Westinghouse Air Brake Technologies Corporation stock research
FY2023 Q1
Westinghouse Air Brake Technologies (WAB) Gross Margin — Quarter Ended Mar 31, 2023
In the current quarter, revenue and cost of revenue both decreased compared to the prior quarter, while gross profit increased. The gross margin improved relative to the preceding quarter but was slightly lower than the same quarter one year earlier.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
In the current quarter, revenue and cost of revenue both decreased compared to the prior quarter, while gross profit increased. The gross margin improved relative to the preceding quarter but was slightly lower than the same quarter one year earlier.
- The sequential margin improvement was most closely associated with the cost of revenue declining more than the decrease in revenue.
- Compared to the immediately preceding quarter, gross margin improved as cost of revenue fell more sharply than revenue. Compared to the same quarter a year ago, gross margin was slightly lower, with both revenue and cost of revenue higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
30.3%
Gross profit
$665.0M
Revenue
$2.2B
Cost of revenue
$1.5B
Quarter-over-quarter change
n/a
Year-over-year change
-0.6 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 | $2.2B | $665.0M | $1.5B | 30.3% |
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
-0.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The sequential margin improvement was most closely associated with the cost of revenue declining more than the decrease in revenue.
Compared to the immediately preceding quarter, gross margin improved as cost of revenue fell more sharply than revenue. Compared to the same quarter a year ago, gross margin was slightly lower, with both revenue and cost of revenue higher.
Monitor the change in inventory levels, which increased from the end of the prior quarter.