Aptiv PLC stock research
FY2024 Q2
Aptiv (APTV) Gross Margin — Quarter Ended Jun 30, 2024
Revenue increased from the prior quarter while gross profit grew at a faster rate, leading to an improved gross margin. Compared to the same quarter last year, revenue was lower but gross profit was higher and cost of revenue was lower, resulting in a stronger gross margin.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue increased from the prior quarter while gross profit grew at a faster rate, leading to an improved gross margin. Compared to the same quarter last year, revenue was lower but gross profit was higher and cost of revenue was lower, resulting in a stronger gross margin.
- The strongest observable driver of margin improvement was the combined effect of a larger increase in gross profit relative to revenue sequentially and a decline in cost of revenue year-over-year, which together lifted the gross margin.
- The current quarter's gross margin was higher than both the immediately preceding quarter and the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
19.2%
Gross profit
$968.0M
Revenue
$5.1B
Cost of revenue
$4.1B
Quarter-over-quarter change
+1.2 pts
Year-over-year change
+2.5 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 |
|---|---|---|---|---|
| Jun 30, 2023 | $5.2B | $864.0M | $4.3B | 16.6% |
| Sep 30, 2023 | $5.1B | $893.0M | $4.2B | 17.5% |
| Mar 31, 2024 | $4.9B | $878.0M | $4.0B | 17.9% |
| Jun 30, 2024 | $5.1B | $968.0M | $4.1B | 19.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+1.2 pts
Year-over-year change
Jun 30, 2023
+2.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver of margin improvement was the combined effect of a larger increase in gross profit relative to revenue sequentially and a decline in cost of revenue year-over-year, which together lifted the gross margin.
The current quarter's gross margin was higher than both the immediately preceding quarter and the same quarter one year earlier.
The trajectory of cost of revenue relative to revenue should be monitored, as it declined year-over-year but increased sequentially.