Quanta Services, Inc. stock research
FY2024 Q2
Quanta Services (PWR) Gross Margin — Quarter Ended Jun 30, 2024
In the current quarter, revenue and gross profit rose compared to both the prior quarter and the year-ago period. Gross margin strengthened from the prior quarter and remained above the year-ago figure, as the increase in cost of revenue was proportionally smaller than the revenue growth.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
In the current quarter, revenue and gross profit rose compared to both the prior quarter and the year-ago period. Gross margin strengthened from the prior quarter and remained above the year-ago figure, as the increase in cost of revenue was proportionally smaller than the revenue growth.
- The strongest observable margin driver is the relationship between revenue and cost of revenue; revenue growth outpaced cost of revenue growth, leading to an expansion in gross margin.
- Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin was slightly higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
14.5%
Gross profit
$811.3M
Revenue
$5.6B
Cost of revenue
$4.8B
Quarter-over-quarter change
+2.1 pts
Year-over-year change
+0.2 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $5.6B | $847.3M | $4.8B | 15.1% |
| Dec 31, 2023 | $5.8B | $792.5M | $5.0B | 13.7% |
| Mar 31, 2024 | $5.0B | $623.5M | $4.4B | 12.4% |
| Jun 30, 2024 | $5.6B | $811.3M | $4.8B | 14.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+2.1 pts
Year-over-year change
Jun 30, 2023
+0.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the relationship between revenue and cost of revenue; revenue growth outpaced cost of revenue growth, leading to an expansion in gross margin.
Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin was slightly higher.
Monitor the company's forward-looking statements regarding margins as noted in the management discussion and risk factors.