Leidos Holdings, Inc. stock research
FY2023 Q1
Leidos Holdings (LDOS) Gross Margin — Quarter Ended Mar 31, 2023
Revenue was stable compared to the prior quarter, while gross profit and gross margin both decreased. Compared to the same quarter one year earlier, revenue was higher but gross profit and gross margin were lower.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue was stable compared to the prior quarter, while gross profit and gross margin both decreased. Compared to the same quarter one year earlier, revenue was higher but gross profit and gross margin were lower.
- The decline in gross margin from both the prior quarter and the year-ago quarter was driven by a larger increase in cost of revenue relative to revenue growth.
- Compared to the immediately preceding quarter, revenue was essentially unchanged, but gross profit and gross margin were lower. Compared to the same quarter one year earlier, revenue was higher, yet gross profit and gross margin were lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
12.9%
Gross profit
$475.0M
Revenue
$3.7B
Cost of revenue
$3.2B
Quarter-over-quarter change
n/a
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 |
|---|---|---|---|---|
| Mar 31, 2023 | $3.7B | $475.0M | $3.2B | 12.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Apr 1, 2022
-1.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The decline in gross margin from both the prior quarter and the year-ago quarter was driven by a larger increase in cost of revenue relative to revenue growth.
Compared to the immediately preceding quarter, revenue was essentially unchanged, but gross profit and gross margin were lower. Compared to the same quarter one year earlier, revenue was higher, yet gross profit and gross margin were lower.
Monitor the trajectory of cost of revenue relative to revenue in upcoming quarters.