The Coca-Cola Co (KO) released its first quarter results on Monday, April 19, 2021. The company reported net earnings of $0.52 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 19 percent compared to the same period a year ago.
The company was founded in 1886 and is headquartered in Atlanta, Georgia. The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks.
Coca-Cola's revenue decreased 10 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 65.2% for the first quarter compared to the same period in the previous year, and operating margins decreased to 30.42% over the same period. Net earnings for past trailing twelve months were $7.2 billion, down 28% from the prior year.
Moving on to the balance sheet, Coca-Cola’s cash levels dropped 37% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 52.65% this past year. The current ratio for Coca-Cola now stands at 1.33. The company increased share outstanding by 0.4%.
Shares of KO are currently trading around $54.00. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 32.35 and price to book ratio of 11.49.