Republic Services, Inc. stock research
FY2024 Q1
Republic Services (RSG) Gross Margin — Quarter Ended Mar 31, 2024
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin remained stable versus the prior quarter and improved relative to the same quarter a year ago.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin remained stable versus the prior quarter and improved relative to the same quarter a year ago.
- The strongest observable margin driver is the improvement in gross margin compared to the same quarter last year, as gross profit grew faster than cost of revenue.
- Compared to the immediately preceding quarter, revenue was higher, gross profit was higher, cost of revenue was higher, and gross margin was stable. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, cost of revenue was higher, and gross margin was improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
40.9%
Gross profit
$1.6B
Revenue
$3.9B
Cost of revenue
$2.3B
Quarter-over-quarter change
-0.0 pts
Year-over-year change
+1.5 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 |
|---|---|---|---|---|
| Jun 30, 2023 | $3.7B | $1.5B | $2.2B | 40.3% |
| Sep 30, 2023 | $3.8B | $1.5B | $2.3B | 40.3% |
| Dec 31, 2023 | $3.8B | $1.6B | $2.3B | 40.9% |
| Mar 31, 2024 | $3.9B | $1.6B | $2.3B | 40.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
-0.0 pts
Year-over-year change
Mar 31, 2023
+1.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the improvement in gross margin compared to the same quarter last year, as gross profit grew faster than cost of revenue.
Compared to the immediately preceding quarter, revenue was higher, gross profit was higher, cost of revenue was higher, and gross margin was stable. Compared to the same quarter one year earlier, revenue was higher, gross profit was higher, cost of revenue was higher, and gross margin was improved.
Monitor whether the stable gross margin relative to the prior quarter persists or shifts in upcoming periods.