Nucor Corporation stock research
FY2024 Q1
Nucor (NUE) Gross Margin — Quarter Ended Mar 30, 2024
Revenue increased compared with the prior quarter but decreased relative to the same quarter a year earlier; gross profit followed the same directional pattern. Cost of revenue rose from the prior quarter but declined year over year, resulting in a gross margin that improved sequentially yet remained lower than the year‑ago level.
Gross margin takeaway
Quarter ended Mar 30, 2024 · FY2024 Q1
Revenue increased compared with the prior quarter but decreased relative to the same quarter a year earlier; gross profit followed the same directional pattern. Cost of revenue rose from the prior quarter but declined year over year, resulting in a gross margin that improved sequentially yet remained lower than the year‑ago level.
- The strongest observable driver is the difference in the rates of change between revenue and cost of revenue: sequentially revenue grew faster than cost, lifting gross profit and margin; year over year revenue fell more sharply than cost, compressing both gross profit and margin.
- Compared with the immediately preceding quarter, revenue, gross profit, and gross margin all improved, while cost of revenue was higher. Versus the same quarter one year earlier, revenue and gross profit were lower, cost of revenue was slightly lower, and gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
18.7%
Gross profit
$1.5B
Revenue
$8.1B
Cost of revenue
$6.6B
Quarter-over-quarter change
-3.2 pts
Year-over-year change
-4.2 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% |
| Sep 30, 2023 | $8.8B | $1.9B | $6.9B | 21.9% |
| Mar 30, 2024 | $8.1B | $1.5B | $6.6B | 18.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
-3.2 pts
Year-over-year change
Apr 1, 2023
-4.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver is the difference in the rates of change between revenue and cost of revenue: sequentially revenue grew faster than cost, lifting gross profit and margin; year over year revenue fell more sharply than cost, compressing both gross profit and margin.
Compared with the immediately preceding quarter, revenue, gross profit, and gross margin all improved, while cost of revenue was higher. Versus the same quarter one year earlier, revenue and gross profit were lower, cost of revenue was slightly lower, and gross margin weakened.
Monitor whether revenue growth can sustain its pace relative to cost changes in future quarters.