Vertiv Holdings Co (VRT), a maker of power, cooling and IT infrastructure for data centers, reported third-quarter net sales of $4,313 million, 61% higher than a year earlier, after second-quarter sales of $3,274 million had risen 24% from the year-ago period.

Organic sales growth accelerated to 55% in the third quarter from 18% in the second quarter, with acquisitions contributing about 6% of the third-quarter increase. The company said growth was broad-based across all regions.

Americas net sales were $2,988.8 million, up 74.5% (66.2% organic) from a year earlier. APAC sales were $779.3 million, up 49.9% (48.3% organic). EMEA sales were $544.7 million, up 22.8% (19.3% organic).

Products sales were $3,593.8 million, up 65.8% (63.6% organic). Services and spares were $719.0 million, up 41.5% (18.1% organic).

Operating profit was $984 million, up 90% from the third quarter of 2025. Adjusted operating profit was $1,087 million, up 83%. Adjusted operating margin expanded to 25.2%, up 290 basis points from a year earlier, after 22.6% in the second quarter. The company said the margin increase was driven by operational leverage on higher sales and manufacturing productivity, partially offset by mix impacts and continued growth investments.

Adjusted operating profit by region was $877.3 million in the Americas, $132.4 million in APAC and $152.3 million in EMEA. Adjusted operating margins were 29.4% in the Americas, 17.0% in APAC and 28.0% in EMEA.

Diluted earnings were $1.95 a share, up 91% from the third quarter of 2025. Adjusted diluted EPS grew 78% to $2.21.

Net cash from operations was $794 million, up 64%. Adjusted free cash flow was $652 million, up 50%. The company said the cash flow was driven by higher adjusted operating profit, partially offset by increased working capital and higher capital expenditures to support growth. Liquidity increased to $6.2 billion, with a net cash position maintained. Capital expenditures for full-year 2026 are still anticipated at approximately 4.0% of revenue.

Chief Executive Officer Giordano Albertazzi said the company is in the middle of the largest infrastructure buildout and that it is accelerating, and cited more than 100% organic orders growth year over year.

Vertiv raised full-year 2026 net sales guidance to a $14,450 million–$14,850 million range, a $14,650 million midpoint implying 38% organic growth, from the $14,000 million midpoint (31% organic) given after the second quarter. Full-year diluted EPS is expected at $6.29 and adjusted diluted EPS at $7.15, each at the midpoint, an increase of 84% and 70%, respectively, compared with full-year 2025. Adjusted operating profit is guided at $3,475 million–$3,555 million, with adjusted operating margin of 23.5%–24.5% and adjusted free cash flow of $2,600 million–$2,800 million.

For the fourth quarter of 2026, Vertiv expects net sales of $4,313 million–$4,513 million, a $4,413 million midpoint implying 50% organic growth versus the fourth quarter of 2025. Adjusted diluted EPS is expected at $2.22–$2.28, a $2.25 midpoint implying 65% growth. Diluted EPS is expected at $2.08, an 82% increase. Adjusted operating profit is guided at $1,118 million–$1,158 million, with adjusted operating margin of 25.3%–26.3%.

The company said the data center market continues to generate strong, broad-based global demand, and that it continues to expand capacity and invest in next-generation technology.