Mesa Laboratories Inc (MLAB)

Pretax margin

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	-275,648	-593	-623	4,086	-389	-158	-4,415	-3,256	3,574	8,512	5,126	2,967	2,303	17,344	17,868	19,148	23,754	20,002	26,153	23,795
Revenue (ttm)	US$ in thousands	216,187	212,874	213,688	219,272	219,080	163,489	163,898	140,989	125,456	163,420	142,896	138,916	133,937	130,181	127,664	121,340	117,687	109,925	104,952	104,281
Pretax margin		-127.50%	-0.28%	-0.29%	1.86%	-0.18%	-0.10%	-2.69%	-2.31%	2.85%	5.21%	3.59%	2.14%	1.72%	13.32%	14.00%	15.78%	20.18%	18.20%	24.92%	22.82%

March 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-275,648K ÷ $216,187K
= -127.50%

The pretax margin of Mesa Laboratories Inc has displayed significant variability over the past few quarters. For the most recent quarter ending March 31, 2024, the pretax margin was noted to be -127.50%, reflecting a substantial negative impact on profitability. Prior to this, in the previous quarter, the company had a slightly negative pretax margin of -0.28%.

Looking back over the last year, Mesa Laboratories Inc's pretax margins have been somewhat volatile, with fluctuations seen from positive to negative territory. The company experienced higher pretax margins in the earlier quarters of 2020 and 2019, reaching levels above 20%. However, there has been a noticeable decline in profitability in recent quarters.

The negative pretax margins suggest that Mesa Laboratories Inc's operating expenses and other costs may have outweighed its gross margin or revenue during these periods. This trend warrants further investigation into the company's cost structure, pricing strategies, and overall financial performance.