The Mosaic Company stock research
FY2024 Q3
The Mosaic (MOS) Gross Margin — Quarter Ended Sep 30, 2024
Revenue was stable compared to the prior quarter, while gross profit and gross margin both improved. Compared to the same quarter one year earlier, revenue was lower but gross profit was slightly higher, resulting in a stronger gross margin.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue was stable compared to the prior quarter, while gross profit and gross margin both improved. Compared to the same quarter one year earlier, revenue was lower but gross profit was slightly higher, resulting in a stronger gross margin.
- The improvement in gross margin from both the prior quarter and the year-ago quarter was driven by a lower cost of revenue relative to revenue, as gross profit increased while revenue declined or held steady.
- Compared to the immediately preceding quarter, revenue was essentially unchanged, gross profit was higher, and gross margin improved. Compared to the same quarter one year earlier, revenue was lower, gross profit was slightly higher, and gross margin strengthened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
14.8%
Gross profit
$416.8M
Revenue
$2.8B
Cost of revenue
$2.4B
Quarter-over-quarter change
+0.8 pts
Year-over-year change
+3.3 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $3.1B | $559.5M | $2.6B | 17.8% |
| Mar 31, 2024 | $2.7B | $399.2M | $2.3B | 14.9% |
| Jun 30, 2024 | $2.8B | $394.0M | $2.4B | 14.0% |
| Sep 30, 2024 | $2.8B | $416.8M | $2.4B | 14.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
+0.8 pts
Year-over-year change
Sep 30, 2023
+3.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The improvement in gross margin from both the prior quarter and the year-ago quarter was driven by a lower cost of revenue relative to revenue, as gross profit increased while revenue declined or held steady.
Compared to the immediately preceding quarter, revenue was essentially unchanged, gross profit was higher, and gross margin improved. Compared to the same quarter one year earlier, revenue was lower, gross profit was slightly higher, and gross margin strengthened.
Monitor the trajectory of cost of revenue, as its decline relative to revenue was the primary observable factor behind the gross margin improvement.