Publix’s stock-split losses overshadow core performance - Jacksonville Business Journal

  • 📰 JaxBizJournal
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Stock-split losses overshadow Publix's core performance

Unrealized losses on equity securities more than halved Publix Super Markets' earnings last quarter.

The Lakeland-based grocery chain reported a 54% decrease in net earnings from $857 million last year to $394.1 million after ordering a 5-for-1 stock split in April. After the split, Publix shares, which are not publicly traded and only available to current employees and board directors, decreased in value from $68.80 to $13.76 per share, according to the company. Publix shares increased to $14.91 in the month after the split but are now down to $13.19.Excluding the impact of the split, Publix’s net earnings over the last nine months would have increased by 4.7% or $200 million over the same period last year.

Shareholders received five shares for every share owned as a result of the split in April in a bid to spur buying and increase the company’s overall liquidity. The last time Publix’s board of directors approved a stock split was in 2006 and, before that, in 1992.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 599. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jacksonville scores high in national real estate rankings - Jacksonville Business JournalJacksonville, along with 33 cities, received a rating of strong for investor demand.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

ERC and other tax credits every small business should know about - Jacksonville Business JournalExperts say the pandemic and the resulting small-business relief programs ushered in a wave of new interest in federal tax credits. Here are five tax credits business owners should be aware of and how they can cash in.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

First Coast housing permit numbers rise in October - Jacksonville Business JournalThe number of housing permits issued on the First Coast was positive in October.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Project Cashew's request for $3.6 million in incentives moves ahead - Jacksonville Business JournalIncentives one step closer for Jacksonville food manufacturer
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Crane Watch: Industrial building, apartments lead this week's permits - Jacksonville Business JournalApproximately $133 million million of work was approved across 800 permits for the week starting Oct. 31.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

DLP Capital of St. Augustine to build 280 apartment units in Winter Haven - Jacksonville Business JournalSt. Augustine-based DLP Capital expects the project to be completed by late 2024.
Source: JaxBizJournal - 🏆 599. / 51 Read more »