Spire Inc (SR)

Gross profit margin

		Sep 30, 2024	Jun 30, 2024	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
Gross profit (ttm)	US$ in thousands	2,233,400	2,206,400	2,171,200	2,125,200	2,238,100	1,967,300	2,018,100	1,857,900	1,632,800	1,653,000	1,595,600	1,821,300	1,268,800	1,306,300	830,400	-275,900	-276,900	-274,400	-125,000	-125,400
Revenue (ttm)	US$ in thousands	2,542,400	2,510,800	2,468,500	2,416,200	2,524,200	2,541,800	2,588,700	2,365,900	2,078,700	2,060,900	1,943,100	2,168,800	2,128,900	2,093,600	2,087,400	1,696,600	1,749,900	1,748,800	1,775,400	1,890,600
Gross profit margin		87.85%	87.88%	87.96%	87.96%	88.67%	77.40%	77.96%	78.53%	78.55%	80.21%	82.12%	83.98%	59.60%	62.39%	39.78%	-16.26%	-15.82%	-15.69%	-7.04%	-6.63%

September 30, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,233,400K ÷ $2,542,400K
= 87.85%

The gross profit margin of Spire Inc has generally been trending positively over the recent quarters, indicating efficient cost management and strong pricing power. The margin peaked at 88.67% in the third quarter of 2023 before experiencing a slight decline in subsequent periods. Despite fluctuations, the company maintained robust margins above 77% in the following quarters.

The significant improvement from the low of 39.78% in the first quarter of 2021 to the current levels above 87% reflects enhanced operational performance and potentially better control over production costs. While some variability is evident, the overall upward trend in gross profit margins demonstrates Spire Inc's ability to generate a healthy return on its sales after accounting for direct costs of goods sold. Further analysis of cost structures and revenue streams can provide insights into the drivers behind these margin changes.