Constellation Brands, Inc. stock research
FY2024 Q1
Constellation Brands (STZ) Gross Margin — Quarter Ended May 31, 2023
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved from the prior quarter but weakened relative to the same quarter last year.
Gross margin takeaway
Quarter ended May 31, 2023 · FY2024 Q1
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved from the prior quarter but weakened relative to the same quarter last year.
- Gross margin in the current quarter is between the higher year-ago level and the lower prior-quarter level, reflecting a mixed trend. The improvement from the prior quarter is the most notable sequential change.
- Compared to the prior quarter, revenue and gross profit are higher, and gross margin has improved. Compared to the same quarter last year, revenue is slightly higher, but gross profit is similar and gross margin is lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
50.0%
Gross profit
$1.3B
Revenue
$2.5B
Cost of revenue
$1.3B
Quarter-over-quarter change
n/a
Year-over-year change
-3.1 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 |
|---|---|---|---|---|
| May 31, 2023 | $2.5B | $1.3B | $1.3B | 50.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
May 31, 2022
-3.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin in the current quarter is between the higher year-ago level and the lower prior-quarter level, reflecting a mixed trend. The improvement from the prior quarter is the most notable sequential change.
Compared to the prior quarter, revenue and gross profit are higher, and gross margin has improved. Compared to the same quarter last year, revenue is slightly higher, but gross profit is similar and gross margin is lower.
Monitor the trend in gross margin relative to the prior quarter's improvement to see if the sequential strengthening is sustained.