Publix, a privately held, employee-owned corporation, released limited Q1 FY 2024 financial data on May 1st for the period ending March 30th 2023. Sales for Q1 2024 attained $15,100 million, up 5.0 percent from Q1 2023 at $14,300. Net earnings were $1,366 million compared to $1,241 million in Q1 of 2023, up 10.1 percent. Earnings per share attained $0.33 compared to $0.32 in Q1 2022. Comparable same store sales were up 2.8 percent compared to Q1 2023.
Net margin was 9.1 percent compared to the Kroger Company and Albertsons Corp. at 2.0 and 1.5 percent respectively for Q4 2023. High-end specialty chain Sprouts Farmers’ market posted a net margin of 6.1 percent for the most recently completed quarter.
According to the Publix SEC Q-10 submission, total assets on March 30th 2023 were $35,764 million with long-term debt and lease obligations of $2,649 million.
Share p
rice was adjusted upward from $15.20 to $16.25 on May 1st.
In commenting on results CEO Kevin Murphy stated “I’m proud of our associates, the owners of Publix, for continuing to make shopping a pleasure for our customers,”