Ingersoll Rand Inc. stock research
FY2024 Q3
Ingersoll Rand (IR) Gross Margin — Quarter Ended Sep 30, 2024
Current quarter revenue and gross profit were higher than both the prior quarter and the same quarter last year. Gross margin was slightly weakened compared to the prior quarter but improved compared to the year-ago period.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Current quarter revenue and gross profit were higher than both the prior quarter and the same quarter last year. Gross margin was slightly weakened compared to the prior quarter but improved compared to the year-ago period.
- The strongest observable driver is the relationship between revenue and cost of revenue, where revenue increased while cost of revenue remained relatively stable, supporting gross profit growth.
- Compared to the immediately preceding quarter, revenue increased and gross profit increased, but gross margin was slightly lower. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
43.8%
Gross profit
$815.0M
Revenue
$1.9B
Cost of revenue
$1.0B
Quarter-over-quarter change
-0.1 pts
Year-over-year change
+1.3 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 | $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% |
| Sep 30, 2024 | $1.9B | $815.0M | $1.0B | 43.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-0.1 pts
Year-over-year change
Sep 30, 2023
+1.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver is the relationship between revenue and cost of revenue, where revenue increased while cost of revenue remained relatively stable, supporting gross profit growth.
Compared to the immediately preceding quarter, revenue increased and gross profit increased, but gross margin was slightly lower. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all higher.
Monitor the stability of cost of revenue, as it remained nearly unchanged while revenue grew.