Cencora, Inc. stock research
FY2024 Q2
Cencora (COR) Gross Margin — Quarter Ended Mar 31, 2024
Revenue decreased compared to the prior quarter, while gross profit remained stable, leading to a higher gross margin. Relative to the same quarter last year, revenue and gross profit both increased, with gross margin showing a slight improvement.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q2
Revenue decreased compared to the prior quarter, while gross profit remained stable, leading to a higher gross margin. Relative to the same quarter last year, revenue and gross profit both increased, with gross margin showing a slight improvement.
- Gross profit held steady sequentially despite lower revenue, which directly lifted the gross margin. The year-over-year increase in gross profit outpaced the revenue growth, supporting a modest margin expansion.
- Compared to the preceding quarter, gross margin improved as revenue declined while gross profit remained unchanged. Versus the same quarter a year earlier, gross margin was slightly higher, driven by a proportionally larger increase in gross profit relative to revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
3.7%
Gross profit
$2.5B
Revenue
$68.4B
Cost of revenue
$65.9B
Quarter-over-quarter change
+0.3 pts
Year-over-year change
+0.1 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 | $66.9B | $2.3B | $64.7B | 3.4% |
| Sep 30, 2023 | $68.9B | $2.3B | $66.7B | 3.3% |
| Dec 31, 2023 | $72.3B | $2.5B | $69.8B | 3.4% |
| Mar 31, 2024 | $68.4B | $2.5B | $65.9B | 3.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
+0.3 pts
Year-over-year change
Mar 31, 2023
+0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit held steady sequentially despite lower revenue, which directly lifted the gross margin. The year-over-year increase in gross profit outpaced the revenue growth, supporting a modest margin expansion.
Compared to the preceding quarter, gross margin improved as revenue declined while gross profit remained unchanged. Versus the same quarter a year earlier, gross margin was slightly higher, driven by a proportionally larger increase in gross profit relative to revenue.
Monitor whether the stability in gross profit persists if revenue continues to fluctuate.