Nucor Corporation stock research
FY2024 Q2
Nucor (NUE) Gross Margin — Quarter Ended Jun 29, 2024
Revenue was stable compared to the prior quarter but lower than the same quarter last year. Gross profit and gross margin weakened both sequentially and year over year as cost of revenue increased relative to revenue.
Gross margin takeaway
Quarter ended Jun 29, 2024 · FY2024 Q2
Revenue was stable compared to the prior quarter but lower than the same quarter last year. Gross profit and gross margin weakened both sequentially and year over year as cost of revenue increased relative to revenue.
- The decline in gross margin is primarily attributed to a sequential increase in cost of revenue while revenue remained unchanged, leading to a lower gross profit.
- Compared to the prior quarter, gross margin weakened from a higher level. Versus the same quarter a year ago, gross margin was significantly lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
14.8%
Gross profit
$1.2B
Revenue
$8.1B
Cost of revenue
$6.9B
Quarter-over-quarter change
-3.9 pts
Year-over-year change
-11.5 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 |
|---|---|---|---|---|
| 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% |
| Jun 29, 2024 | $8.1B | $1.2B | $6.9B | 14.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 30, 2024
-3.9 pts
Year-over-year change
Jul 1, 2023
-11.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The decline in gross margin is primarily attributed to a sequential increase in cost of revenue while revenue remained unchanged, leading to a lower gross profit.
Compared to the prior quarter, gross margin weakened from a higher level. Versus the same quarter a year ago, gross margin was significantly lower.
Monitor cost of revenue trends as they increased sequentially and remain elevated relative to revenue.