Publix Releases Q3 Earnings


Privately held Publix Inc released sales and earnings for the third quarter of FY2020 on November 2nd.  For the quarter ending September 26th 2020, earnings attained $918 million on sales of $11.1 billion, with an EPS of $1.31.  This data compares with Q3 of Fiscal 2019 with earnings of $574 million on sales of $9.3 billion with an EPS of $0.81.  The company ascribed $1.25 billion of earnings in the third quarter of 2020 to COVID-related buying.  Same-store sales showed a 16.5 percent increase in Q3 2020 compared to the corresponding quarter of 2019. 


Publix operates 1,251 stores in Southeast and mid-Atlantic states.  In commenting on results, CEO Todd Jones stated, “Our associates’ efforts to serve our customers, our communities, and each other during this challenging time continues to be extraordinary.” 


Publix calculates a stock price based on earnings and peer performance.  Only employees and directors are eligible to purchase equity in the company.  Based on earnings, Publix adjusted stock price from $54.35 to $57.95 on November 1st.