Publix, a privately held, employee-owned corporation, released limited Q2 FY 2024 financial data on August 1st for the period ending June 29th 2024. Sales for Q2 2024 attained $14,500 million, up 3.1 percent from Q2 2023 at $14,100. Net earnings were $972 million compared to $1,097 million in Q2 of 2023, down 11.4 percent. Earnings per share attained $0.29 compared to $0.31 in Q2 2023. Comparable same store sales were up 1.1 percent compared to Q2 2023.
Net margin was 6.7 percent compared to the Kroger Company and Albertsons Corp. at 2.1 and 1.0 percent respectively for Q1 2024. High-end specialty chain Sprouts Farmers’ market posted a net margin of 5.0 percent for their most recently completed quarter.
According to the Publix SEC Q-10 submission, total assets on June 29th 2023 were $35,752 million with long-term debt and lease obligations of $3,465 million.
Share price was adjusted upward from $16.25 to $16.46 on August 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,”