Marriott International Inc (MAR) released its first quarter results on Monday, May 10, 2021. The company reported net earnings of $-0.03 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 136 percent compared to the same period a year ago.
Marriott International, Inc. was founded in 1927 and is headquartered in Bethesda, Maryland. Marriott International, Inc. operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments.
Marriott International's revenue decreased 60 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 15.76% for the first quarter compared to the same period in the previous year, and operating margins decreased to 3.67% over the same period. Net earnings for past trailing twelve months were $-309.0 million, down 133% from the prior year.
Moving on to the balance sheet, Marriott International's cash levels dropped 64% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 27.29% this past year. The current ratio for Marriott International now stands at 0.45. The company increased shares outstanding by 0.43%.
Shares of MAR are currently trading around $141.71. In terms of valuation, the stock is trading at a price to book ratio of 197.85.