Waste Management, Inc. stock research
FY2024 Q3
Waste Management (WM) Gross Margin — Quarter Ended Sep 30, 2024
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit also rose, and cost of revenue increased, leading to a higher gross margin.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit also rose, and cost of revenue increased, leading to a higher gross margin.
- The improvement in gross margin from the prior quarter and year-ago period is the most notable observable driver, with revenue growth higher than the increase in cost of revenue.
- Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin was also higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
39.4%
Gross profit
$2.2B
Revenue
$5.6B
Cost of revenue
$3.4B
Quarter-over-quarter change
+0.3 pts
Year-over-year change
+0.7 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $5.2B | $2.1B | $3.1B | 39.7% |
| Mar 31, 2024 | $5.2B | $2.0B | $3.1B | 39.1% |
| Jun 30, 2024 | $5.4B | $2.1B | $3.3B | 39.1% |
| Sep 30, 2024 | $5.6B | $2.2B | $3.4B | 39.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
+0.3 pts
Year-over-year change
Sep 30, 2023
+0.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The improvement in gross margin from the prior quarter and year-ago period is the most notable observable driver, with revenue growth higher than the increase in cost of revenue.
Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin was also higher.
Monitor the relationship between revenue growth and cost of revenue growth in future quarters.