Altria Group, Inc. stock research
FY2024 Q3
Altria Group (MO) Gross Margin — Quarter Ended Sep 30, 2024
Revenue was stable compared to the same quarter last year and slightly higher than the prior quarter. Gross profit increased, cost of revenue was lower, and gross margin improved both sequentially and year-over-year.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue was stable compared to the same quarter last year and slightly higher than the prior quarter. Gross profit increased, cost of revenue was lower, and gross margin improved both sequentially and year-over-year.
- The strongest observable driver was the reduction in cost of revenue relative to revenue. Cost of revenue was lower than both the prior quarter and the year-ago quarter, while revenue was broadly stable, leading to gross margin expansion.
- Compared with the immediately preceding quarter, revenue was slightly higher, cost of revenue was lower, and gross profit and gross margin both improved. Compared with the same quarter one year earlier, revenue was unchanged, cost of revenue was lower, and gross profit and gross margin were higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
60.8%
Gross profit
$3.8B
Revenue
$6.3B
Cost of revenue
$1.5B
Quarter-over-quarter change
+1.7 pts
Year-over-year change
+1.9 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $6.0B | $3.5B | $1.5B | 58.6% |
| Mar 31, 2024 | $5.6B | $3.3B | $1.4B | 58.8% |
| Jun 30, 2024 | $6.2B | $3.7B | $1.6B | 59.2% |
| Sep 30, 2024 | $6.3B | $3.8B | $1.5B | 60.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
+1.7 pts
Year-over-year change
Sep 30, 2023
+1.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver was the reduction in cost of revenue relative to revenue. Cost of revenue was lower than both the prior quarter and the year-ago quarter, while revenue was broadly stable, leading to gross margin expansion.
Compared with the immediately preceding quarter, revenue was slightly higher, cost of revenue was lower, and gross profit and gross margin both improved. Compared with the same quarter one year earlier, revenue was unchanged, cost of revenue was lower, and gross profit and gross margin were higher.
Monitor the multi-phase Optimize & Accelerate initiative, which aims to modernize operations, centralize work, and streamline processes, as it may influence future cost structures and margin trends.