Nucor Corporation stock research
FY2023 Q1
Nucor (NUE) Gross Margin — Quarter Ended Apr 1, 2023
Revenue held steady while gross profit declined, as cost of revenue rose and gross margin weakened. Compared with the same quarter last year, revenue, gross profit, and gross margin were all lower.
Gross margin takeaway
Quarter ended Apr 1, 2023 · FY2023 Q1
Revenue held steady while gross profit declined, as cost of revenue rose and gross margin weakened. Compared with the same quarter last year, revenue, gross profit, and gross margin were all lower.
- The increase in cost of revenue relative to revenue was the primary observable factor reducing gross margin, as revenue was flat versus the prior quarter.
- Compared to the immediately preceding quarter, gross margin weakened as gross profit fell while revenue was unchanged. Versus the same quarter one year ago, gross margin weakened considerably, driven by a larger decline in gross profit relative to a smaller decrease in revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
22.9%
Gross profit
$2.0B
Revenue
$8.7B
Cost of revenue
$6.7B
Quarter-over-quarter change
n/a
Year-over-year change
-10.0 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 |
|---|---|---|---|---|
| Apr 1, 2023 | $8.7B | $2.0B | $6.7B | 22.9% |
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 2, 2022
-10.0 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 reducing gross margin, as revenue was flat versus the prior quarter.
Compared to the immediately preceding quarter, gross margin weakened as gross profit fell while revenue was unchanged. Versus the same quarter one year ago, gross margin weakened considerably, driven by a larger decline in gross profit relative to a smaller decrease in revenue.
Monitor the trajectory of cost of revenue, as its increase was the strongest observable factor in the gross margin decline.