Publix net earnings for its third quarter slipped as headwinds from changing Medicare drug pricing and the effect of the economy on consumer spending hurt results.
Net earnings were $1.1 billion, or 33 cents per share, versus $1.2 billion, or 37 cents per share, in the period a year earlier, the company stated. With the impact of net unrealized gains on equity securities in 2026 and 2025 excluded, net earnings for the three months would have been $908 million compared to $980 million, and earnings per share would have been 29 cents per share compared to 30 cents per share in the 2025 third quarter.
Publix’s sales were $15.5 billion, up 1% from the 2025 period, but comparable sales decreased 0.6%. Publix reported sales had been pressured by the change in the Medicare maximum fair price imposed on January 1. The change reduced prices for 10 medications, which decreased their sales contribution. Economic conditions that have crimped consumer spending also affected sales negatively, the company noted.
Effective November 1, Publix’s stock price decreased from $19.60 per share to $18.70 per share. Publix stock is not publicly traded and available for sale only to current company employees and its board of directors members.
