Publix reported gains in earnings and sales for its third quarter.
Net earnings increased 31.7% to $1.1 billion for the quarter ended Sept. 28, compared to $833 million in 2023. Earnings per share increased to $0.33 per share, up from $0.25 per share in 2023.
Sales rose 4.9% to $14.6 billion. Comparable store sales increased 3.4%. The company estimates sales for the quarter increased 0.6% due to the impact of Hurricane Helene.
“During the last several weeks, many of our associates and 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.”
Effective Nov. 1, 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.)
The grocer'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 increased 2.5%.
Publix, the largest employee-owned company in the U.S. with more than 255,000 associates, currently operates 1,383 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Kentucky.