Publix’s sales for the three months ended June 26, 2021 were $11.8 billion, a 3.9% increase from $11.4 billion in 2020. Comparable store sales for the three months ended June 26, 2021 increased 2.3%.

Net earnings for the three months ended June 26, 2021 were $1 billion, compared to $1.4 billion in 2020, a decrease of 26.2%. Earnings per share for the three months ended June 26, 2021 decreased to $1.46 per share, down from $1.94 per share in 2020. Excluding the impact of net unrealized gains on equity securities in 2021 and 2020, net earnings for the three months ended June 26, 2021 would have been $920.3 million, compared to $978.3 million in 2020, a decrease of 5.9%. Earnings per share would have been $1.33 per share, compared to $1.39 per share in 2020.

Publix’s sales for the six months ended June 26, 2021 were $23.5 billion, a 3.9% increase from $22.6 billion in 2020. Comparable store sales for the six months ended June 26, 2021 increased 2.4%.

Net earnings for the six months ended June 26, 2021 were $2.5 billion, compared to $2 billion in 2020, an increase of 23.1%. Earnings per share for the six months ended June 26, 2021 increased to $3.62 per share, up from $2.89 per share in 2020. Excluding the impact of net unrealized gains on equity securities in 2021 and 2020, net earnings for the six months ended June 26, 2021 would have been $1.8 billion, compared to $1.9 billion in 2020, a decrease of 5.4%. Earnings per share would have been $2.65 per share, compared to $2.74 per share in 2020.

These amounts are based on unaudited financial statements that will be filed today with the U.S. Securities and Exchange Commission and made available on the company’s website at corporate.publix.com/stock.

Effective Aug. 1, 2021, Publix’s stock price increased from $61.30 per share to $63.10 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.

“Throughout the pandemic, our associates have continued to provide legendary customer service,” said Publix CEO Todd Jones. “I’m so thankful to serve alongside them in making shopping at Publix a pleasure.”

Non-GAAP Financial Measures

In addition to reporting financial results for the three and six months ended June 26, 2021 and June 27, 2020 in accordance with U.S. generally accepted accounting principles (GAAP), the company presents net earnings and earnings per share excluding the impact of equity securities being measured at fair value with net unrealized gains and losses from changes in the fair value recognized in earnings (fair value adjustment). These measures are not in accordance with, or an alternative to, GAAP. The company excludes the impact of the fair value adjustment since it is primarily due to temporary equity market fluctuations that do not reflect the company’s operations. The company believes this information is useful in providing period-to-period comparisons of the results of operations.

Following is a reconciliation of net earnings to net earnings excluding the impact of the fair value adjustment for the three months ended June 26, 2021 and June 27, 2020:

Following is a reconciliation of net earnings to net earnings excluding the impact of the fair value adjustment for the six months ended June 26, 2021 and June 27, 2020:

Publix, the largest employee-owned company in the U.S. with more than 225,000 associates, currently operates 1,273 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia. For 24 consecutive years, the company has been recognized by Fortune as a great place to work. In addition, Publix’s dedication to superior quality and customer service is recognized among the top in the grocery business. For more information, visit the company’s website, corporate.publix.com.

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