Welcome to our dedicated page for Primo Water Corporation news (Ticker: PRMW), a resource for investors and traders seeking the latest updates and insights on Primo Water Corporation stock.
Primo Water Corporation (PRMW) delivers sustainable hydration solutions through its innovative water dispensers and recurring revenue model. This news hub provides investors and stakeholders with official updates on financial performance, strategic initiatives, and environmental stewardship efforts central to its North American operations.
Discover timely press releases covering earnings reports, product innovations, and sustainability milestones. Our curated collection includes updates on Water Direct delivery services, Water Exchange partnerships, and Water Refill network expansions – all core components of PRMW's market-leading position in water solutions.
This resource serves as a centralized reference for tracking the company's progress in reducing plastic waste through bottle exchange programs and analyzing its razor-razorblade business model performance. Bookmark this page for direct access to PRMW's latest regulatory filings, executive commentary, and operational developments.
Primo Brands (NYSE: PRMB) has scheduled its fourth quarter 2024 earnings release and conference call. The company will release financial results for the quarter ended December 31, 2024, before markets open on Thursday, February 20, 2025.
A conference call and simultaneous webcast will be held at 10:00 a.m. Eastern Time on the same day, featuring a management presentation followed by a question-and-answer session. The event will be accessible via North America dial-in (888-510-2154), International dial-in (437-900-0527), and through a live webcast on the company's investor relations website. The webcast will be recorded and archived for later playback.
Primo Brands has announced the successful completion of the merger between Primo Water and BlueTriton Brands, creating a leading branded beverage company in North America focused on healthy hydration. The company will trade on the NYSE under the symbol PRMB starting November 11, 2024. The combined entity features billion-dollar brands including Poland Spring® and Pure Life®, along with premium brands like Saratoga® and Mountain Valley®. Robbert Rietbroek will serve as CEO, with dual headquarters in Tampa, FL and Stamford, CT. The company has declared a quarterly dividend of $0.09 per share, payable on December 5, 2024.
Primo Water reported strong Q3 2024 results with revenue increasing 8.8% to $511 million, driven by 7.4% organic growth. Gross margin improved 20 bps to 64.7%, while net income rose to $38 million. Adjusted EBITDA grew 11.4% to $125 million with a margin of 24.4%. The company expects to close its transaction with BlueTriton Brands on November 8, 2024, after which it will begin trading as Primo Brands (NYSE:PRMB) on November 11th. Growth was notable across channels, with Water Direct/Exchange up 8.0%, Water Refill/Filtration up 7.1%, and Other Water showing significant growth of 102.2%.
Primo Water (NYSE: PRMW) announced that shareowners overwhelmingly approved the merger with BlueTriton Brands, with 99.9% of votes in favor, representing 89.2% of total outstanding shares. The transaction is expected to close on November 8, 2024. The combined entity will be renamed Primo Brands and will trade on NYSE under the ticker 'PRMB' starting November 11. At closing, Primo Water common shares will be exchanged for Class A common stock of Primo Brands at a 1:1 ratio. The merger aims to create a leading North American branded beverage company focused on healthy hydration.
Primo Water (NYSE: PRMW) (TSX: PRMW) has announced the date for its third quarter 2024 earnings release and details for a Special Meeting of Shareowners. The earnings release is scheduled for November 7, 2024, before markets open, followed by a conference call at 10:00 a.m. Eastern Time. The Special Meeting, set for November 4, 2024 at 8:00 a.m. Eastern Time, will be held virtually for shareowners to vote on the proposed all-stock business combination with BlueTriton Brands, Inc. Shareowners will also be asked to provide a non-binding advisory vote on compensation for certain executive officers related to the transaction. The virtual meeting can be accessed at www.virtualshareholdermeeting.com/PRMW2024SM using the control number on the proxy card or voting instruction form.
Primo Water (NYSE: PRMW) (TSX: PRMW) has announced a special dividend of US$0.82 per share on its common shares. This dividend is payable in cash on November 21, 2024 to shareowners of record at the close of business on November 5, 2024. The special dividend is being declared in connection with the previously announced all-stock combination of Primo Water and BlueTriton Brands, Inc. Shareholders can find additional information about this transaction on the investor relations section of Primo Water's website.
Primo Water (NYSE: PRMW) (TSX: PRMW) and BlueTriton Brands have received all regulatory approvals for their previously announced all-stock combination. This includes approval under the Investment Canada Act and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to close by the end of 2024, subject to Primo Water's shareowner approval and court approval of the plan of arrangement.
Robbert Rietbroek, Primo Water's CEO, expressed confidence that shareowners will recognize the significant value this combination will create, stating that both companies enter the transaction from a position of strength. He believes it will deliver meaningful benefits for customers, associates, shareowners, and stakeholders. Additional information about the transaction is available on Primo Water's investor relations website.
Primo Water (NYSE: PRMW) has released its 2023 Sustainability report, showcasing significant progress in its ESG initiatives. Key highlights include:
- Conducted over 240,000 quality control analyses
- Saved 6 million+ gallons of water at Los Angeles plant
- Delivered 130,000+ training hours for associates
- Achieved a 47% reduction in plant injuries
- Increased supplier diversity spend by 140%
- Reduced CO2e by 25% from baseline year
- Expanded low-carbon fleet to 14% of North American beverage route trucks
- Reduced 2.4 million miles driven since 2021
- Donated over $1,000,000 to community initiatives
The report aligns with GRI, SASB, and UN SDGs standards, covering Primo Water's North American operations for fiscal year 2023.
Primo Water (NYSE: PRMW) (TSX: PRMW) and BlueTriton Brands have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) for their previously announced all-stock combination. This expiration is a important step towards completing the transaction, which is now expected to close by the end of 2024. The deal still requires approval from Primo Water's shareowners, regulatory approval in Canada, and court approval of the plan of arrangement. This development marks significant progress in the merger process between the two water companies, potentially creating a stronger entity in the water industry.
Primo Water (NYSE: PRMW) reported strong Q2 2024 results, exceeding expectations. Revenue increased 7.6% to $485 million, with organic growth contributing 6.6%. Gross margin improved by 110 bps to 65.6%, and Adjusted EBITDA rose 14.9% to $113 million. The company raised its full-year 2024 outlook, projecting revenue between $1.87-$1.89 billion and Adjusted EBITDA of $420-$440 million. Adjusted Free Cash Flow forecast increased to $180-$190 million. CEO Robbert Rietbroek highlighted the success of their customer-centric strategy and operational excellence. The company announced a quarterly dividend of $0.09 per share and has paused its share repurchase program due to the proposed merger with BlueTriton Brands.
