Lakeland, Florida – (work wire) – Publix sales for the three months ending September 24, 2022 were $13 billion, up 9.2% from $11.9 billion in 2021. Similar store sales for the three months ending September 24, 2022 increased 7.6%.

Net profit for the three months ended September 24, 2022 was $394.1 million, compared to $856.9 million in 2021, a decrease of 54%. Earnings per share for the three months ended September 24, 2022, decreased to $0.12 per share, down from $0.25 per share in 2021, after adjusting for the impact of the 5-for-1 stock split that occurred on April 14, 2022. Excluding the effect of net unrealized losses on Securities in 2022 and net unrealized gains on securities in 2021, net profit for the three months ended September 24, 2022 was $808.9 million, compared to $802.5 million in 2021, an increase of 0.8%. Earnings per share would have been $0.24 per share, compared to $0.23 per share in 2021, after adjusting for the impact of a stock split.

Publix sales for the nine months ending September 24, 2022 were $39.2 billion, an increase of 10.7% from $35.4 billion in 2021. Similar store sales for the nine months ending September 24, 2022 increased 9%.

Net profit for the nine months ended September 24, 2022, was $1.6 billion, compared to $3.4 billion in 2021, a decrease of 51.2%. Earnings per share for the nine months ended September 24, 2022, decreased to $0.48 per share, down from $0.97 per share in 2021, after adjusting for the impact of a stock split. Excluding the impact of net unrealized losses on securities in 2022 and net unrealized gains on securities in 2021, net profit for the nine months ended September 24, 2022 was $2.8 billion, compared to $2.6 billion in 2021, an increase of 4.7%. Earnings per share were $0.81 per share, compared to $0.76 per share in 2021, after adjusting for the impact of a stock split.

These amounts are based on unaudited financial statements that will be filed today with the US Securities and Exchange Commission and made available at the company’s website at enterprise.publix.com/stock.

As of November 1, 2022, the share price of Publix has 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 existing Publix partners and members of its board of directors.

“Unfortunately, the stock market remains challenging, but I couldn’t be more proud of Publix’s response to Hurricane Ian,” said Publix CEO Todd Jones. “The efforts of our partners to serve our customers, our communities, and each other during this difficult time have been amazing.”

Non-GAAP Financial Actions

In addition to reporting financial results for the three and nine months ending September 24, 2022 and September 25, 2021 in accordance with US Generally Accepted Accounting Principles (GAAP), the company presents net earnings and earnings per share excluding the effect of equity securities are measured at fair value with net recognition Unrealized gains and losses from changes in fair value in profit (fair value adjustment). These procedures are not in accordance with or a substitute for generally accepted accounting principles. The Company excludes the effect of the fair value adjustment because it is mainly due to temporary fluctuations in the stock market that do not reflect the Company’s operations. The Company believes that this information is useful in providing periodic comparisons of results of operations. All applicable stock and share amounts have been retrospectively adjusted to trigger a stock split.

The following is a reconciliation of net profit to net profit excluding the effect of fair value adjustment for the three months ended September 24, 2022 and September 25, 2021:

Three months are up

September 24, 2022

September 25, 2021

(amounts in millions,

excluding amounts per share)

Net profit

$

394.1

856.9

Adjustment of the fair value, due to the unrealized net loss (profit) of securities held at the end of the period

556.3

(72.9

)

Income Tax (Benefit) Calculation (1)

(141.5 .)

)

18.5

Net profit excluding the effect of fair value adjustment

$

808.9

802.5

Weighted average shares outstanding

3,366.1

3444.4

Earnings per share excluding the effect of fair value adjustment

$

0.24

0.23

The following is a reconciliation of net profit with net profit excluding the effect of fair value adjustment for the nine months ended September 24, 2022 and September 25, 2021:

Nine months are over

September 24, 2022

September 25, 2021

(amounts in millions,

excluding amounts per share)

Net profit

$

1,640.5

3,361.4

Adjustment of the fair value, due to the unrealized net loss (profit) of securities held at the end of the period

1,495.3

(98986.7

)

Net gain on sale of previously recognized securities by fair value adjustment

9.4

Income Tax (Benefit) Calculation (1)

(380.2

)

248.5

Net profit excluding the effect of fair value adjustment

$

2,755.6

2632.6

Weighted average shares outstanding

3,394.4

3,453.6

Earnings per share excluding the effect of fair value adjustment

$

0.81

0.76

(1) Income tax expense (benefits) is based on the company’s combined federal and state statutory income tax rates.

Publix, the largest employee-owned company in the United States with more than 240,000 employees, currently operates 1,308 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia. For 25 consecutive years, the company has been recognized by luck As a great place to work. Additionally, Publix’s dedication to superior quality and customer service has been recognized among the best in the grocery business. For more information, visit the company newsroom at enterprise.publix.com/newsroom.

Leave a Reply