Trimble Inc. stock research
FY2023 Q2
Trimble (TRMB) Gross Margin — Quarter Ended Jun 30, 2023
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin improved year-over-year but weakened slightly from the preceding quarter.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin improved year-over-year but weakened slightly from the preceding quarter.
- The year-over-year improvement in gross margin was accompanied by a lower cost of revenue despite higher revenue, while the sequential decline reflected a proportionally larger increase in cost of revenue relative to revenue.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, but gross margin was lower. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
60.8%
Gross profit
$604.5M
Revenue
$993.6M
Cost of revenue
$389.1M
Quarter-over-quarter change
-0.4 pts
Year-over-year change
+3.7 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 | $915.4M | $560.8M | $354.6M | 61.3% |
| Jun 30, 2023 | $993.6M | $604.5M | $389.1M | 60.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
-0.4 pts
Year-over-year change
Jul 1, 2022
+3.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The year-over-year improvement in gross margin was accompanied by a lower cost of revenue despite higher revenue, while the sequential decline reflected a proportionally larger increase in cost of revenue relative to revenue.
Compared to the immediately preceding quarter, revenue and gross profit were higher, but gross margin was lower. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all higher.
Monitor the trend in cost of revenue relative to revenue, as it was the primary factor in the sequential margin change.