EMCOR Group, Inc. stock research
FY2024 Q2
EMCOR Group (EME) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin improved, reflecting that gross profit grew at a faster pace than cost of revenue.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin improved, reflecting that gross profit grew at a faster pace than cost of revenue.
- The most observable driver of margin improvement was the increase in gross profit relative to revenue, which outpaced the growth in cost of revenue.
- Compared to the immediately preceding quarter, gross margin was higher; versus the same quarter one year earlier, gross margin also showed an improvement.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
18.7%
Gross profit
$684.0M
Revenue
$3.7B
Cost of revenue
$3.0B
Quarter-over-quarter change
+1.5 pts
Year-over-year change
+2.6 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $3.2B | $545.5M | $2.7B | 17.0% |
| Dec 31, 2023 | $3.4B | $617.7M | $2.8B | 18.0% |
| Mar 31, 2024 | $3.4B | $589.3M | $2.8B | 17.2% |
| Jun 30, 2024 | $3.7B | $684.0M | $3.0B | 18.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+1.5 pts
Year-over-year change
Jun 30, 2023
+2.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver of margin improvement was the increase in gross profit relative to revenue, which outpaced the growth in cost of revenue.
Compared to the immediately preceding quarter, gross margin was higher; versus the same quarter one year earlier, gross margin also showed an improvement.
Monitor how the acquisition contribution to revenue, as noted in the filing, influences future gross margins.