Hubbell Incorporated stock research
FY2024 Q3
Hubbell (HUBB) Gross Margin — Quarter Ended Sep 30, 2024
In the most recent quarter, revenue decreased compared to the preceding quarter but was similar to the same quarter one year earlier. Gross profit also declined from the preceding quarter but was higher than the year-ago quarter, while cost of revenue was slightly lower than the preceding quarter and higher than the year-ago quarter; gross margin weakened slightly versus both periods.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
In the most recent quarter, revenue decreased compared to the preceding quarter but was similar to the same quarter one year earlier. Gross profit also declined from the preceding quarter but was higher than the year-ago quarter, while cost of revenue was slightly lower than the preceding quarter and higher than the year-ago quarter; gross margin weakened slightly versus both periods.
- The ratio of cost of revenue to revenue increased slightly compared to both the preceding quarter and the same quarter one year earlier, which compressed the gross margin. This indicates that cost growth outpaced revenue growth when measured as a share of revenue.
- Revenue was lower than the preceding quarter and similar to the year-ago quarter. Gross profit was lower than the preceding quarter but higher than the year-ago quarter, and cost of revenue was slightly lower than the preceding quarter yet higher than the year-ago quarter. Gross margin weakened slightly compared to both periods.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
35.1%
Gross profit
$506.0M
Revenue
$1.4B
Cost of revenue
$936.6M
Quarter-over-quarter change
-0.3 pts
Year-over-year change
-0.4 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $1.3B | $445.1M | $900.7M | 33.1% |
| Mar 31, 2024 | $1.4B | $433.6M | $965.5M | 31.0% |
| Jun 30, 2024 | $1.5B | $513.8M | $938.7M | 35.4% |
| Sep 30, 2024 | $1.4B | $506.0M | $936.6M | 35.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-0.3 pts
Year-over-year change
Sep 30, 2023
-0.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The ratio of cost of revenue to revenue increased slightly compared to both the preceding quarter and the same quarter one year earlier, which compressed the gross margin. This indicates that cost growth outpaced revenue growth when measured as a share of revenue.
Revenue was lower than the preceding quarter and similar to the year-ago quarter. Gross profit was lower than the preceding quarter but higher than the year-ago quarter, and cost of revenue was slightly lower than the preceding quarter yet higher than the year-ago quarter. Gross margin weakened slightly compared to both periods.
Monitor whether the cost of revenue as a share of revenue continues to increase, as it has shown a slight upward trend relative to both prior periods.