Vertiv Holdings Co. reported third quarter 2025 net sales of $2.676 billion, representing an increase of $602 million, or 29%, compared to the third quarter of 2024. Organic net sales rose 28% year-over-year. Third quarter organic orders increased approximately 60% from the prior year period and 20% sequentially from the second quarter of 2025. Trailing twelve-month organic orders were up 21% compared to the previous year. Operating profit for the third quarter was $517 million, up 39% from the same period in 2024. Adjusted operating profit was $596 million, a 43% increase from the third quarter of 2024. The adjusted operating margin reached 22.3%, up 220 basis points from the third quarter of 2024 and 380 basis points sequentially from the second quarter of 2025. Liquidity at the end of the quarter was $2.7 billion, and net leverage was approximately 0.5x. Moody's Investors Service upgraded Vertiv's credit rating to Ba1 from Ba2 during the quarter.