Crown Castle Inc. stock research
FY2023 Q3
Crown Castle (CCI) Gross Margin — Quarter Ended Sep 30, 2023
Revenue, gross profit, and gross margin all declined compared to both the prior quarter and the same quarter last year. The cost of revenue decreased less proportionally than revenue, resulting in a lower gross margin.
Gross margin takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue, gross profit, and gross margin all declined compared to both the prior quarter and the same quarter last year. The cost of revenue decreased less proportionally than revenue, resulting in a lower gross margin.
- The decline in gross margin was primarily driven by a larger relative decrease in revenue compared to the reduction in cost of revenue.
- Compared to the prior quarter, gross margin weakened from a higher level to a lower level. Versus the same quarter one year ago, gross margin also weakened from a higher level.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
26.7%
Gross profit
$24.0M
Revenue
$90.0M
Cost of revenue
$66.0M
Quarter-over-quarter change
-2.8 pts
Year-over-year change
-6.5 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 |
|---|---|---|---|---|
| Mar 31, 2023 | $149.0M | $45.0M | $104.0M | 30.2% |
| Jun 30, 2023 | $139.0M | $41.0M | $98.0M | 29.5% |
| Sep 30, 2023 | $90.0M | $24.0M | $66.0M | 26.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
-2.8 pts
Year-over-year change
Sep 30, 2022
-6.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The decline in gross margin was primarily driven by a larger relative decrease in revenue compared to the reduction in cost of revenue.
Compared to the prior quarter, gross margin weakened from a higher level to a lower level. Versus the same quarter one year ago, gross margin also weakened from a higher level.
Monitor the trend in revenue relative to cost of revenue, as the current quarter shows a less favorable relationship.