IDEX Corporation stock research
FY2023 Q2
IDEX (IEX) Gross Margin — Quarter Ended Jun 30, 2023
Revenue was slightly higher than both the immediately preceding quarter and the same quarter one year earlier, while gross profit was lower than the prior quarter but higher than the year-ago period. Cost of revenue increased at a faster pace than revenue compared to the prior quarter, leading to a slightly weaker gross margin; compared to the year-ago quarter, the gross margin was also marginally lower.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue was slightly higher than both the immediately preceding quarter and the same quarter one year earlier, while gross profit was lower than the prior quarter but higher than the year-ago period. Cost of revenue increased at a faster pace than revenue compared to the prior quarter, leading to a slightly weaker gross margin; compared to the year-ago quarter, the gross margin was also marginally lower.
- The change in cost of revenue relative to revenue was the most observable factor affecting gross margin. Compared to the prior quarter, cost of revenue grew more than revenue, compressing the margin.
- Revenue was slightly higher than both the prior quarter and the year-ago quarter. Gross profit was lower than the prior quarter but higher than the year-ago quarter, while gross margin was slightly lower than both periods.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
44.7%
Gross profit
$378.0M
Revenue
$846.2M
Cost of revenue
$468.2M
Quarter-over-quarter change
-0.6 pts
Year-over-year change
-0.2 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, 2023 | $845.4M | $382.5M | $462.9M | 45.2% |
| Jun 30, 2023 | $846.2M | $378.0M | $468.2M | 44.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
-0.6 pts
Year-over-year change
Jun 30, 2022
-0.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The change in cost of revenue relative to revenue was the most observable factor affecting gross margin. Compared to the prior quarter, cost of revenue grew more than revenue, compressing the margin.
Revenue was slightly higher than both the prior quarter and the year-ago quarter. Gross profit was lower than the prior quarter but higher than the year-ago quarter, while gross margin was slightly lower than both periods.
Monitor the trend in cost of revenue relative to revenue in future quarters to assess whether margin pressure persists.