EMCOR Group, Inc. stock research
FY2023 Q1
EMCOR Group (EME) Gross Margin — Quarter Ended Mar 31, 2023
Revenue was stable compared to the preceding quarter but higher than the same quarter one year earlier. Gross profit was lower than the previous quarter and higher than a year ago, while cost of revenue was similar to the prior quarter and higher than the year-ago period. Consequently, gross margin weakened from the prior quarter but improved from the same quarter last year.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue was stable compared to the preceding quarter but higher than the same quarter one year earlier. Gross profit was lower than the previous quarter and higher than a year ago, while cost of revenue was similar to the prior quarter and higher than the year-ago period. Consequently, gross margin weakened from the prior quarter but improved from the same quarter last year.
- The most observable margin driver is the year-over-year improvement in gross margin, which was higher than the same quarter one year earlier. This improvement was accompanied by higher revenue and gross profit compared to the prior year, while the sequential comparison showed a slight weakening.
- Gross margin was lower than the immediately preceding quarter but higher than the same quarter one year earlier. Revenue was stable sequentially, while gross profit declined from the prior quarter and increased from the year-ago quarter.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
15.1%
Gross profit
$436.1M
Revenue
$2.9B
Cost of revenue
$2.5B
Quarter-over-quarter change
n/a
Year-over-year change
+1.5 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 | $2.9B | $436.1M | $2.5B | 15.1% |
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
+1.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable margin driver is the year-over-year improvement in gross margin, which was higher than the same quarter one year earlier. This improvement was accompanied by higher revenue and gross profit compared to the prior year, while the sequential comparison showed a slight weakening.
Gross margin was lower than the immediately preceding quarter but higher than the same quarter one year earlier. Revenue was stable sequentially, while gross profit declined from the prior quarter and increased from the year-ago quarter.
Monitor the trend in cost of revenue relative to revenue, given the company's filing context citing inflationary pressures and supply chain challenges as ongoing risks.