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Publix Produces Solid Q3

Despite dealing with Hurricanes Irma, Florence and Michael, Publix grew both sales and earnings in its third quarter.

Publix’s sales for the third quarter ended September 29 were $8.8 billion, a 3.2% increase from $8.5 billion in 2017. Comparable store sales for the three months ended September 29, 2018 increased 0.6%. The company estimates the increase in sales compared to previous third quarter was 3.1% lower due to the impact of Hurricane Irma in September 2017. Excluding the impact of the hurricane, sales for the third quarter would have increased 6.3% and comparable store sales would have increased 3.7%.

Net earnings for the third quarter were $677.7 million, compared to $474.9 million in 2017, an increase of 42.7%. Earnings per share increased to $0.94, up from $0.63 per share in 2017.

“In the last six weeks, many of our associates and customers have faced difficult times with Hurricanes Florence and Michael,” said Todd Jones, Publix CEO and president. “I’m proud of our associates for their extra efforts and pleased with our team’s results.”