Publix boosted earnings in the third quarter by adding $1 billion to sales versus the prior-year period.
Net earnings for the quarter were $833 million versus $394 million in the year-past period, the company noted, as earnings per share increased to 25 cents from 12 cents year over year, the company noted.
With the impact of net unrealized losses on equity securities in 2023 and 2022 excluded, net earnings for the quarter were $940 million versus $809 million in the year-earlier period with earnings per share increasing to 28 cents from 24 cents year over year.
Sales were $14 billion, up from $13 billion in the year-previous quarter, the company reported, as comparable store sales increased 4.3%.
On November 1, Publix’s stock price increased from $14.75 per share to $15.10 per share. The company stock is not publicly traded and made available for sale only to current Publix employees and members of its board of directors.
