Cummins (CMI) Gross Margin — Quarter Ended Mar 31, 2023

In the current quarter, revenue, gross profit, and cost of revenue all increased compared to both the prior quarter and the same quarter last year. Gross margin was stable relative to the year-ago quarter and improved compared to the immediately preceding quarter.

Gross margin takeaway

Quarter ended Mar 31, 2023 · FY2023 Q1

The strongest observable margin driver is the sequential improvement in gross margin, which rose from the prior quarter's level while remaining consistent with the year-ago period.
Compared to the previous quarter, gross margin was higher; versus the same quarter one year earlier, gross margin was unchanged.

Gross margin snapshot

The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.

Gross margin

24.0%

Gross profit

$2.0B

Revenue

$8.5B

Cost of revenue

$6.4B

Quarter-over-quarter change

n/a

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
Mar 31, 2023	$8.5B	$2.0B	$6.4B	24.0%

Quarterly comparisons

Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.

Previous-quarter change

Previous quarter unavailable

n/a

Year-over-year change

Mar 31, 2022

+0.0 pts

What the margin says

Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.

The strongest observable margin driver is the sequential improvement in gross margin, which rose from the prior quarter's level while remaining consistent with the year-ago period.

Compared to the previous quarter, gross margin was higher; versus the same quarter one year earlier, gross margin was unchanged.

Monitor the relative growth rates of revenue and cost of revenue to assess margin sustainability.