Molson Coors Beverage Company stock research
FY2023 Q4
Molson Coors Beverage (TAP) Gross Margin — Quarter Ended Dec 31, 2023
Revenue and gross profit both decreased compared to the prior quarter, while cost of revenue also declined. Gross margin weakened from the prior quarter but improved relative to the same quarter one year earlier.
Gross margin takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue and gross profit both decreased compared to the prior quarter, while cost of revenue also declined. Gross margin weakened from the prior quarter but improved relative to the same quarter one year earlier.
- The gross margin improved compared to the same quarter last year, driven by a proportionally larger decline in cost of revenue relative to the change in revenue. The sequential weakening from the prior quarter reflects a more balanced decline in both revenue and cost of revenue.
- Compared to the immediately preceding quarter, revenue, gross profit, and cost of revenue were all lower, and gross margin weakened. Compared to the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
31.0%
Gross profit
$1.0B
Revenue
$3.3B
Cost of revenue
$1.8B
Quarter-over-quarter change
-3.5 pts
Year-over-year change
+1.6 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% |
| Sep 30, 2023 | $3.9B | $1.3B | $2.0B | 34.5% |
| Dec 31, 2023 | $3.3B | $1.0B | $1.8B | 31.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
-3.5 pts
Year-over-year change
Dec 31, 2022
+1.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved compared to the same quarter last year, driven by a proportionally larger decline in cost of revenue relative to the change in revenue. The sequential weakening from the prior quarter reflects a more balanced decline in both revenue and cost of revenue.
Compared to the immediately preceding quarter, revenue, gross profit, and cost of revenue were all lower, and gross margin weakened. Compared to the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin improved.
Monitor the trajectory of cost of revenue relative to revenue, as the margin improvement over last year was supported by a favorable shift in that relationship.