Publix Reports Third Quarter 2022 Results and Stock Price

Publix’s sales for the three months ended Sept. 24, 2022 were $13 billion, a 9.2 percent increase from $11.9 billion in 2021. Comparable store sales for the three months ended Sept. 24, 2022 increased 7.6 percent.

Net earnings for the three months ended Sept. 24, 2022 were $394.1 million, compared to $856.9 million in 2021, a decrease of 54 percent. Earnings per share for the three months ended Sept. 24, 2022 decreased to $0.12 per share, down from $0.25 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 Sept. 24, 2022 would have been $808.9 million, compared to $802.5 million in 2021, an increase of 0.8 percent. Earnings per share would have been $0.24 per share, compared to $0.23 per share in 2021, adjusted for the effect of the stock split.

Publix’s sales for the nine months ended Sept. 24, 2022 were $39.2 billion, a 10.7 percent increase from $35.4 billion in 2021. Comparable store sales for the nine months ended Sept. 24, 2022 increased 9 percent.

Net earnings for the nine months ended Sept. 24, 2022 were $1.6 billion, compared to $3.4 billion in 2021, a decrease of 51.2 percent. Earnings per share for the nine months ended Sept, 24, 2022 decreased to $0.48 per share, down from $0.97 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 nine months ended Sept. 24, 2022 would have been $2.8 billion, compared to $2.6 billion in 2021, an increase of 4.7 percent. Earnings per share would have been $0.81 per share, compared to $0.76 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 Nov. 1, 2022, Publix’s stock price decreased from $13.84 per share to $13.19 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, the stock market continues to be a challenge, but I could not be more proud of Publix’s response to Hurricane Ian,” said Publix CEO Todd Jones. “Our associates’ efforts to serve our customers, our communities and each other during this difficult time have been amazing.”

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