Publix Reports Second Quarter 2022 Results and Stock Price

Publix’s sales for the three months ended June 25, 2022, were $12.9 billion, a 9.3 percent increase from $11.8 billion in 2021. Comparable store sales for the three months ended June 25, 2022, increased 7.8 percent.

Net earnings for the three months ended June 25, 2022, were $628.4 million, compared to $1 billion in 2021, a decrease of 37.7 percent. Earnings per share for the three months ended June 25, 2022, decreased to $0.18 per share, down from $0.29 per share in 2021, adjusted for the effect of the 5-for-1 stock split that occurred on April 14, 2022. Excluding the impact of net unrealized losses on equity securities in 2022 and net unrealized gains on equity securities in 2021, net earnings for the three months ended June 25, 2022, would have been $895.5 million, compared to $920.3 million in 2021, a decrease of 2.7 percent. Earnings per share would have been $0.26 per share, compared to $0.27 per share in 2021, adjusted for the effect of the stock split.

Publix’s sales for the six months ended June 25, 2022, were $26.2 billion, an 11.4 percent increase from $23.5 billion in 2021. Comparable store sales for the six months ended June 25, 2022, increased 9.7 percent.

Net earnings for the six months ended June 25, 2022, were $1.2 billion, compared to $2.5 billion in 2021, a decrease of 50.2 percent. Earnings per share for the six months ended June 25, 2022, decreased to $0.37 per share, down from $0.72 per share in 2021, adjusted for the effect of the stock split. Excluding the impact of net unrealized losses on equity securities in 2022 and net unrealized gains on equity securities in 2021, net earnings for the six months ended June 25, 2022, would have been $1.9 billion, compared to $1.8 billion in 2021, an increase of 6.4 percent. Earnings per share would have been $0.57 per share, compared to $0.53 per share in 2021, adjusted for the effect of the stock split.

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 Aug. 1, 2022, Publix’s stock price decreased from $14.91 per share to $13.84 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.

“Unfortunately, our results were not enough to offset challenges in the stock market,” said Publix CEO Todd Jones. “I continue to be proud of our associates for making shopping a pleasure at Publix.”

For more information, visit the company’s official press release.