During the second quarter, Publix made solid sales and earnings gains year over year.
Net earnings for the three months ended July 1 were $1.1 billion, or 33 cents per share, compared to $628 million, or 18 cents per share, in the year-past period, the company stated.
With the impact of net unrealized gains on equity securities in 2023 and net unrealized losses on equity securities in 2022 excluded, net earnings for the quarter were $1.04 billion, or 31 cents per share, compared to $896 million, or 26 cents per share, in the year-previous period, according to Publix.
Sales were $14.09 billion, up 8.9% from the year-prior quarter. Comparable sales advanced 6.2% in the period year over year.
Effective August 1, Publix’s share price decreased from $14.97 per share to $14.75 per share. Publix stock is not publicly traded and is available for sale only to current Publix associates and members of its board of directors.
“As we enter the last half of the year, our associates remain focused on operational excellence and providing premier customer service,” said Publix CEO Todd Jones, in announcing the financial results.
