Vertiv Holdings, Hilton Worldwide term loans inch higher with earnings announcements

By Sara Rosenberg

New York, Oct. 26 – Vertiv Holdings Co. saw its term loan strengthen in trading on Wednesday following the release of third quarter numbers that showed better-than-expected earnings per share and net sales.

Vertiv’s term loan moved up to 95½ bid, 96½ offered from 95¼ bid, 96¼ offered after the company disclosed third quarter earnings, according to a market source.

For the quarter, the company reported diluted earnings per share of $0.06, versus $0.15 in the third quarter of 2021, and net income of $21.2 million, compared to net income of $56.2 million in the prior year. Non-GAAP adjusted diluted earnings per share for the quarter were $0.23, up from $0.20 in the comparable 2021 period, and non GAAP adjusted net income was $85.2 million, up from $73.3 million last year.

Net sales for the quarter were $1.481 billion, up 20.5% from $1.229 billion in the third quarter of 2021.

Also, Hilton Worldwide Holdings Inc.’s term loan gained some ground in the secondary market after the company announced its quarterly results.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.