AMETEK, Inc. stock research
FY2024 Q2
AMETEK (AME) Gross Margin — Quarter Ended Jun 30, 2024
Revenue was stable compared to the previous quarter and higher than the same quarter last year. Gross profit increased sequentially, resulting in an improved gross margin, while the year-over-year gross margin remained stable.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue was stable compared to the previous quarter and higher than the same quarter last year. Gross profit increased sequentially, resulting in an improved gross margin, while the year-over-year gross margin remained stable.
- The primary driver of the sequential margin improvement was the increase in gross profit with no change in cost of revenue.
- Sequentially, gross margin improved from the prior quarter. Year-over-year, gross margin was stable.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
36.0%
Gross profit
$624.4M
Revenue
$1.7B
Cost of revenue
$1.1B
Quarter-over-quarter change
+1.9 pts
Year-over-year change
-0.0 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $1.6B | $601.9M | $1.0B | 37.1% |
| Dec 31, 2023 | $1.7B | $615.0M | $1.1B | 35.5% |
| Mar 31, 2024 | $1.7B | $591.5M | $1.1B | 34.1% |
| Jun 30, 2024 | $1.7B | $624.4M | $1.1B | 36.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+1.9 pts
Year-over-year change
Jun 30, 2023
-0.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The primary driver of the sequential margin improvement was the increase in gross profit with no change in cost of revenue.
Sequentially, gross margin improved from the prior quarter. Year-over-year, gross margin was stable.
Monitor whether cost of revenue remains stable as revenue trends higher.