FORT_1170x120_9-15-20

Publix posts 18.3% sales gain in Q3

Print Friendly, PDF & Email
LAKELAND, Fla. — Publix reported sales of $11.1 billion for the third quarter, up 18.3% from the year-ago period. Comparable store sales increased by 16.5%.

The company estimates that about $1.25 billion, or 13.4%, of its sales gain in the quarter ended September 26 was due to the impact of the coronavirus pandemic.

Net earnings for the three months were $917.6 million, compared to $574 million in 2019, an increase of 59.9%. Earnings per share for the quarter increased to $1.31 per share, up from $0.81 per share in 2019. Excluding the impact of net unrealized gains on equity securities in 2020 and net unrealized losses on equity securities in 2019, net earnings for the three months would have been $836.2 million, compared to $580.3 million in 2019, an increase of 44.1%. Earnings per share would have been $1.20 per share, compared to $0.81 per share in 2019.

Publix’s sales for the nine monthswere $33.7 billion, an 18.7% increase from $28.4 billion in 2019. Comparable store sales for the year-to-date period increased 16.9%. The company estimates that about $33.7 billion, or 13.2%, of the sales increase for the nine months, was due to the impact of COVID-19.

Net earnings for the nine months were $3 billion, compared to $2.2 billion in 2019, an increase of 33.2%. Earnings per share for the year-to-date period increased to $4.20 per share, up from $3.10 per share in 2019. Excluding the impact of net unrealized gains on equity securities in 2020 and 2019, net earnings for the nine months would have been $2.8 billion, an increase of 41.4%, and earnings per share would have been $3.94 per share, compared to $2.74 per share in 2019.

These amounts are based on unaudited financial statements filed on Monday with the U.S. Securities and Exchange Commission, the company said.

“Our associates’ efforts to serve our customers, our communities and each other during this challenging time continues to be extraordinary,” Publix CEO Todd Jones said in a statement. “I couldn’t be more proud of their hard work and dedication.”


NT_728x90_2-4-19

FREUD_728x90_6-19-20

Comments are closed.