Molson Coors Beverage Company stock research
FY2023 Q1
Molson Coors Beverage (TAP) Gross Margin — Quarter Ended Mar 31, 2023
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year. Cost of revenue was lower than the prior quarter but higher than a year ago, resulting in a gross margin that weakened from both comparison periods.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year. Cost of revenue was lower than the prior quarter but higher than a year ago, resulting in a gross margin that weakened from both comparison periods.
- The gross margin declined from both the immediately preceding quarter and the same quarter one year earlier, driven by a proportionally larger decrease in gross profit relative to revenue. The strongest observable driver is the relationship between cost of revenue and revenue, as cost of revenue fell less than revenue sequentially and rose year over year while revenue increased only modestly.
- Compared to the prior quarter, revenue and gross profit were lower, cost of revenue was lower, and gross margin weakened. Compared to the same quarter last year, revenue was higher, gross profit was lower, cost of revenue was higher, and gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
27.8%
Gross profit
$770.7M
Revenue
$2.8B
Cost of revenue
$1.6B
Quarter-over-quarter change
n/a
Year-over-year change
-7.3 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 |
|---|---|---|---|---|
| Mar 31, 2023 | $2.8B | $770.7M | $1.6B | 27.8% |
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
Mar 31, 2022
-7.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin declined from both the immediately preceding quarter and the same quarter one year earlier, driven by a proportionally larger decrease in gross profit relative to revenue. The strongest observable driver is the relationship between cost of revenue and revenue, as cost of revenue fell less than revenue sequentially and rose year over year while revenue increased only modestly.
Compared to the prior quarter, revenue and gross profit were lower, cost of revenue was lower, and gross margin weakened. Compared to the same quarter last year, revenue was higher, gross profit was lower, cost of revenue was higher, and gross margin weakened.
Monitor the trajectory of cost of revenue relative to revenue, as its slower decline sequentially and increase year over year compressed gross margin.