CRH plc stock research
FY2024 Q1
CRH (CRH) Gross Margin — Quarter Ended Mar 31, 2024
Revenue and gross profit both increased compared to the same quarter one year earlier, while cost of revenue was slightly lower, resulting in a higher gross margin. Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all lower, while cost of revenue also decreased.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue and gross profit both increased compared to the same quarter one year earlier, while cost of revenue was slightly lower, resulting in a higher gross margin. Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all lower, while cost of revenue also decreased.
- The gross margin improved relative to the same quarter last year, driven by a combination of higher revenue and lower cost of revenue. The sequential decline from the prior quarter reflects a typical seasonal pattern where revenue and gross profit are lower.
- Compared to the prior quarter, gross margin weakened, with revenue and gross profit both lower. Versus the same quarter one year earlier, gross margin improved, supported by higher revenue and a slight reduction in cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
27.7%
Gross profit
$1.8B
Revenue
$6.5B
Cost of revenue
$4.7B
Quarter-over-quarter change
-6.3 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 | $9.7B | $3.6B | $6.1B | 37.4% |
| Sep 30, 2023 | $10.1B | $3.8B | $6.4B | 37.2% |
| Dec 31, 2023 | $8.7B | $3.0B | $5.7B | 34.0% |
| Mar 31, 2024 | $6.5B | $1.8B | $4.7B | 27.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
-6.3 pts
Year-over-year change
Mar 31, 2023
+2.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved relative to the same quarter last year, driven by a combination of higher revenue and lower cost of revenue. The sequential decline from the prior quarter reflects a typical seasonal pattern where revenue and gross profit are lower.
Compared to the prior quarter, gross margin weakened, with revenue and gross profit both lower. Versus the same quarter one year earlier, gross margin improved, supported by higher revenue and a slight reduction in cost of revenue.
Monitor the trajectory of cost of revenue relative to revenue in upcoming quarters to assess margin sustainability.