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 Water Corporation (NYSE: PRMW) released its 2021 ESG Supplement, highlighting key achievements including:
- Carbon Neutral Certification in 2021.
- All diversity, equity, and inclusion (DEI) targets met.
- Transition to 100% certified renewable energy in European operations.
- Exit from single-use bottled water business, reducing CO2 emissions by 50,000 metric tons.
- Contributions of over $168,000 to disaster-stricken communities.
- 20% reduction in global GHG emissions compared to 2020.
The company aims for continuous improvement in ESG practices, with future commitments that include third-party verified greenhouse gas emissions. CEO Tom Harrington emphasized the cultural commitment to ESG at Primo Water, which generates approximately $2.2 billion annually and operates in North America and Europe.
Legion Partners has successfully pressured Primo Water Corporation (PRMW) to accept its director nominations following a lawsuit filed against the company. Initially, Primo's Board rejected nominations from Legion Partners, leading to legal action. After significant legal expenses, Primo agreed to allow four of Legion's nominees, including Henrik Jelert and Lori Tauber Marcus, to stand for election at the rescheduled Annual Meeting on May 31, 2023.
Legion criticized Primo's previous tactics as harmful to shareholders, causing delays and unnecessary costs. They contended that the board's actions breached fiduciary duties and dissipated shareholder capital. Legion stressed the importance of electing their nominees to institute necessary changes within the company’s governance.
Primo Water Corporation (NYSE: PRMW) announced that all four nominees from Legion Partners Holdings will stand for election at its rescheduled Annual and Special Meeting on May 31, 2023. This decision follows a settlement agreement that resolved litigation with Legion, allowing the company to avoid ongoing litigation costs. Shareowners of record as of April 27, 2023 can vote, and previous proxy votes will be discarded, requiring new submissions using a BLUE proxy card. Primo Water specializes in sustainable drinking water solutions across North America and Europe, generating approximately $2.2 billion in annual revenue.
Legion Partners Asset Management has released a supplemental presentation detailing concerns regarding Primo Water Corporation (PRMW). They claim the company is employing smear tactics to distract from its poor performance, highlighting low customer growth and a subpar return on invested capital.
Legion, owning approximately 1.5% of outstanding shares, encourages shareholders to vote on the WHITE universal proxy card for their director nominees and against four long-tenured directors. The presentation emphasizes that, contrary to Primo's claims, its financials and strategic direction are not performing well.
Primo Water Corporation (NYSE: PRMW) has urged shareowners to vote for its ten exceptional directors on the upcoming May 3, 2023 annual meeting. The company, which is focused on sustainable drinking water solutions, highlighted its transformation into a high-performing water business. Key points from the presentation include:
- Significant double-digit revenue growth in 2022.
- Adjusted EBITDA margin improved from 13% to 19% over five years.
- Strategic acquisitions boosting profitability and operational efficiencies.
- A revamped Board with diverse skillsets and experiences.
- Concerns regarding a proxy contest initiated by Legion, which the Board believes could hinder ongoing progress.
Shareowners are encouraged to utilize the BLUE proxy card to support the Board's recommendations.
Primo Water Corporation (NYSE: PRMW) will release its first quarter financial results for the period ending April 1, 2023, before markets open on May 4, 2023. The company will host a conference call at 10:00 a.m. Eastern Time the same day, which will include a Q&A session. Primo operates primarily on a recurring revenue model, generating approximately $2.2 billion in annual revenue through its innovative water dispenser offerings and services including Water Direct, Water Exchange, and Water Refill. The company focuses on sustainable hydration solutions across 21 countries, aiming to enhance consumer access to purified and mineral water while reducing plastic waste.
