Comfort Systems USA, Inc. stock research
FY2024 Q2
Comfort Systems USA (FIX) Gross Margin — Quarter Ended Jun 30, 2024
Revenue, cost of revenue, and gross profit all increased compared to the prior quarter and the same quarter one year earlier. Gross margin improved over both periods, reflecting a larger share of revenue retained as gross profit.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue, cost of revenue, and gross profit all increased compared to the prior quarter and the same quarter one year earlier. Gross margin improved over both periods, reflecting a larger share of revenue retained as gross profit.
- The strongest observable margin driver is the improvement in gross margin, which was higher than both the prior quarter and the same quarter one year earlier.
- Compared to the prior quarter, revenue and gross profit were higher, and gross margin improved. Compared to the same quarter one year earlier, all metrics were higher, with gross margin showing a larger improvement.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
20.1%
Gross profit
$363.6M
Revenue
$1.8B
Cost of revenue
$1.4B
Quarter-over-quarter change
+0.7 pts
Year-over-year change
+2.5 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $1.4B | $277.5M | $1.1B | 20.1% |
| Dec 31, 2023 | $1.4B | $279.7M | $1.1B | 20.6% |
| Mar 31, 2024 | $1.5B | $297.4M | $1.2B | 19.3% |
| Jun 30, 2024 | $1.8B | $363.6M | $1.4B | 20.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+0.7 pts
Year-over-year change
Jun 30, 2023
+2.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the improvement in gross margin, which was higher than both the prior quarter and the same quarter one year earlier.
Compared to the prior quarter, revenue and gross profit were higher, and gross margin improved. Compared to the same quarter one year earlier, all metrics were higher, with gross margin showing a larger improvement.
Monitor the trend in gross margin to see if the improvement can be sustained as revenue continues to grow.