EQT Corporation stock research
FY2023 Q3
EQT (EQT) Gross Margin — Quarter Ended Sep 30, 2023
Revenue and gross profit increased compared to the previous quarter, while cost of revenue rose modestly, leading to an improved gross margin. When compared to the same quarter one year earlier, revenue and gross profit were substantially lower, and gross margin weakened.
Gross margin takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue and gross profit increased compared to the previous quarter, while cost of revenue rose modestly, leading to an improved gross margin. When compared to the same quarter one year earlier, revenue and gross profit were substantially lower, and gross margin weakened.
- The most observable margin driver was the increase in revenue relative to cost of revenue, which resulted in a higher gross profit and an improved gross margin compared to the prior quarter.
- Gross margin improved from the prior quarter but was lower than the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
53.2%
Gross profit
$631.3M
Revenue
$1.2B
Cost of revenue
$554.8M
Quarter-over-quarter change
+14.9 pts
Year-over-year change
-32.1 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 | $1.8B | $1.3B | $515.0M | 71.9% |
| Jun 30, 2023 | $848.3M | $325.2M | $523.2M | 38.3% |
| Sep 30, 2023 | $1.2B | $631.3M | $554.8M | 53.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
+14.9 pts
Year-over-year change
Sep 30, 2022
-32.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable margin driver was the increase in revenue relative to cost of revenue, which resulted in a higher gross profit and an improved gross margin compared to the prior quarter.
Gross margin improved from the prior quarter but was lower than the same quarter one year earlier.
Monitor the relationship between revenue and cost of revenue, as changes in this ratio directly affect gross margin.