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 its participation in the 2023 Raymond James 44th Annual Institutional Investors Conference, scheduled for March 6, 2023. The presentation will commence at approximately 7:30 a.m. Eastern Time and can be accessed via a webcast on Primo's investor relations website, with an archive available for two weeks post-event. As a leading provider of sustainable drinking water solutions in North America and Europe, Primo generates around $2.2 billion in annual revenue, operating primarily under a recurring revenue model through various services including Water Direct, Water Exchange, and Water Refill.
Primo Water Corporation (NYSE: PRMW) reported a 7% revenue growth in FY 2022, reaching $2.215 billion, driven by a 17% increase in Water Direct and Water Exchange revenues. Net income improved significantly to $30 million or $0.18 per diluted share, contrasting with a net loss in the prior year. Adjusted EBITDA rose 11% to $420 million, with margins increasing to 19%. The Board declared a quarterly dividend of $0.08, a 14% increase from previous dividends, payable on March 27, 2023. Primo expects FY 2023 revenue between $2.3 billion and $2.35 billion.
Primo Water Corporation (NYSE: PRMW) has increased its quarterly dividend by 14.3% to
On February 3, 2023, Primo Water Corporation (NYSE: PRMW) announced the acquisition of an additional spring water source near its existing Mountain Valley spring in Garland County, Arkansas. This strategic acquisition aims to enhance its Mountain Valley Water portfolio, which has seen a remarkable 53% growth year-over-year according to SPINS. Mountain Valley is recognized as the top premium spring/sparkling brand in the Natural Channel and is the oldest continuous bottled spring water in the U.S. The company emphasizes its commitment to sustainable water solutions and aims to expand its market presence through this new source.
Primo Water Corporation (NYSE: PRMW) will release its fourth quarter and fiscal year 2022 financial results on February 23, 2023, before market open. A conference call will follow at 10:00 a.m. Eastern Time, allowing investors to engage with the management team. The company provides sustainable drinking water solutions across North America and Europe, generating approximately $2.1 billion in annual revenue. Primo operates under a razor/razorblade model, selling innovative water dispensers and providing water delivery services directly to consumers.
Primo Water Corporation (NYSE: PRMW) has appointed David W. Hass as its new Chief Financial Officer, effective April 1, 2023. Mr. Hass, who has been with the company since 2020 as Chief Strategy Officer, succeeds Jay Wells, who will assist in the transition until his retirement. The change aims to leverage Mr. Hass's extensive experience in enhancing innovation and growth within the company's sustainable drinking water solutions across North America and Europe. Primo generates approximately $2.1 billion in annual revenue, primarily through its water dispensers and delivery services.
Primo Water Corporation (PRMW) has provided its revenue and Adjusted EBITDA outlook for 2023 and 2024 ahead of the ICR Conference on January 9, 2023. For 2023, revenue is projected between $2.3 billion and $2.35 billion; Adjusted EBITDA is expected to fall in the range of $450 million to $470 million. Looking ahead to 2024, revenue growth is anticipated to be in the high single digits, with Adjusted EBITDA approaching $530 million. The outlook excludes revenue from businesses exited in 2022, emphasizing a targeted and sustainable growth strategy.
Primo Water Corporation (NYSE: PRMW), a leader in sustainable drinking water solutions, announced its presentation at the ICR Conference on January 9, 2023. The presentation will start at 10:30 a.m. Eastern Time and will be available via webcast on Primo's investor relations website. With approximately $2.1 billion in annual revenue, Primo operates under a recurring revenue model, offering products such as water dispensers, direct delivery, and refill services across 21 countries.
Primo focuses on promoting healthier lifestyles and reducing plastic waste.
Primo Water Corporation (NYSE: PRMW) reported a 6% revenue increase in Q3 2022, reaching $585 million, driven by growth in Water Direct/Water Exchange (17%), Water Refill/Water Filtration (11%), and Water Dispensers (47%). Net income fell to $1.3 million ($0.01/share), down from $18 million ($0.11/share) year-over-year. Adjusted EBITDA rose 10% to $117 million, with an EBITDA margin of 20%. The company raised its full-year revenue guidance to $2.222-$2.242 billion and maintained its 2024 outlook for high single-digit organic growth.
FAQ
What is the current stock price of Primo Water Corporation (PRMW)?
What is the market cap of Primo Water Corporation (PRMW)?
What does Primo Water Corporation do?
What are Primo Water's primary products?
Where is Primo Water Corporation headquartered?
How does Primo Water generate revenue?
What recent business changes has Primo Water made?
What is the environmental impact of Primo Water's services?
What is Primo Water's market share in water dispensers?
How many retail locations sell Primo Water products?
Who founded Primo Water Corporation?
What partnerships does Primo Water have?
