Cencora, Inc. stock research
FY2024 Q3
Cencora (COR) Gross Margin — Quarter Ended Jun 30, 2024
Revenue increased while gross profit decreased compared to the prior quarter, resulting in a lower gross margin. Compared to the same quarter last year, both revenue and gross profit grew, but gross margin declined.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q3
Revenue increased while gross profit decreased compared to the prior quarter, resulting in a lower gross margin. Compared to the same quarter last year, both revenue and gross profit grew, but gross margin declined.
- The most observable driver is that gross profit decreased relative to revenue from the prior quarter, as cost of revenue increased.
- Gross margin weakened both sequentially and year-over-year.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
3.2%
Gross profit
$2.4B
Revenue
$74.2B
Cost of revenue
$71.8B
Quarter-over-quarter change
-0.5 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 |
|---|---|---|---|---|
| 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% |
| Jun 30, 2024 | $74.2B | $2.4B | $71.8B | 3.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
-0.5 pts
Year-over-year change
Jun 30, 2023
-0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver is that gross profit decreased relative to revenue from the prior quarter, as cost of revenue increased.
Gross margin weakened both sequentially and year-over-year.
Monitor the trend in cost of revenue relative to revenue.