Molson Coors Beverage Company stock research
FY2024 Q4
Molson Coors Beverage (TAP) Gross Margin — Quarter Ended Dec 31, 2024
Revenue and gross profit both decreased compared to the prior quarter, while cost of revenue also declined. Gross margin weakened slightly from the prior quarter but improved relative to the same quarter one year earlier.
Gross margin takeaway
Quarter ended Dec 31, 2024 · FY2024 Q4
Revenue and gross profit both decreased compared to the prior quarter, while cost of revenue also declined. Gross margin weakened slightly from the prior quarter but improved relative to the same quarter one year earlier.
- The strongest observable margin driver is the relationship between revenue and cost of revenue: revenue declined more sharply than cost of revenue compared to the prior quarter, compressing gross margin. Compared to the year-ago quarter, cost of revenue decreased while revenue was slightly lower, allowing gross margin to improve.
- 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 was slightly lower, gross profit was stable, cost of revenue was lower, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
32.0%
Gross profit
$1.0B
Revenue
$3.2B
Cost of revenue
$1.7B
Quarter-over-quarter change
-1.4 pts
Year-over-year change
+1.0 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, 2024 | $3.0B | $963.5M | $1.6B | 31.6% |
| Jun 30, 2024 | $3.8B | $1.3B | $1.9B | 34.6% |
| Sep 30, 2024 | $3.6B | $1.2B | $1.8B | 33.4% |
| Dec 31, 2024 | $3.2B | $1.0B | $1.7B | 32.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2024
-1.4 pts
Year-over-year change
Dec 31, 2023
+1.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the relationship between revenue and cost of revenue: revenue declined more sharply than cost of revenue compared to the prior quarter, compressing gross margin. Compared to the year-ago quarter, cost of revenue decreased while revenue was slightly lower, allowing gross margin to improve.
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 was slightly lower, gross profit was stable, cost of revenue was lower, and gross margin improved.
Monitor the trajectory of cost of revenue relative to revenue, as its movement was the primary factor in gross margin changes this quarter.