W.W. Grainger, Inc. stock research
FY2024 Q2
W.W. Grainger (GWW) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin was stable year-over-year but slightly lower than the preceding quarter.
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, while cost of revenue also rose. Gross margin was stable year-over-year but slightly lower than the preceding quarter.
- The year-over-year increase in gross profit was accompanied by a proportional rise in cost of revenue, keeping gross margin unchanged. The slight sequential decline in margin reflects a marginally faster growth in cost of revenue relative to revenue.
- Compared to the immediately preceding quarter, gross margin was slightly lower. Compared to the same quarter one year earlier, gross margin was stable.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
39.3%
Gross profit
$1.7B
Revenue
$4.3B
Cost of revenue
$2.6B
Quarter-over-quarter change
-0.1 pts
Year-over-year change
-0.0 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 | $4.2B | $1.7B | $2.6B | 39.3% |
| Dec 31, 2023 | $4.0B | $1.6B | $2.4B | 39.1% |
| Mar 31, 2024 | $4.2B | $1.7B | $2.6B | 39.4% |
| Jun 30, 2024 | $4.3B | $1.7B | $2.6B | 39.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
-0.1 pts
Year-over-year change
Jun 30, 2023
-0.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The year-over-year increase in gross profit was accompanied by a proportional rise in cost of revenue, keeping gross margin unchanged. The slight sequential decline in margin reflects a marginally faster growth in cost of revenue relative to revenue.
Compared to the immediately preceding quarter, gross margin was slightly lower. Compared to the same quarter one year earlier, gross margin was stable.
Monitor the trend in cost of revenue relative to revenue, as any divergence could affect gross margin stability.