Ingersoll Rand Inc. stock research
FY2024 Q2
Ingersoll Rand (IR) Gross Margin — Quarter Ended Jun 30, 2024
Revenue increased and cost of revenue also increased, resulting in higher gross profit. Gross margin improved compared to the same quarter last year but declined slightly from the prior quarter.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue increased and cost of revenue also increased, resulting in higher gross profit. Gross margin improved compared to the same quarter last year but declined slightly from the prior quarter.
- The year-over-year gross margin expansion was driven by gross profit growing at a faster pace than revenue, while cost of revenue increased at a slower rate.
- Compared to the immediately preceding quarter, gross margin weakened. Compared to the same quarter one year earlier, gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
43.9%
Gross profit
$793.3M
Revenue
$1.8B
Cost of revenue
$1.0B
Quarter-over-quarter change
-0.7 pts
Year-over-year change
+2.6 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 | $1.7B | $739.3M | $999.6M | 42.5% |
| Dec 31, 2023 | $1.8B | $781.2M | $1.0B | 42.9% |
| Mar 31, 2024 | $1.7B | $746.3M | $923.8M | 44.7% |
| Jun 30, 2024 | $1.8B | $793.3M | $1.0B | 43.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
-0.7 pts
Year-over-year change
Jun 30, 2023
+2.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The year-over-year gross margin expansion was driven by gross profit growing at a faster pace than revenue, while cost of revenue increased at a slower rate.
Compared to the immediately preceding quarter, gross margin weakened. Compared to the same quarter one year earlier, gross margin improved.
Monitor the trend in cost of revenue relative to revenue, as the sequential decline in gross margin suggests a shift in their relationship.