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) announced that it expects to achieve its targeted financial results for Q1 2021, forecasting revenue between $455 million and $485 million and Adjusted EBITDA between $70 million and $75 million. The company operates a strong water solutions business across North America and Europe, focusing on a recurring revenue model with water dispensers and delivery services. Primo generates approximately $2.0 billion in annual revenue and is committed to sustainability and consumer health.
On April 21, 2021, Primo Water Corporation (NYSE: PRMW) announced its intention to offer $750 million in senior notes due 2029 through its subsidiary, Primo Water Holdings Inc. This private offering is aimed at qualified institutional buyers and will be used to redeem all outstanding 2025 Notes along with associated costs. The notes will be guaranteed by Primo and certain subsidiaries and are subject to market conditions. Primo operates across 21 countries, generating approximately $2.0 billion in annual revenue through its water solutions.
Primo Water Corporation (NYSE: PRMW) will announce its first-quarter financial results for the period ending April 3, 2021, before the market opens on May 6, 2021. A conference call will follow at 10:00 a.m. ET, allowing for shareholder interaction. Additionally, Primo will hold its 2021 Annual and Special Meeting of Shareowners virtually on May 4, 2021, focusing on key governance matters, including financial statements and executive compensation. The company, generating approximately $2 billion in annual revenue, is a leading provider of water solutions in North America and Europe.
Primo Water Corporation (NYSE: PRMW) announced its participation in the Raymond James Institutional Investors Conference on March 3, 2021, at 3:00 p.m. Eastern Time. The presentation will be available via webcast on the company's investor relations website and archived for two weeks post-event. As a top provider of water solutions, Primo generates approximately $2.0 billion in annual revenue, offering services across North America and Europe. The company's innovative water dispensers and delivery services promote sustainability and healthier lifestyles.
Primo Water Corporation (NYSE: PRMW) reported a 15% increase in Q4 revenue, totaling $505 million, and an 8% increase in gross profit to $282 million. Although the company faced a net loss of $20 million, adjusted net income rose to $23 million, with adjusted EBITDA growing 36% to $98 million. The company's performance was bolstered by strong demand from residential customers and the legacy Primo acquisition. Looking ahead, Primo forecasts 2021 revenue of $455-$485 million and adjusted EBITDA between $370-$380 million.
Primo Water Corporation (NYSE: PRMW) has declared a quarterly dividend of US$0.06 per share, payable on March 29, 2021, to shareholders of record by March 12, 2021. The company, a leader in water solutions across North America and Europe, generates approximately $2.0 billion in annual revenue through a recurring revenue model. Its offerings include water dispensers, delivery services, and refill stations, promoting sustainable hydration and reducing plastic waste.
Primo Water Corporation (NYSE: PRMW) announced that its subsidiary, Primo Water North America, received a Gold Seal Certification from the Water Quality Association for its PureFlo® Bright + Carbon filtration unit. This IoT-enabled product continuously monitors performance and water consumption, certified for a 5,000 gallons drinking water capacity. The Gold Seal ensures product safety and compliance with rigorous industry standards. President Dave Muscato emphasized the certification's role in demonstrating the company's commitment to quality water solutions and enhancing customer experience.
Primo Water Corporation (NYSE:PRMW) announced its fourth quarter and fiscal year 2020 financial results will be released on February 25, 2021, before market open. The company will host a conference call at 10:00 AM ET the same day, allowing stakeholders to engage during a Q&A session. Primo generates approximately $2.1 billion in annual revenue through its water delivery services and innovative dispensers, operating in 21 countries. Its model focuses on sustainable hydration solutions while promoting health and reducing plastic waste.
Primo Water Corporation (NYSE: PRMW) announced its Wekiva Spring site in Florida has achieved Alliance for Water Stewardship (AWS) certification, confirming adherence to responsible water stewardship standards. This follows the certification of its Diamond Spring site in Pennsylvania in December 2020. The AWS certification underscores Primo's commitment to sustainable water management, covering governance, water balance, quality, and hygiene. CEO Tom Harrington stated plans to certify spring sources in Georgia and Arkansas in 2021, aiming for complete certification by the end of 2022.
Primo Water Corporation (NYSE: PRMW) announced that its subsidiary, Primo Water North America, has received certification for its Diamond Spring site in Pennsylvania under the Alliance for Water Stewardship (AWS) program. This certification confirms that the site meets international standards for responsible water management, focusing on governance, water balance, quality, and hygiene. CEO Tom Harrington indicated plans to certify additional spring sources in Florida, Georgia, and Arkansas by the end of 2022, reinforcing the company's commitment to sustainable water practices.
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