Monster Beverage Corporation stock research
FY2024 Q2
Monster Beverage (MNST) Gross Margin — Quarter Ended Jun 30, 2024
Revenue remained stable compared to the prior quarter and the same quarter last year. Gross profit was slightly higher than a year ago, while cost of revenue was relatively unchanged, resulting in a gross margin that weakened from the prior quarter but improved from the same quarter last year.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue remained stable compared to the prior quarter and the same quarter last year. Gross profit was slightly higher than a year ago, while cost of revenue was relatively unchanged, resulting in a gross margin that weakened from the prior quarter but improved from the same quarter last year.
- The strongest observable margin driver is the gross margin improvement compared to the same quarter last year, as gross profit increased while revenue remained stable. This suggests a favorable shift in the relationship between revenue and cost of revenue.
- Compared to the prior quarter, gross margin weakened slightly as cost of revenue increased while revenue was unchanged. Compared to the same quarter last year, gross margin improved as gross profit rose while revenue was stable.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
53.6%
Gross profit
$1.0B
Revenue
$1.9B
Cost of revenue
$881.1M
Quarter-over-quarter change
-0.4 pts
Year-over-year change
+1.1 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 | $1.9B | $983.8M | $872.3M | 53.0% |
| Dec 31, 2023 | $1.7B | $938.4M | $791.7M | 54.2% |
| Mar 31, 2024 | $1.9B | $1.0B | $872.0M | 54.1% |
| Jun 30, 2024 | $1.9B | $1.0B | $881.1M | 53.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
-0.4 pts
Year-over-year change
Jun 30, 2023
+1.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the gross margin improvement compared to the same quarter last year, as gross profit increased while revenue remained stable. This suggests a favorable shift in the relationship between revenue and cost of revenue.
Compared to the prior quarter, gross margin weakened slightly as cost of revenue increased while revenue was unchanged. Compared to the same quarter last year, gross margin improved as gross profit rose while revenue was stable.
Monitor the trend in cost of revenue relative to revenue, as a slight increase in cost of revenue this quarter led to a marginal weakening in gross margin from the prior quarter.