Corteva, Inc. stock research
FY2024 Q3
Corteva (CTVA) Gross Margin — Quarter Ended Sep 30, 2024
This quarter's revenue was lower than both the prior quarter and the same quarter last year. Gross profit also decreased, resulting in a weakened gross margin compared to both periods.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
This quarter's revenue was lower than both the prior quarter and the same quarter last year. Gross profit also decreased, resulting in a weakened gross margin compared to both periods.
- The most notable factor was that cost of revenue remained at a similar level to the year-ago quarter while revenue declined, which compressed gross margin.
- Compared to the prior quarter, revenue and gross profit both fell sharply, and gross margin weakened significantly. Versus the same quarter last year, revenue and gross profit were lower, and gross margin also declined.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
32.7%
Gross profit
$761.0M
Revenue
$2.3B
Cost of revenue
$1.6B
Quarter-over-quarter change
-19.5 pts
Year-over-year change
-3.7 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 | $3.7B | $1.3B | $2.4B | 36.2% |
| Mar 31, 2024 | $4.5B | $1.9B | $2.5B | 43.2% |
| Jun 30, 2024 | $6.1B | $3.2B | $2.9B | 52.3% |
| Sep 30, 2024 | $2.3B | $761.0M | $1.6B | 32.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-19.5 pts
Year-over-year change
Sep 30, 2023
-3.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most notable factor was that cost of revenue remained at a similar level to the year-ago quarter while revenue declined, which compressed gross margin.
Compared to the prior quarter, revenue and gross profit both fell sharply, and gross margin weakened significantly. Versus the same quarter last year, revenue and gross profit were lower, and gross margin also declined.
Monitor the trend of cost of revenue in relation to revenue, as its relative stability may continue to pressure margins.