Molson Coors Beverage Company stock research
FY2024 Q1
Molson Coors Beverage (TAP) Gross Margin — Quarter Ended Mar 31, 2024
Revenue and gross profit both decreased compared to the prior quarter, while cost of revenue also declined. Gross margin improved slightly versus the prior quarter and showed a more notable improvement compared to the same quarter one year earlier.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue and gross profit both decreased compared to the prior quarter, while cost of revenue also declined. Gross margin improved slightly versus the prior quarter and showed a more notable improvement compared to the same quarter one year earlier.
- The strongest observable margin driver is the gross margin rate, which improved relative to both the prior quarter and the year-ago quarter, despite lower revenue and gross profit in absolute terms.
- Compared to the immediately preceding quarter, revenue and gross profit were lower, but gross margin was higher. Compared to the same quarter one year earlier, revenue and gross profit were higher, and gross margin was also higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
31.6%
Gross profit
$963.5M
Revenue
$3.0B
Cost of revenue
$1.6B
Quarter-over-quarter change
+0.6 pts
Year-over-year change
+3.8 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 |
|---|---|---|---|---|
| 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% |
| Mar 31, 2024 | $3.0B | $963.5M | $1.6B | 31.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
+0.6 pts
Year-over-year change
Mar 31, 2023
+3.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the gross margin rate, which improved relative to both the prior quarter and the year-ago quarter, despite lower revenue and gross profit in absolute terms.
Compared to the immediately preceding quarter, revenue and gross profit were lower, but gross margin was higher. Compared to the same quarter one year earlier, revenue and gross profit were higher, and gross margin was also higher.
Monitor the trajectory of cost of revenue relative to revenue, as the gross margin improvement occurred alongside a decline in both absolute cost and revenue.