IDEX Corporation stock research
FY2024 Q3
IDEX (IEX) Gross Margin — Quarter Ended Sep 30, 2024
Revenue decreased while cost of revenue increased, resulting in lower gross profit and a weakened gross margin compared to the prior quarter. Versus the same period last year, revenue and gross profit were higher, and gross margin improved slightly.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue decreased while cost of revenue increased, resulting in lower gross profit and a weakened gross margin compared to the prior quarter. Versus the same period last year, revenue and gross profit were higher, and gross margin improved slightly.
- The increase in cost of revenue relative to revenue was the primary observable factor driving the sequential gross margin decline.
- Sequentially, gross margin weakened as cost of revenue grew while revenue contracted. Year over year, gross margin strengthened modestly, supported by a slightly larger revenue increase relative to cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
44.3%
Gross profit
$353.9M
Revenue
$798.2M
Cost of revenue
$444.3M
Quarter-over-quarter change
-1.1 pts
Year-over-year change
+0.3 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 | $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% |
| Sep 30, 2024 | $798.2M | $353.9M | $444.3M | 44.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-1.1 pts
Year-over-year change
Sep 30, 2023
+0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The increase in cost of revenue relative to revenue was the primary observable factor driving the sequential gross margin decline.
Sequentially, gross margin weakened as cost of revenue grew while revenue contracted. Year over year, gross margin strengthened modestly, supported by a slightly larger revenue increase relative to cost of revenue.
Monitor inventory recalibration and order stabilization trends as highlighted in the filing, which may influence future cost of revenue and margin performance.