Tyson Foods, Inc. stock research
FY2024 Q1
Tyson Foods (TSN) Gross Margin — Quarter Ended Dec 30, 2023
Gross margin improved from the prior quarter but declined from the same quarter a year earlier. Revenue remained stable while cost of revenue decreased sequentially and increased year over year, directly driving the margin changes.
Gross margin takeaway
Quarter ended Dec 30, 2023 · FY2024 Q1
Gross margin improved from the prior quarter but declined from the same quarter a year earlier. Revenue remained stable while cost of revenue decreased sequentially and increased year over year, directly driving the margin changes.
- The quarter-over-quarter gross margin improvement was driven by a lower cost of revenue relative to stable revenue. The year-over-year decline in gross margin was driven by a higher cost of revenue relative to stable revenue.
- Compared to the prior quarter, gross profit increased and gross margin improved. Compared to the same quarter one year earlier, gross profit decreased and gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
6.2%
Gross profit
$823.0M
Revenue
$13.3B
Cost of revenue
$12.5B
Quarter-over-quarter change
+2.7 pts
Year-over-year change
-1.1 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 |
|---|---|---|---|---|
| Apr 1, 2023 | $13.1B | $527.0M | $12.6B | 4.0% |
| Jul 1, 2023 | $13.1B | $677.0M | $12.5B | 5.2% |
| Sep 30, 2023 | $13.3B | $459.0M | $12.9B | 3.4% |
| Dec 30, 2023 | $13.3B | $823.0M | $12.5B | 6.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
+2.7 pts
Year-over-year change
Dec 31, 2022
-1.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The quarter-over-quarter gross margin improvement was driven by a lower cost of revenue relative to stable revenue. The year-over-year decline in gross margin was driven by a higher cost of revenue relative to stable revenue.
Compared to the prior quarter, gross profit increased and gross margin improved. Compared to the same quarter one year earlier, gross profit decreased and gross margin weakened.
Monitor cost of revenue trends, as changes in this metric directly affect gross margin.