CF Industries Holdings, Inc. stock research
FY2024 Q3
CF Industries Holdings (CF) Gross Margin — Quarter Ended Sep 30, 2024
Revenue less cost of revenue produced a gross profit that was lower than the prior quarter but higher than the same quarter a year earlier. The resulting gross margin weakened sequentially while improving from the year-earlier period.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue less cost of revenue produced a gross profit that was lower than the prior quarter but higher than the same quarter a year earlier. The resulting gross margin weakened sequentially while improving from the year-earlier period.
- The margin was most affected by the combination of a lower revenue base and a higher cost of revenue compared with the immediately preceding quarter.
- Compared with the prior quarter, the gross margin was lower as revenue declined while cost of revenue increased. Compared with the same quarter one year ago, the gross margin was higher as revenue grew more than cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
32.4%
Gross profit
$444.0M
Revenue
$1.4B
Cost of revenue
$926.0M
Quarter-over-quarter change
-10.8 pts
Year-over-year change
+2.8 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 | $1.6B | $501.0M | $1.1B | 31.9% |
| Mar 31, 2024 | $1.5B | $409.0M | $1.1B | 27.8% |
| Jun 30, 2024 | $1.6B | $679.0M | $893.0M | 43.2% |
| Sep 30, 2024 | $1.4B | $444.0M | $926.0M | 32.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-10.8 pts
Year-over-year change
Sep 30, 2023
+2.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The margin was most affected by the combination of a lower revenue base and a higher cost of revenue compared with the immediately preceding quarter.
Compared with the prior quarter, the gross margin was lower as revenue declined while cost of revenue increased. Compared with the same quarter one year ago, the gross margin was higher as revenue grew more than cost of revenue.
Natural gas price trends, a risk factor cited in the company's filings, are a key item to monitor.