Nucor Corporation stock research
FY2022 Q3
Nucor (NUE) Gross Margin — Quarter Ended Jul 1, 2023
Revenue increased compared to the prior quarter, while gross profit rose and cost of revenue also increased. Gross margin improved from the previous quarter but weakened relative to the same quarter last year.
Gross margin takeaway
Quarter ended Jul 1, 2023 · FY2022 Q3
Revenue increased compared to the prior quarter, while gross profit rose and cost of revenue also increased. Gross margin improved from the previous quarter but weakened relative to the same quarter last year.
- The margin improvement was strongly associated with revenue growing at a faster pace than cost of revenue, as revenue increased more than the cost of revenue did from the prior quarter.
- Compared to the previous quarter, revenue, gross profit, and gross margin were higher, while cost of revenue was also higher. Compared to the same quarter a year ago, revenue and gross profit were lower, cost of revenue was slightly higher, and gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
26.3%
Gross profit
$2.5B
Revenue
$9.5B
Cost of revenue
$7.0B
Quarter-over-quarter change
+3.3 pts
Year-over-year change
-6.8 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 |
|---|---|---|---|---|
| Apr 1, 2023 | $8.7B | $2.0B | $6.7B | 22.9% |
| Jul 1, 2023 | $9.5B | $2.5B | $7.0B | 26.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Apr 1, 2023
+3.3 pts
Year-over-year change
Oct 2, 2021
-6.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The margin improvement was strongly associated with revenue growing at a faster pace than cost of revenue, as revenue increased more than the cost of revenue did from the prior quarter.
Compared to the previous quarter, revenue, gross profit, and gross margin were higher, while cost of revenue was also higher. Compared to the same quarter a year ago, revenue and gross profit were lower, cost of revenue was slightly higher, and gross margin weakened.
Monitor the company's liquidity position and credit ratings, which were highlighted in the filing as key strategic advantages.