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 (NYSE: PRMW) announces its participation at the 2021 Canaccord Genuity Growth Conference on August 11, 2021, at 11:00 a.m. ET. The virtual presentation will be available via livestream on Primo's investor relations website and archived for later viewing. As a leading provider of water services in North America and Europe, Primo generates approximately $2.0 billion in annual revenue. The company focuses on sustainable hydration solutions, operating under a recurring revenue model with a wide range of water delivery and filtration services.
Primo Water Corporation (NYSE: PRMW) has acquired substantially all assets of The Sweetwater Company, operating as Earth2O, a bottled water company based in Oregon. This acquisition adds approximately 9,000 customers in the Pacific Northwest, enhancing Primo's market reach. Customers will continue to receive Earth2O products and gain access to Primo's Sierra Springs® brand and additional premium water options. The deal aligns with Primo's commitment to sustainability and customer service, marking a strategic expansion in the pure-play water solutions market.
Primo Water Corporation (NYSE: PRMW) announced it will release its second quarter financial results on August 5, 2021, before market opening. The company will host a conference call at 10:00 a.m. ET that day for investors to discuss results and answer questions. Primo is a key player in providing water solutions in North America and Europe, generating around $2.0 billion in annual revenue through various water delivery and filtration services.
Primo Water Corporation (NYSE: PRMW) reaffirmed its financial expectations for Q2 2021 during the Jefferies Virtual Consumer Conference. The company projects revenues between $490 million and $510 million and Adjusted EBITDA of $90 million to $95 million. They anticipate approximately 5% revenue growth for the full year, alongside an Adjusted EBITDA guidance of $380 million to $390 million. The firm operates a recurring revenue model, focused on sustainable water solutions across North America and Europe.
Primo Water Corporation (NYSE: PRMW) announced it will present at the Jefferies Virtual Consumer Conference on June 22, 2021, starting at 8:35 a.m. Eastern Time. The presentation will be available for streaming on their investor relations website and archived for two weeks.
Primo, headquartered in Tampa, Florida, is a leading provider of water solutions in North America, Europe, and Israel, generating approximately $2.0 billion in annual revenue through multiple water services.
Primo Water Corporation (NYSE: PRMW) announced its participation in the 2021 RBC Capital Markets Global Consumer and Retail Conference on June 3, 2021, starting at 10:40 a.m. Eastern Time. The event will be available for webcast on primowatercorp.com, with a two-week replay period.
As a leading provider of water solutions in North America and Europe, Primo generates approximately $2.0 billion in annual revenue, focusing on sustainable hydration and reducing plastic waste.
Primo Water Corporation (NYSE: PRMW) reported first quarter 2021 results with revenue of $478 million, a 1% increase from $474 million in Q1 2020. The company reduced its net loss to $10 million ($0.06 per share) from $27 million ($0.19 per share) year-over-year. Adjusted EBITDA rose 8% to $76 million, improving the margin to 15.9%. Primo has raised its full-year Adjusted EBITDA guidance by $10 million to between $380 million and $390 million, supported by strong demand from residential customers despite challenges in the commercial segment.
Primo Water Corporation (NYSE: PRMW) announced a new $50 million share repurchase program, effective from May 10, 2021 to May 9, 2022, and declared a quarterly dividend of US$0.06 per share, payable on June 16, 2021. The CEO highlighted the company's strong liquidity and commitment to returning capital to shareholders. Voting results from the May 4, 2021, annual meeting confirmed the appointment of all director nominees, reflecting shareholder confidence. This strategic move aims to enhance shareholder value amidst ongoing growth opportunities in the water services sector.
Primo Water Corporation (NYSE: PRMW) has filed a supplement to its proxy statement ahead of its annual and special shareowners' meeting scheduled for May 4, 2021. Key amendments involve the Continuance Proposal, transitioning from the Canada Business Corporations Act to the Business Corporations Act (Ontario). Changes include the removal of the maximum 60-day notice period for annual meetings and modifications to the notice time frame after meeting adjournments. The quorum requirements remain unchanged, adhering to best corporate governance standards. The Proxy Statement remains largely the same from the March 25, 2021 filing.
Primo Water Corporation (NYSE: PRMW) announced a private placement offering of $750 million in senior notes, maturing on April 30, 2029, with a 4.375% interest rate payable semi-annually. The net proceeds will be used to redeem its outstanding 2025 Notes, along with related premiums and fees. The offering is exempt from registration under the Securities Act and available to qualified institutional buyers and non-U.S. persons. Primo Water provides innovative water solutions across North America, Europe, and Israel, generating around $2 billion in annual revenue.
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