Quanta Services, Inc. stock research
FY2023 Q3
Quanta Services (PWR) Gross Margin — Quarter Ended Sep 30, 2023
Revenue and gross profit rose from both the prior quarter and the year-ago period. Gross margin improved sequentially but was slightly lower than the same quarter a year earlier.
Gross margin takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue and gross profit rose from both the prior quarter and the year-ago period. Gross margin improved sequentially but was slightly lower than the same quarter a year earlier.
- The most observable driver this quarter is that gross profit grew at a faster pace relative to revenue compared to the prior quarter, leading to an improved gross margin.
- Compared with the immediately preceding quarter, revenue, gross profit, and cost of revenue were all higher and gross margin improved. Versus the same quarter one year earlier, both revenue and gross profit were higher but gross margin was slightly lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
15.1%
Gross profit
$847.3M
Revenue
$5.6B
Cost of revenue
$4.8B
Quarter-over-quarter change
+0.7 pts
Year-over-year change
-0.4 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 |
|---|---|---|---|---|
| Mar 31, 2023 | $4.4B | $573.2M | $3.9B | 12.9% |
| Jun 30, 2023 | $5.0B | $724.1M | $4.3B | 14.3% |
| Sep 30, 2023 | $5.6B | $847.3M | $4.8B | 15.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
+0.7 pts
Year-over-year change
Sep 30, 2022
-0.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver this quarter is that gross profit grew at a faster pace relative to revenue compared to the prior quarter, leading to an improved gross margin.
Compared with the immediately preceding quarter, revenue, gross profit, and cost of revenue were all higher and gross margin improved. Versus the same quarter one year earlier, both revenue and gross profit were higher but gross margin was slightly lower.
Monitor whether cost of revenue growth continues to outpace revenue growth in coming quarters.