Alaska Air Group Inc. (ALK) released its first quarter results on Friday, April 23, 2021. The company reported net earnings of $-1.05 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 44 percent compared to the same period a year ago.
The company was founded in 1932 and is based in Seattle, Washington. Alaska Air Group, Inc., through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon.
Alaska Air Group's revenue decreased 68 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 16.69% for the first quarter compared to the same period in the previous year, and operating margins decreased to 16.56% over the same period. Net earnings for past trailing twelve months were $-1206.0 million, down 326% from the prior year.
Moving on to the balance sheet, Alaska Air Group’s cash levels jumped 31% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 30.47% this past year. The current ratio for Alaska Air Group now stands at 0.9. The company increased shares outstanding by 1.51%.
Shares of ALK are currently trading around $69.21. In terms of valuation, the stock is trading at a book ratio of 2.99.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Saturday, April 24, 2021.