Vulcan Materials Company stock research
FY2023 Q1
Vulcan Materials (VMC) Gross Margin — Quarter Ended Mar 31, 2023
Revenue decreased compared to the immediately preceding quarter, while gross profit and gross margin also declined. Relative to the same quarter one year earlier, revenue, gross profit, and gross margin all improved, with cost of revenue growing at a slower pace than revenue.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue decreased compared to the immediately preceding quarter, while gross profit and gross margin also declined. Relative to the same quarter one year earlier, revenue, gross profit, and gross margin all improved, with cost of revenue growing at a slower pace than revenue.
- The change in gross margin relative to the prior quarter was driven by a proportionally larger decline in gross profit compared to revenue, as cost of revenue declined less than revenue. The year-over-year improvement in gross margin resulted from revenue growing faster than cost of revenue.
- Compared to the preceding quarter, gross margin weakened, driven by a higher ratio of cost of revenue to revenue. Compared to the same quarter last year, gross margin strengthened, reflecting a lower ratio of cost of revenue to revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
18.3%
Gross profit
$302.0M
Revenue
$1.6B
Cost of revenue
$1.3B
Quarter-over-quarter change
n/a
Year-over-year change
+0.9 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 | $1.6B | $302.0M | $1.3B | 18.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Mar 31, 2022
+0.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The change in gross margin relative to the prior quarter was driven by a proportionally larger decline in gross profit compared to revenue, as cost of revenue declined less than revenue. The year-over-year improvement in gross margin resulted from revenue growing faster than cost of revenue.
Compared to the preceding quarter, gross margin weakened, driven by a higher ratio of cost of revenue to revenue. Compared to the same quarter last year, gross margin strengthened, reflecting a lower ratio of cost of revenue to revenue.
Monitor the relationship between cost of revenue and revenue in the upcoming quarter, as changes in this ratio will directly influence gross margin trends.