Westinghouse Air Brake Technologies Corporation stock research
FY2024 Q1
Westinghouse Air Brake Technologies (WAB) Gross Margin — Quarter Ended Mar 31, 2024
Revenue held steady compared to the immediately preceding quarter and rose relative to the same quarter one year earlier. Gross profit increased and cost of revenue declined, resulting in a higher gross margin on both comparisons.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue held steady compared to the immediately preceding quarter and rose relative to the same quarter one year earlier. Gross profit increased and cost of revenue declined, resulting in a higher gross margin on both comparisons.
- The strongest observable margin driver was the reduction in cost of revenue relative to revenue, which improved gross margin despite stable revenue.
- Gross margin improved from the previous quarter and from the same quarter last year, reflecting lower cost of revenue in the current period.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
32.6%
Gross profit
$815.0M
Revenue
$2.5B
Cost of revenue
$1.7B
Quarter-over-quarter change
+2.4 pts
Year-over-year change
+2.3 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 | $2.4B | $723.0M | $1.7B | 30.0% |
| Sep 30, 2023 | $2.5B | $792.0M | $1.8B | 31.1% |
| Dec 31, 2023 | $2.5B | $764.0M | $1.8B | 30.2% |
| Mar 31, 2024 | $2.5B | $815.0M | $1.7B | 32.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
+2.4 pts
Year-over-year change
Mar 31, 2023
+2.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver was the reduction in cost of revenue relative to revenue, which improved gross margin despite stable revenue.
Gross margin improved from the previous quarter and from the same quarter last year, reflecting lower cost of revenue in the current period.
Monitor the trend in cost of revenue as a proportion of revenue in future quarters.