American Airlines Group Inc (AAL) released its first quarter results on Friday, April 23, 2021. The company reported net earnings of $-1.97 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 63 percent compared to the same period a year ago.
American Airlines Group Inc. was founded in 1930 and is headquartered in Fort Worth, Texas. American Airlines Group Inc., through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C., as well as through partner gateways in London, Madrid, Seattle/Tacoma, Sydney, and Tokyo.
American Airlines Group's revenue decreased 71 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 39.85% for the first quarter compared to the same period in the previous year, and operating margins decreased to 75.42% over the same period. Net earnings for past trailing twelve months were $-7894.0 million, down 967% from the prior year.
Moving on to the balance sheet, American Airlines Group’s cash levels jumped 24% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 179.46% this past year. The current ratio for American Airlines Group now stands at 1.04. The company increased shares outstanding by 51.67%.
Shares of AAL are currently trading around $21.11.