Edwards Lifesciences Corporation stock research
FY2024 Q3
Edwards Lifesciences (EW) Gross Margin — Quarter Ended Sep 30, 2024
Revenue was stable compared to the prior quarter, while gross profit improved slightly as cost of revenue declined. Gross margin strengthened relative to the previous quarter but weakened modestly versus the same quarter one year earlier.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue was stable compared to the prior quarter, while gross profit improved slightly as cost of revenue declined. Gross margin strengthened relative to the previous quarter but weakened modestly versus the same quarter one year earlier.
- The reduction in cost of revenue relative to the prior quarter was the primary observable factor supporting the gross margin improvement, as revenue remained unchanged.
- Compared to the immediately preceding quarter, gross margin was higher, driven by lower cost of revenue on flat revenue. Versus the same quarter one year earlier, gross margin was lower, as revenue grew but cost of revenue increased at a faster pace.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
80.6%
Gross profit
$1.1B
Revenue
$1.4B
Cost of revenue
$262.9M
Quarter-over-quarter change
+0.7 pts
Year-over-year change
-0.3 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 | $1.2B | $978.9M | $250.6M | 80.9% |
| Mar 31, 2024 | $1.3B | $1.0B | $286.9M | 78.4% |
| Jun 30, 2024 | $1.4B | $1.1B | $275.5M | 79.9% |
| Sep 30, 2024 | $1.4B | $1.1B | $262.9M | 80.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
+0.7 pts
Year-over-year change
Sep 30, 2023
-0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The reduction in cost of revenue relative to the prior quarter was the primary observable factor supporting the gross margin improvement, as revenue remained unchanged.
Compared to the immediately preceding quarter, gross margin was higher, driven by lower cost of revenue on flat revenue. Versus the same quarter one year earlier, gross margin was lower, as revenue grew but cost of revenue increased at a faster pace.
Monitor the trajectory of cost of revenue, as its sequential decline was the key factor behind the gross margin improvement this quarter.