Publix reports Q1 2023 results
Publix’s sales for the three months ended April 1, 2023, were $14.3 billion, an 8.2% increase from $13.2 billion in 2022. Comparable store sales for the three months ended April 1, 2023, increased 6.4%.
Net earnings for the three months ended April 1, 2023, were $1.2 billion, compared to $618 million in 2022, an increase of 100.8%. Earnings per share for the three months ended April 1, 2023, increased to 37 cents per share, up from 18 cents per share in 2022, adjusted for the effect of the 5-for-1 stock split that occurred on April 14, 2022.
[Read more: Publix announces 4th Kentucky location]
Excluding the impact of net unrealized gains on equity securities in 2023 and net unrealized losses on equity securities in 2022, net earnings for the three months ended April 1, 2023, and March 26, 2022, would have been $1.1 billion. Earnings per share would have been 32 cents per share, compared to 31 cents per share in 2022, adjusted for the effect of the stock split, Publix said.
[Read more: Publix Pharmacy debuts curbside pickup in select stores]
“I’m proud of our associates, the owners of Publix, for continuing to make us a leader in our industry and providing a great shopping experience,” said Publix CEO Todd Jones.