Primo Brands Corp
NYSE:PRMB
Primo Brands Corp
Primo Brands Corp is a US-based company operating in Beverages industry. The company is headquartered in Tampa, Florida and currently employs 6,400 full-time employees. Primo Brands Corporation is a beverage company with a focus on healthy hydration, delivering sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in every state and Canada. The firm has a portfolio of packaged branded beverages distributed across more than 150,000 retail outlets, including brands, Poland Spring, Pure Life, Saratoga, Mountain Valley, Arrowhead, Deer Park, Ice Mountain, Ozarka, and Zephyrhills, Primo Water, Sparkletts, Splash, and AC+ION. These brands are sold directly across retail channels, including mass food, convenience, natural, drug, wholesale, distributors and home improvement, as well as food service accounts in North America. The company has Water Direct, Water Exchange and Water Refill businesses. Through its Water Direct business, it delivers sustainable hydration solutions direct to home and business consumers. The firm is also engaged in reusable packaging.
Primo Brands Corp is a US-based company operating in Beverages industry. The company is headquartered in Tampa, Florida and currently employs 6,400 full-time employees. Primo Brands Corporation is a beverage company with a focus on healthy hydration, delivering sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in every state and Canada. The firm has a portfolio of packaged branded beverages distributed across more than 150,000 retail outlets, including brands, Poland Spring, Pure Life, Saratoga, Mountain Valley, Arrowhead, Deer Park, Ice Mountain, Ozarka, and Zephyrhills, Primo Water, Sparkletts, Splash, and AC+ION. These brands are sold directly across retail channels, including mass food, convenience, natural, drug, wholesale, distributors and home improvement, as well as food service accounts in North America. The company has Water Direct, Water Exchange and Water Refill businesses. Through its Water Direct business, it delivers sustainable hydration solutions direct to home and business consumers. The firm is also engaged in reusable packaging.
Leadership Change: Primo Brands appointed Eric Foss as Chairman and CEO, with a focus on accelerating growth and operational excellence.
Revenue Decline: Q3 net sales were $1.766 billion, down 1.6% year-over-year, but showed sequential improvement and resilience despite integration challenges.
Profitability Beat: Adjusted EBITDA rose 6.8% to $404.5 million, with a margin of 22.9%, ahead of expectations and up 180 basis points YoY.
Guidance Update: Full-year net sales guidance was lowered to a low single-digit decline, reflecting a slower recovery in the direct delivery segment; adjusted EBITDA guidance set at approximately $1.45 billion.
Integration Progress: Service disruptions in direct delivery are largely resolved, with delivery service rates back to 95% and customer sentiment improving.
Premium Growth: Premium water brands Mountain Valley and Saratoga saw over 44% net sales growth, and significant investments are being made to expand their capacity and distribution.
Cash Flow Strength: Q3 adjusted free cash flow was $311.1 million, with a 51.9% trailing 12-month conversion ratio; liquidity remains robust at about $1 billion.
Shareholder Returns: $73.2 million in stock repurchases completed and quarterly dividend raised by 11% to $0.10 per share.
