Publix Reports First Quarter 2024 Financial Results; Kevin Murphy Comments

Florida’s beloved retailer, Publix, is once again proving that its loyal band of shoppers and incredible team of associates is a winning strategy for success. The retailer recently reported its financial results for Q1 2024 and reported strong growth given that quarterly sales eclipsed $15.1 billion.

“I’m proud of our associates, the owners of Publix, for continuing to make shopping a pleasure for our customers,” said Chief Executive Officer Kevin Murphy.

Among its financial results, Publix reported that its sales for the three months ended March 30, 2024, reached 15.1 billion. This represents a 5 percent climb from the 14.3 billion recorded in 2023. A press release also noted that the retailer estimates sales increased 1 percent due to the effect of the Easter holiday being in the first quarter of 2024; the effect of the Easter holiday was in the second quarter of 2023.

Other key highlights shared in the report include:

• Net earnings for the three months ended March 30, 2024, were $1.4 billion, compared to $1.2 billion in 2023, an increase of 10.1 percent
• Earnings per share for the three months ended March 30, 2024, increased to $0.41 per share, up from $0.37 per share in 2023
• Excluding the impact of net unrealized gains on equity securities in 2024 and 2023, net earnings for the three months ended March 30, 2024 and April 1, 2023 would have been $1.1 billion

If you’re interested in reading more about the retailer's financial report, click here.

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