Five-for-one stock split has gone into effect
LAKELAND, Fla. — Publix reported sales of $13.2 billion for the first quarter of fiscal 2022, a 13.5% increase from $11.7 billion in 2021. Comparable store sales for the three months ended March 26 increased 11.7% over the prior-year period.
Net earnings for the quarter were $618 million, a decline of 58.7% versus the prior year period. Earnings per share decreased to $0.90 per share, down from $2.16 per share in 2021. Excluding the impact of net unrealized losses on equity securities in 2022 and net unrealized gains on equity securities in 2021, net earnings would have been $1.1 billion, compared to $909.8 million in 2021, an increase of 15.5%. Earnings per share would have been $1.54 per share, compared to $1.32 per share in 2021.
Publix also announced that the company’s 5-for-1 stock split was effective as of the close of business April 14. As a result of the stock split, the company’s stock price was adjusted from $68.80 per share to $13.76 per share. That price was then adjusted to $14.91 per share effective May 1, the company said. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
“After two years of the difficult pandemic, we are delighted to share the news of a stock split and now a stock price increase,” Publix CEO Todd Jones said. “This good news is the result of the efforts of our associate owners and their dedication to serving our customers, communities and each other.”