IDEX Corporation stock research
FY2024 Q2
IDEX (IEX) Gross Margin — Quarter Ended Jun 30, 2024
Revenue increased from the previous quarter but was lower than the same quarter last year. Gross profit followed a similar pattern, while cost of revenue decreased compared to both prior periods, leading to a higher gross margin.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue increased from the previous quarter but was lower than the same quarter last year. Gross profit followed a similar pattern, while cost of revenue decreased compared to both prior periods, leading to a higher gross margin.
- The primary observable factor supporting the gross margin was the decrease in cost of revenue, which outpaced the revenue changes relative to both the prior quarter and the year-ago quarter.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was lower, and gross margin improved. Versus the same quarter one year earlier, revenue and gross profit were lower, cost of revenue was also lower, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
45.4%
Gross profit
$366.8M
Revenue
$807.2M
Cost of revenue
$440.4M
Quarter-over-quarter change
+0.8 pts
Year-over-year change
+0.8 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 | $793.4M | $349.6M | $443.8M | 44.1% |
| Dec 31, 2023 | $788.9M | $336.8M | $452.1M | 42.7% |
| Mar 31, 2024 | $800.5M | $357.4M | $443.1M | 44.6% |
| Jun 30, 2024 | $807.2M | $366.8M | $440.4M | 45.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+0.8 pts
Year-over-year change
Jun 30, 2023
+0.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The primary observable factor supporting the gross margin was the decrease in cost of revenue, which outpaced the revenue changes relative to both the prior quarter and the year-ago quarter.
Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was lower, and gross margin improved. Versus the same quarter one year earlier, revenue and gross profit were lower, cost of revenue was also lower, and gross margin improved.
Monitor the company's inventory recalibration and order stabilization as referenced in the filing, as they may influence future cost of revenue and gross margin.