Hubbell Incorporated stock research
FY2025 Q1
Hubbell (HUBB) Gross Margin — Quarter Ended Mar 31, 2025
Revenue increased compared to the prior quarter but was level with the same quarter last year. Gross profit decreased sequentially and increased year-over-year, resulting in a gross margin that weakened from the previous quarter but improved compared to the same quarter a year earlier.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue increased compared to the prior quarter but was level with the same quarter last year. Gross profit decreased sequentially and increased year-over-year, resulting in a gross margin that weakened from the previous quarter but improved compared to the same quarter a year earlier.
- The strongest observable margin driver is the change in cost of revenue relative to revenue. From the prior quarter, cost of revenue grew faster than revenue, compressing margin; from the year-ago quarter, cost of revenue declined while revenue remained stable, expanding margin.
- Compared to the immediately preceding quarter, gross margin was lower due to a larger increase in cost of revenue relative to revenue. Compared to the same quarter one year earlier, gross margin was higher as cost of revenue decreased while revenue was unchanged.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
32.4%
Gross profit
$442.6M
Revenue
$1.4B
Cost of revenue
$922.6M
Quarter-over-quarter change
-2.7 pts
Year-over-year change
+1.4 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 |
|---|---|---|---|---|
| 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% |
| Mar 31, 2025 | $1.4B | $442.6M | $922.6M | 32.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2024
-2.7 pts
Year-over-year change
Mar 31, 2024
+1.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the change in cost of revenue relative to revenue. From the prior quarter, cost of revenue grew faster than revenue, compressing margin; from the year-ago quarter, cost of revenue declined while revenue remained stable, expanding margin.
Compared to the immediately preceding quarter, gross margin was lower due to a larger increase in cost of revenue relative to revenue. Compared to the same quarter one year earlier, gross margin was higher as cost of revenue decreased while revenue was unchanged.
Monitor the trajectory of cost of revenue growth relative to revenue growth in upcoming quarters.