Cencora, Inc. stock research
FY2023 Q3
Cencora (COR) Gross Margin — Quarter Ended Jun 30, 2023
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin was unchanged from a year ago but slightly lower than the prior quarter.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q3
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin was unchanged from a year ago but slightly lower than the prior quarter.
- Gross margin remained stable compared to the same quarter last year, as revenue and cost of revenue both increased. The sequential decline in gross margin reflects a higher proportion of cost of revenue relative to revenue.
- Compared to the prior quarter, revenue was higher while gross profit was unchanged, resulting in a lower gross margin. Compared to the same quarter last year, revenue and gross profit were both higher, with gross margin unchanged.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
3.4%
Gross profit
$2.3B
Revenue
$66.9B
Cost of revenue
$64.7B
Quarter-over-quarter change
-0.2 pts
Year-over-year change
+0.0 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 |
|---|---|---|---|---|
| Mar 31, 2023 | $63.5B | $2.3B | $61.2B | 3.6% |
| Jun 30, 2023 | $66.9B | $2.3B | $64.7B | 3.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
-0.2 pts
Year-over-year change
Jun 30, 2022
+0.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin remained stable compared to the same quarter last year, as revenue and cost of revenue both increased. The sequential decline in gross margin reflects a higher proportion of cost of revenue relative to revenue.
Compared to the prior quarter, revenue was higher while gross profit was unchanged, resulting in a lower gross margin. Compared to the same quarter last year, revenue and gross profit were both higher, with gross margin unchanged.
Monitor the trend in gross margin as revenue and cost of revenue continue to grow.