Publix reports Q3 results

Publix’s sales for the three months ended Sept. 28, 2024, were $14.6 billion, a 4.9% increase from $14 billion in 2023. Comparable store sales for the three months ended Sept. 28, 2024, increased 3.4%. The company estimates sales for the three months ended Sept. 28, 2024, increased .6% due to the impact of Hurricane Helene.

The Lakeland, Fla.-based retailer's net earnings for the three months ended Sept. 28, 2024, were $1.1 billion, compared to $833 million in 2023, an increase of 31.7%. Earnings per share for the three months ended Sept. 28, 2024, increased to 33 cents per share, up from 25 cents per share in 2023. Excluding the impact of net unrealized gains on equity securities in 2024 and net unrealized losses on equity securities in 2023, net earnings for the three months ended Sept. 28, 2024, would have been $930 million, compared to $940 million in 2023, a decrease of 1.1%. Earnings per share for the three months ended Sept. 28, 2024, and Sept. 30, 2023, would have been 28 cents per share.

Publix’s sales for the nine months ended Sept. 28, 2024, were $44.2 billion, a 4.3% increase from $42.4 billion in 2023. Comparable store sales for the nine months ended Sept. 28, 2024 increased 2.5%.

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Net earnings for the nine months ended Sept. 28, 2024, were $3.4 billion, compared to $3.2 billion in 2023, an increase of 8.3%. Earnings per share for the nine months ended Sept. 28, 2024, increased to $1.04 per share, up from 95 cents per share in 2023. Excluding the impact of net unrealized gains on equity securities in 2024 and 2023, net earnings for the nine months ended Sept. 28, 2024, would have been $2.9 billion, compared to $3 billion in 2023, a decrease of 3%. Earnings per share for the nine months ended Sept. 28, 2024, would have been 90 cents per share, compared to 91 cents per share in 2023.

These amounts are based on unaudited financial statements that will be filed today with the U.S. Securities and Exchange Commission and made available on the company’s website at corporate.publix.com/stock.

Effective Nov. 1, 2024, Publix’s stock price increased from $16.46 per share to $18.05 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.

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Customers have faced difficult times with Hurricanes Helene and Milton,” said Publix CEO Kevin Murphy. “I’m so proud of our associates for the comfort they bring to our customers and their fellow associates.”