Eli Lilly and Company stock research
FY2024 Q1
Eli Lilly and (LLY) Gross Margin — Quarter Ended Mar 31, 2024
Revenue decreased from the prior quarter, while cost of revenue also declined slightly, resulting in lower gross profit but an unchanged gross margin. Compared to the same quarter a year ago, revenue, gross profit, and cost of revenue all increased, and gross margin improved. The filing includes forward-looking statements and management's discussion of operations, which describe risks and uncertainties.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue decreased from the prior quarter, while cost of revenue also declined slightly, resulting in lower gross profit but an unchanged gross margin. Compared to the same quarter a year ago, revenue, gross profit, and cost of revenue all increased, and gross margin improved. The filing includes forward-looking statements and management's discussion of operations, which describe risks and uncertainties.
- The gross margin remained unchanged from the previous quarter at a high level, while improving from the same quarter last year.
- Compared to the immediately preceding quarter, revenue was lower, cost of revenue was lower, and gross profit was lower, while gross margin was stable. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all higher, with gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
80.9%
Gross profit
$7.1B
Revenue
$8.8B
Cost of revenue
$1.7B
Quarter-over-quarter change
+0.0 pts
Year-over-year change
+4.3 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 | $8.3B | $6.5B | $1.8B | 78.3% |
| Sep 30, 2023 | $9.5B | $7.6B | $1.9B | 80.4% |
| Dec 31, 2023 | $9.4B | $7.6B | $1.8B | 80.9% |
| Mar 31, 2024 | $8.8B | $7.1B | $1.7B | 80.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
+0.0 pts
Year-over-year change
Mar 31, 2023
+4.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin remained unchanged from the previous quarter at a high level, while improving from the same quarter last year.
Compared to the immediately preceding quarter, revenue was lower, cost of revenue was lower, and gross profit was lower, while gross margin was stable. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all higher, with gross margin improved.
Monitor whether the gross margin can sustain its current level in the next quarter given the sequential decline in revenue.