PACCAR (PCAR) Gross Margin — Quarter Ended Jun 30, 2024

Revenue was slightly higher than the prior quarter, but gross profit was lower, leading to a weaker gross margin. Compared to the same quarter last year, revenue was slightly lower.

Gross margin takeaway

Quarter ended Jun 30, 2024 · FY2024 Q2

Revenue was slightly higher than the prior quarter, but gross profit was lower, leading to a weaker gross margin. Compared to the same quarter last year, revenue was slightly lower.

The relationship shows that cost of revenue rose more than revenue, compressing gross profit and margin. This shift resulted in a lower margin despite higher revenue.
The gross margin weakened compared to the immediately preceding quarter. Revenue was slightly lower versus the same quarter one year ago.

Gross margin snapshot

The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.

Gross margin

22.8%

Gross profit

$2.0B

Revenue

$8.8B

Cost of revenue

$6.8B

Quarter-over-quarter change

-0.9 pts

Year-over-year change

n/a

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 31, 2024	$8.7B	$2.1B	$6.7B	23.7%
Jun 30, 2024	$8.8B	$2.0B	$6.8B	22.8%

Quarterly comparisons

Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.

Previous-quarter change

Mar 31, 2024

-0.9 pts

Year-over-year change

Jun 30, 2023

n/a

What the margin says

Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.

The relationship shows that cost of revenue rose more than revenue, compressing gross profit and margin. This shift resulted in a lower margin despite higher revenue.

The gross margin weakened compared to the immediately preceding quarter. Revenue was slightly lower versus the same quarter one year ago.

Monitor the trend in cost of revenue relative to revenue.