TELEDYNE TECHNOLOGIES INC stock research
FY2024 Q3
TELEDYNE TECHNOLOGIES (TDY) Gross Margin — Quarter Ended Sep 29, 2024
Revenue was stable compared to both the prior quarter and the same quarter last year. Gross profit improved from the prior quarter but weakened versus a year ago, while cost of revenue increased relative to both periods, resulting in a gross margin that was slightly lower than both the preceding quarter and the year-ago quarter.
Gross margin takeaway
Quarter ended Sep 29, 2024 · FY2024 Q3
Revenue was stable compared to both the prior quarter and the same quarter last year. Gross profit improved from the prior quarter but weakened versus a year ago, while cost of revenue increased relative to both periods, resulting in a gross margin that was slightly lower than both the preceding quarter and the year-ago quarter.
- The strongest observable margin driver was the increase in gross profit relative to the prior quarter, which outpaced the rise in cost of revenue, leading to a higher gross profit amount despite a slightly lower gross margin percentage.
- Compared to the immediately preceding quarter, revenue was stable, gross profit was higher, cost of revenue was higher, and gross margin was slightly lower. Compared to the same quarter one year earlier, revenue was stable, gross profit was lower, cost of revenue was higher, and gross margin was slightly lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
42.9%
Gross profit
$619.6M
Revenue
$1.4B
Cost of revenue
$823.9M
Quarter-over-quarter change
-0.2 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $1.4B | $623.1M | $801.9M | 43.7% |
| Mar 31, 2024 | $1.4B | $579.9M | $770.2M | 43.0% |
| Jun 30, 2024 | $1.4B | $592.6M | $781.5M | 43.1% |
| Sep 29, 2024 | $1.4B | $619.6M | $823.9M | 42.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-0.2 pts
Year-over-year change
Oct 1, 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 was the increase in gross profit relative to the prior quarter, which outpaced the rise in cost of revenue, leading to a higher gross profit amount despite a slightly lower gross margin percentage.
Compared to the immediately preceding quarter, revenue was stable, gross profit was higher, cost of revenue was higher, and gross margin was slightly lower. Compared to the same quarter one year earlier, revenue was stable, gross profit was lower, cost of revenue was higher, and gross margin was slightly lower.
Monitor the trajectory of cost of revenue, which increased relative to both the prior quarter and the year-ago quarter, as it directly pressures gross margin.