Publix, a privately held, employee-owned corporation, released limited Q3 FY 2024 financial data on November 1st for the period ending September 28th 2024. Sales for Q3 2024 attained $14,600 million, up 4.9 percent from Q3 2023 at $14,000. Net earnings were $1,097 million compared to $835 million in Q3 of 2023, up 31.4 percent. Earnings per share attained $0.33 compared to $0.25 in Q3 2023. Comparable same store sales were up 3.4 percent compared to Q3 2023. Operating margin fror Q3 2024 was 6.9 percent compared to 7.5 percent during Q3 2023.
Net margin was 7.5 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 September 28th 2023 were $36,851 million with long-term debt, lease and finance obligations of $3,459 million.
Share price was adjusted upward from $16.46 to $18.05 on November 1st.
In commenting on results CEO Kevin Murphy stated “During the last several weeks, many of our associates and customers have faced difficult times with Hurricanes Helene and Milton,” He added “I’m so proud of our associates for the comfort they bring to our customers and their fellow associates.”