Molson Coors Beverage Company stock research
FY2023 Q2
Molson Coors Beverage (TAP) Gross Margin — Quarter Ended Jun 30, 2023
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue was lower than a year ago but higher than the prior quarter. Gross margin improved versus both periods, reflecting a stronger relationship between revenue and cost of revenue.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue was lower than a year ago but higher than the prior quarter. Gross margin improved versus both periods, reflecting a stronger relationship between revenue and cost of revenue.
- The most observable driver of gross margin improvement is the combination of higher revenue and a proportionally smaller increase in cost of revenue compared to the prior quarter and the year-ago quarter.
- Compared to the immediately preceding quarter, gross margin was higher, driven by revenue growth that outpaced the increase in cost of revenue. Versus the same quarter one year earlier, gross margin also improved, as revenue rose while cost of revenue declined.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
31.5%
Gross profit
$1.2B
Revenue
$3.9B
Cost of revenue
$2.0B
Quarter-over-quarter change
+3.7 pts
Year-over-year change
+8.1 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 |
|---|---|---|---|---|
| Mar 31, 2023 | $2.8B | $770.7M | $1.6B | 27.8% |
| Jun 30, 2023 | $3.9B | $1.2B | $2.0B | 31.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
+3.7 pts
Year-over-year change
Jun 30, 2022
+8.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver of gross margin improvement is the combination of higher revenue and a proportionally smaller increase in cost of revenue compared to the prior quarter and the year-ago quarter.
Compared to the immediately preceding quarter, gross margin was higher, driven by revenue growth that outpaced the increase in cost of revenue. Versus the same quarter one year earlier, gross margin also improved, as revenue rose while cost of revenue declined.
Monitor the trend in cost of revenue relative to revenue, as it increased sequentially despite being lower year over year.