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 (NASDAQ: PRMW) is a leading provider of sustainable drinking water solutions in North America and Europe. Founded in 2004 by Billy Prim, the company was modeled after his previous success with Blue Rhino, the market leader in propane grill cylinder exchange. Primo Water offers a range of products including water dispensers, bulk purified bottled water, self-service refill water, and exchange water services. The company is recognized for its innovative and stylish water dispensers, available for both home and office use, which help reduce environmental waste.
Primo Water's operations are largely concentrated in North America, following a strategic divestment of a significant portion of its international business. The firm typically initiates customer relationships through the sale of water dispensers and generates recurring revenue via their Water Direct and Water Exchange services. Two-thirds of the total sales come from these recurring revenue streams, involving the delivery of large-format water bottles to residential and commercial customers.
In a recent development, Primo Water announced an agreement whereby Culligan International will acquire a significant portion of its international businesses in an all-cash transaction valued at up to $575 million. This transaction, expected to close by the end of 2023, will allow Primo Water to focus on its core North American business, enhance profitability, and return capital to shareholders.
Primo Water is committed to sustainability and environmental responsibility. The company partners with organizations like the International Bottled Water Association (IBWA) and Watercoolers Europe (WE) to ensure adherence to high safety, quality, and regulatory standards. Primo Water’s mission is to expand consumer access to purified, spring, and mineral water, promoting a healthier and more sustainable lifestyle while reducing plastic waste.
The company generated approximately $2.2 billion in annual revenue in 2022 and operates under a recurring revenue model in the large format water category (defined as three gallons or greater). Its products are sold through approximately 10,900 retail locations and online. Primo Water’s water solutions include Water Direct, Water Exchange, and Water Refill, with over 23,500 self-service refill drinking water stations across North America.
Primo Water is headquartered in Tampa, Florida. For more information, visit their website at www.primowatercorp.com.
Primo Water Corporation has acquired Get Fresh, a distributor of water solutions in Poland, enhancing its market presence. This acquisition adds about 20,000 customers to Primo's existing base of over 200,000 in Poland. It aims to leverage Get Fresh's distribution network while maintaining high service quality. CEO Tom Harrington emphasized that this move aligns with Primo's mission to provide sustainable water solutions. The company generates approximately $2.0 billion in annual revenue and operates under a recurring revenue model.
Primo Water Corporation (NYSE: PRMW) has appointed Jeff Johnson as SVP Global Operational Excellence and Service Optimization, effective October 25, 2021. Johnson brings 32 years of experience from UPS, where he held multiple leadership roles including President of US Industrial Engineering. His expertise is expected to enhance operational efficiency and customer service, aiming to improve margins and return on invested capital. Primo, generating approximately $2.0 billion in annual revenue, focuses on sustainable drinking water solutions across North America and Europe.
Primo Water Corporation (NYSE: PRMW) will announce its third quarter financial results for the period ended October 2, 2021, before market opening on November 4, 2021. A conference call will be held on the same day at 10:00 a.m. ET, including a Q&A session. The company operates on a recurring revenue model, generating approximately $2 billion annually, offering water solutions across North America, Europe, and Israel. Primo focuses on sustainable hydration solutions and is committed to reducing plastic waste while adhering to safety and quality standards.
Primo Water Corporation (NYSE: PRMW) has appointed Cate Gutowski as Chief Operating Officer, effective October 27, 2021. Gutowski brings extensive operational experience from Amazon Web Services, where she was the Worldwide Head of Enablement, Training, & Communications. Her previous roles include Senior Vice President at Panasonic Avionics and various leadership positions at General Electric. CEO Tom Harrington emphasized her ability to drive innovation and growth in line with the company's goal to enhance shareholder value.
Primo Water Corporation (NYSE: PRMW) announced an agreement to acquire a minority stake in Sipple Hydration Stations, enhancing its market presence in the UK. This investment supports the expansion of a network offering purified, chilled water refills, promoting sustainability by reducing plastic waste. Customers can refill their bottles or purchase reusable ones with a free refill. CEO Tom Harrington highlighted the initiative's alignment with Primo's mission to provide eco-friendly drinking water solutions. The company operates globally, generating around $2 billion in annual revenue.
Primo Water Corporation (NYSE: PRMW) will host a virtual investor day on November 17, 2021, starting at 9 a.m. ET. Led by CEO Tom Harrington and CFO Jay Wells, the event will cover the company’s strategic priorities, capital allocation, ESG initiatives, and financial outlook. A live Q&A session will follow the presentation. Registration details will be available by November 1, 2021. The webcast and materials will be accessible through Primo’s Investor Center. The company generates approximately $2.0 billion in annual revenue, focusing on sustainable drinking water solutions.
Primo Water Corporation (NYSE: PRMW) reported second-quarter results with a 15% revenue increase to $526 million compared to $457 million in the same period last year. Adjusted EBITDA rose 21% to $100 million, prompting the company to raise its full-year Adjusted EBITDA guidance by $10 million to a range of $390 million to $400 million. The board declared a quarterly dividend of $0.06 per common share, payable on September 2, 2021. The company remains confident about achieving organic revenue growth of approximately 6% this year.
Primo Water Corporation (NYSE: PRMW) has appointed Archana Singh to its Board of Directors as an independent director. Singh brings extensive HR and talent management experience, having served as Chief People Officer at Expedia Group since 2019. She will also be a member of the Human Resources and Compensation Committee. With a focus on operational excellence and leadership development, Singh's addition is expected to enhance the board's skill set. Primo Water generates approximately $2.0 billion in annual revenue and operates under a recurring revenue model, providing sustainable water solutions across North America and Europe.
Primo Water Corporation (NYSE: PRMW) has acquired the Home and Office Delivery business assets of Health Waters in Pennsylvania. This acquisition enhances route density and expands product offerings in the Northeast, benefiting approximately 6.5 million residents across Pennsylvania, New Jersey, and Delaware. Customers will enjoy existing Mountain Valley products and additional Crystal Springs offerings. CEO Tom Harrington emphasized the acquisition's role in achieving their vision of providing comprehensive water solutions.
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