Altria Group, Inc. stock research
FY2024 Q1
Altria Group (MO) Gross Margin — Quarter Ended Mar 31, 2024
Revenue and gross profit both decreased compared to the prior quarter, while cost of revenue also declined. Gross margin improved slightly versus both the prior quarter and the same quarter last year, indicating that the relationship among these metrics shifted favorably.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue and gross profit both decreased compared to the prior quarter, while cost of revenue also declined. Gross margin improved slightly versus both the prior quarter and the same quarter last year, indicating that the relationship among these metrics shifted favorably.
- The strongest observable margin driver is the gross margin rate, which improved relative to both the prior quarter and the year-ago quarter, even as revenue declined.
- Compared to the immediately preceding quarter, revenue and gross profit were lower, but gross margin was higher. Compared to the same quarter one year earlier, revenue was slightly lower, gross profit was stable, and gross margin was higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
58.8%
Gross profit
$3.3B
Revenue
$5.6B
Cost of revenue
$1.4B
Quarter-over-quarter change
+0.3 pts
Year-over-year change
+0.6 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 | $6.5B | $3.8B | $1.7B | 57.7% |
| Sep 30, 2023 | $6.3B | $3.7B | $1.6B | 58.9% |
| Dec 31, 2023 | $6.0B | $3.5B | $1.5B | 58.6% |
| Mar 31, 2024 | $5.6B | $3.3B | $1.4B | 58.8% |
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
+0.6 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 rate, which improved relative to both the prior quarter and the year-ago quarter, even as revenue declined.
Compared to the immediately preceding quarter, revenue and gross profit were lower, but gross margin was higher. Compared to the same quarter one year earlier, revenue was slightly lower, gross profit was stable, and gross margin was higher.
Monitor the trajectory of cost of revenue relative to revenue, as its decline contributed to the gross margin improvement.