Amcor plc stock research
FY2024 Q3
Amcor (AMCR) Gross Margin — Quarter Ended Mar 31, 2024
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved relative to both the preceding quarter and the same quarter last year.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q3
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved relative to both the preceding quarter and the same quarter last year.
- Gross profit grew at a faster rate than revenue, resulting in a higher gross margin. Cost of revenue increased but at a slower pace than revenue.
- Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were higher, while cost of revenue was also higher. Compared to the same quarter one year earlier, revenue and cost of revenue were lower, but gross profit and gross margin were higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
20.3%
Gross profit
$692.0M
Revenue
$3.4B
Cost of revenue
$2.7B
Quarter-over-quarter change
+1.2 pts
Year-over-year change
+1.9 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 | $3.7B | $722.0M | $3.0B | 19.7% |
| Sep 30, 2023 | $3.4B | $645.0M | $2.8B | 18.7% |
| Dec 31, 2023 | $3.3B | $621.0M | $2.6B | 19.1% |
| Mar 31, 2024 | $3.4B | $692.0M | $2.7B | 20.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
+1.2 pts
Year-over-year change
Mar 31, 2023
+1.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit grew at a faster rate than revenue, resulting in a higher gross margin. Cost of revenue increased but at a slower pace than revenue.
Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were higher, while cost of revenue was also higher. Compared to the same quarter one year earlier, revenue and cost of revenue were lower, but gross profit and gross margin were higher.
Monitor whether gross profit growth can continue to outpace revenue growth in upcoming periods.