Albemarle Corporation stock research
FY2024 Q3
Albemarle (ALB) Gross Margin — Quarter Ended Sep 30, 2024
Revenue was stable compared to the prior quarter but lower than the same quarter last year. Gross profit turned negative, and gross margin weakened, as cost of revenue exceeded revenue.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue was stable compared to the prior quarter but lower than the same quarter last year. Gross profit turned negative, and gross margin weakened, as cost of revenue exceeded revenue.
- The most observable driver is the relationship between cost of revenue and revenue; cost of revenue was higher than revenue, leading to a negative gross margin.
- Compared to the immediately preceding quarter, gross profit was lower and gross margin weakened. Compared to the same quarter one year earlier, revenue was lower, gross profit was lower, and gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
-7.7%
Gross profit
-$104.0M
Revenue
$1.4B
Cost of revenue
$1.5B
Quarter-over-quarter change
-6.9 pts
Year-over-year change
-10.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Dec 31, 2023 | $2.4B | -$704.1M | $3.1B | -29.9% |
| Mar 31, 2024 | $1.4B | $38.9M | $1.3B | 2.9% |
| Jun 30, 2024 | $1.4B | -$10.6M | $1.4B | -0.7% |
| Sep 30, 2024 | $1.4B | -$104.0M | $1.5B | -7.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-6.9 pts
Year-over-year change
Sep 30, 2023
-10.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver is the relationship between cost of revenue and revenue; cost of revenue was higher than revenue, leading to a negative gross margin.
Compared to the immediately preceding quarter, gross profit was lower and gross margin weakened. Compared to the same quarter one year earlier, revenue was lower, gross profit was lower, and gross margin weakened.
Monitor the trajectory of cost of revenue relative to revenue, as it has exceeded revenue in the current quarter.