Critical digital infrastructure and continuity solutions provider Vertiv Holdings reported the full year 2019 net sales of $4.4 billion, 3.4% higher than the prior year, and 5.6% higher on an organic basis when adjusted for changes in foreign currency exchange rates. Full-year 2019 net loss of $141 million declined 55% and adjusted EBITDA of $542 million increased 7.8% from 2018 driven by the higher sales and a 50 basis point improvement in adjusted EBITDA margin to 12.2%.
The negative impact from the coronavirus
The company also stated in a post they shared,
“Our 2020 financial guidance is based upon information as of the date of this release including the first quarter and the full-year impact of the coronavirus. Despite the projected first-quarter $70 million to $90 million net sales and $28 million to $36 million adjusted EBITDA negative impact from the coronavirus, based upon what we know today we are confirming our previously communicated 2020 financial guidance due to our expectation to partially recover these first-quarter sales and earnings, our conservative planning process and additional cost actions we have put in place.
Our 2020 guidance for adjusted earnings per share assumes $135 million net interest expense, $81 million income tax expense and 336 million proforma average diluted shares in addition to various adjustments detailed on page 16 of this release. Our 2020 free cash flow guidance assumes capital expenditures of $70 million to $80 million.”