GE Vernova Inc. stock research
FY2024 Q2
GE Vernova (GEV) Gross Margin — Quarter Ended Jun 30, 2024
Revenue increased while gross profit grew more sharply, resulting in an improved gross margin. Cost of revenue rose at a slower rate than revenue versus the prior quarter and declined compared to the same quarter last year.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue increased while gross profit grew more sharply, resulting in an improved gross margin. Cost of revenue rose at a slower rate than revenue versus the prior quarter and declined compared to the same quarter last year.
- The primary driver of margin improvement was the favorable relationship between revenue and cost of revenue, with cost of revenue increasing less than revenue sequentially and decreasing year-over-year.
- Compared to the prior quarter, revenue and gross profit were higher and gross margin improved. Compared to the same quarter one year earlier, revenue was slightly higher, gross profit was significantly higher, cost of revenue was lower, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
20.7%
Gross profit
$1.7B
Revenue
$8.2B
Cost of revenue
$6.5B
Quarter-over-quarter change
+4.9 pts
Year-over-year change
+6.6 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 | $8.3B | $1.1B | $7.2B | 12.7% |
| Dec 31, 2023 | $10.0B | $1.7B | $8.3B | 16.9% |
| Mar 31, 2024 | $7.3B | $1.1B | $6.1B | 15.8% |
| Jun 30, 2024 | $8.2B | $1.7B | $6.5B | 20.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+4.9 pts
Year-over-year change
Jun 30, 2023
+6.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The primary driver of margin improvement was the favorable relationship between revenue and cost of revenue, with cost of revenue increasing less than revenue sequentially and decreasing year-over-year.
Compared to the prior quarter, revenue and gross profit were higher and gross margin improved. Compared to the same quarter one year earlier, revenue was slightly higher, gross profit was significantly higher, cost of revenue was lower, and gross margin improved.
Monitor the arbitration refund and the Vineyard Wind offshore wind farm referenced in the filing, as they may affect future cost or revenue trends.