Molson Coors Beverage Company stock research
FY2024 Q2
Molson Coors Beverage (TAP) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue rose at a slower pace, leading to an improved gross margin. Versus the same quarter one year earlier, revenue was slightly lower but gross profit was higher, with cost of revenue declining and gross margin strengthening.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue rose at a slower pace, leading to an improved gross margin. Versus the same quarter one year earlier, revenue was slightly lower but gross profit was higher, with cost of revenue declining and gross margin strengthening.
- The gross margin improved sequentially and year-over-year, driven by a combination of higher gross profit and a lower cost of revenue relative to revenue. The strongest observable driver is the reduction in cost of revenue as a share of revenue.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue increased less proportionally, and gross margin improved. Compared to the same quarter one year earlier, revenue was slightly lower but gross profit was higher, cost of revenue declined, and gross margin strengthened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
34.6%
Gross profit
$1.3B
Revenue
$3.8B
Cost of revenue
$1.9B
Quarter-over-quarter change
+3.1 pts
Year-over-year change
+3.2 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 |
|---|---|---|---|---|
| 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% |
| Jun 30, 2024 | $3.8B | $1.3B | $1.9B | 34.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+3.1 pts
Year-over-year change
Jun 30, 2023
+3.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially and year-over-year, driven by a combination of higher gross profit and a lower cost of revenue relative to revenue. The strongest observable driver is the reduction in cost of revenue as a share of revenue.
Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue increased less proportionally, and gross margin improved. Compared to the same quarter one year earlier, revenue was slightly lower but gross profit was higher, cost of revenue declined, and gross margin strengthened.
Monitor the trajectory of cost of revenue relative to revenue in upcoming quarters to assess whether the improved margin can be sustained.