Skechers U.S.A. Inc (SKX) released its first quarter results on Sunday, April 25, 2021. The company reported net earnings of $0.63 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 98 percent compared to the same period a year ago.
Skechers U.S.A., Inc. was incorporated in 1992 and is headquartered in Manhattan Beach, California. Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers brand worldwide. It operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer.
Skechers U.S.A.'s revenue decreased 8 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 47.58% for the first quarter compared to the same period in the previous year, and operating margins increased to 10.62% over the same period. Net earnings for past trailing twelve months were $148.03 million, down 48% from the prior year.
Moving on to the balance sheet, Skechers U.S.A.’s cash levels jumped 11% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 12.01% this past year. The current ratio for Skechers U.S.A. now stands at 2.73. The company increased shares outstanding by 0.75%.
Shares of SKX are currently trading around $51.90. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 54.87 and price to book ratio of 3.14.