Lockheed Martin Corporation stock research
FY2023 Q1
Lockheed Martin (LMT) Gross Margin — Quarter Ended Mar 26, 2023
Revenue decreased from the prior quarter but increased from the same quarter last year. Gross profit followed a similar pattern, while cost of revenue declined sequentially and was stable year-over-year, resulting in an improved gross margin compared to both periods.
Gross margin takeaway
Quarter ended Mar 26, 2023 · FY2023 Q1
Revenue decreased from the prior quarter but increased from the same quarter last year. Gross profit followed a similar pattern, while cost of revenue declined sequentially and was stable year-over-year, resulting in an improved gross margin compared to both periods.
- The most notable factor was the change in cost of revenue relative to revenue. Cost of revenue declined more sharply than revenue from the prior quarter, and remained flat year-over-year while revenue grew, contributing to margin expansion.
- Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin also improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
13.5%
Gross profit
$2.0B
Revenue
$15.1B
Cost of revenue
$13.1B
Quarter-over-quarter change
n/a
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 |
|---|---|---|---|---|
| Mar 26, 2023 | $15.1B | $2.0B | $13.1B | 13.5% |
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
Mar 27, 2022
+0.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most notable factor was the change in cost of revenue relative to revenue. Cost of revenue declined more sharply than revenue from the prior quarter, and remained flat year-over-year while revenue grew, contributing to margin expansion.
Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin also improved.
Monitor the trajectory of cost of revenue relative to revenue in future quarters.