Net loss on sale of equity securities previously recognized through fair value adjustmentIn addition to reporting financial results for the three months ended March 28, 2020 and March 30, 2019 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). Publix Super Markets posted double-digit gains in net and comparable-store sales for its fiscal 2020 first quarter, citing a late-quarter spurt in business from the COVID-19 outbreak. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.Earnings per share excluding impact of fair value adjustmentNet earnings excluding impact of fair value adjustment"Never before have we experienced a more challenging time," said Publix CEO Todd Jones. View Publix Super Markets' (OTCMKTS:PUSH) earnings history, next earnings date and earnings forecasts from top-rated Wall Street analysts at MarketBeat.
Earnings per share for the three months ended March 28, 2020 decreased to $0.94 per share, down from $1.37 per share in 2019. These measures are not in accordance with, or an alternative to, GAAP.
But, the next time you travel to Florida, Georgia, Alabama, South Carolina, North Carolina, Tennessee, or Virginiaâmake sure you visit the store âwhere shopping is a pleasureâ during your stay.Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. Currently, we are not able to service customers outside of the United States, and our site is not fully available internationally. S&P 500 3,235.66 (-1.23%) DOW 26,652.33 (-1.31%) QQQ 257.31 (-2.88%) … Excluding losses and gains on equity securities, net earnings would have been $956.2 million, up 28.9%, Publix said. https://www.theshelbyreport.com/2020/05/04/publix-reports-q1-2020-results "Our associates' efforts to serve our customers and communities have been nothing short of extraordinary. View Publix Super Markets' (OTCMKTS:PUSH) earnings history, next earnings date and earnings forecasts from top-rated Wall Street analysts at MarketBeat. Effective Friday, Publix’s stock price increased from … Comparable store sales for the three months ended March 28, 2020 increased 14.4%. Excluding the impact of net unrealized losses on equity securities in 2020 and net unrealized gains on equity securities in 2019, net earnings for the three months ended March 28, 2020 would have been $956.2 million, compared to $741.7 million in 2019, an increase of 28.9%.
Following is a reconciliation of net earnings to net earnings excluding the impact of the fair value adjustment for the three months ended March 28, 2020 and March 30, 2019:Net earnings for the three months ended March 28, 2020 were $667.3 million, compared to $981 million in 2019, a decrease of 32%. "Fair value adjustment, due to net unrealized loss (gain), on equity securities held at end of periodWeighted average shares outstandingThese 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.Publix's sales for the three months ended March 28, 2020 were $11.2 billion, a 16.1% increase from $9.7 billion in 2019. LAKELAND, Fla.--(BUSINESS WIRE)-- The coronavirus pandemic was declared a national emergency on March 13, 2020.