WEC Energy Group, Inc. stock research
FY2024 Q2
WEC Energy Group (WEC) Gross Margin — Quarter Ended Jun 30, 2024
Revenue was nearly stable compared with the same quarter one year earlier, while cost of revenue decreased, resulting in a higher gross profit and gross margin. Compared with the immediately preceding quarter, revenue was lower and cost of revenue declined more sharply, leading to a higher gross margin.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue was nearly stable compared with the same quarter one year earlier, while cost of revenue decreased, resulting in a higher gross profit and gross margin. Compared with the immediately preceding quarter, revenue was lower and cost of revenue declined more sharply, leading to a higher gross margin.
- The comparison with the immediately preceding quarter shows that cost of revenue declined faster than revenue, which was the strongest observable driver of the gross margin improvement.
- Gross margin improved from the prior quarter and also improved from the same quarter one year earlier. Revenue was unchanged year over year and lower sequentially, while gross profit was slightly higher year over year and lower sequentially.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
73.5%
Gross profit
$1.3B
Revenue
$1.8B
Cost of revenue
$469.7M
Quarter-over-quarter change
+8.1 pts
Year-over-year change
+2.6 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $2.0B | $1.4B | $587.4M | 70.0% |
| Dec 31, 2023 | $2.2B | $1.5B | $761.1M | 65.7% |
| Mar 31, 2024 | $2.7B | $1.8B | $927.1M | 65.4% |
| Jun 30, 2024 | $1.8B | $1.3B | $469.7M | 73.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+8.1 pts
Year-over-year change
Jun 30, 2023
+2.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The comparison with the immediately preceding quarter shows that cost of revenue declined faster than revenue, which was the strongest observable driver of the gross margin improvement.
Gross margin improved from the prior quarter and also improved from the same quarter one year earlier. Revenue was unchanged year over year and lower sequentially, while gross profit was slightly higher year over year and lower sequentially.
Monitor the trend in cost of revenue, as its reduction relative to revenue was the primary factor in the margin improvement.