1,490.9, up $129.3 (9.5%).

3. 03

   The company said net cash provided by operating activities was $900.5 (in millions) in 2023, an increase of $1,053.3 from 2022. Cash and cash equivalents were $780.4 as of December 31, 2023.

4. 04

   The company announced on November 29, 2023 an authorization of a stock repurchase program of up to $3.0 billion of Class A common stock through December 31, 2027. The company said the program does not obligate it to repurchase any specific dollar amount or number of shares.

Key figures

Fiscal year ended December 31, 2023

Revenue

$6.9B

Operating income

$872M

Net income

$460M

EPS

$1.19

Operating cash flow

$901M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.