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.
News and updates for Primo Water Corporation (NYSE: PRMW; TSX: PRMW) focus on its role as a North America-focused pure-play water solutions provider and its transition into the combined Primo Brands Corporation. Company announcements regularly cover financial results, strategic transactions, and developments in its large format water and healthy hydration business.
Investors following PRMW-related news can expect coverage of quarterly earnings releases, where Primo Water reports revenue, margins, adjusted EBITDA, and free cash flow from continuing operations. These releases often include commentary on performance across its Water Direct, Water Exchange, and Water Refill channels, as well as updates on its water dispensers and filtration offerings across North America.
Another major theme in recent news is the all-stock business combination between Primo Water and an affiliate of BlueTriton Brands, Inc. News items describe regulatory milestones, shareowner approvals, court approvals, and the closing of the transaction that created Primo Brands Corporation. They also outline the expected transition of trading from PRMW to the new NYSE ticker PRMB and provide details on dividends associated with the transaction.
In addition, company releases highlight Primo Water’s and Primo Brands’ focus on sustainable, reusable packaging, water stewardship, and partnerships with organizations such as the International Bottled Water Association in North America. For readers tracking PRMW, this news feed offers a centralized view of historical and transitional information as Primo Water becomes part of the broader Primo Brands platform.
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.
Primo Water Corporation (NYSE: PRMW) has declared a quarterly dividend of US$0.07 per share on common shares. This dividend is payable in cash on December 9, 2022, to shareholders on record at the close of business on November 29, 2022. The company, a leader in sustainable drinking water solutions, generates approximately $2.1 billion in annual revenue and operates under a recurring revenue model. Its offerings include water delivery and dispenser sales across a 21-country footprint, promoting healthier lifestyles while reducing plastic waste.
Primo Water Corporation (NYSE: PRMW) has acquired substantially all assets of Crystal Spring Water Company, enhancing its reach in the Northeast. This acquisition adds approximately 2,500 customers to Primo Water North America, consolidating its footprint in Rhode Island and Southeastern Massachusetts. Founded in 1907, Crystal Spring is known for its high-quality spring water and customer service. Primo, a leader in sustainable drinking water solutions, generates around $2.1 billion in annual revenue, promoting healthier lifestyles and reducing plastic pollution.
Primo Water Corporation (NYSE: PRMW) announced it will release its third quarter 2022 financial results on November 10, 2022, before the markets open. A conference call will follow at 10:00 a.m. Eastern Time on the same day, which will be available via a live webcast. The company generated approximately $2.1 billion in annual revenue, operating under a recurring revenue model primarily through water dispensers and delivery services across 21 countries. Primo focuses on providing sustainable drinking water solutions while adhering to strict safety and quality standards.
MarineMax, Inc. (NYSE: HZO) has appointed Mercedes Romero to its Board of Directors, effective October 1, 2022. Romero, currently the Global Chief Procurement Officer at Primo Water (Nasdaq: PRMW), brings over 25 years of experience across multiple industries, including Consumer Goods and Spirits. She has a proven track record in operational efficiencies and strategic planning, which is expected to enhance MarineMax’s growth strategy. Romero's international experience will provide new perspectives to the board during a pivotal growth phase for the company.
Primo Water Corporation (NYSE: PRMW) announced the acquisition of two French companies, Eureau Sources and Defeaus, which specialize in spring water marketing and packaging. Founded in 1996, Eureau Sources is a leader in bottling water in carafes and operates across France. Defeaus, also established in 1996, markets HERMES spring water mainly in the Île-de-France region. This acquisition aligns with Primo's strategy to enhance sustainable water solutions, expanding its footprint in Europe while maintaining product and service continuity for Eureau and Defeaus customers.
Primo Water Corporation (NYSE: PRMW) announced the retirement of Chief Financial Officer Jay Wells, effective April 1, 2023. Wells, who joined the company in March 2012, played a key role in its transformation to a pure-play water company, contributing to financial and operational improvements. The company has begun a search for his successor, considering both internal and external candidates. Primo Water operates in North America and Europe, generating approximately $2.1 billion in annual revenue through its sustainable water solutions.
Primo Water Corporation (NYSE: PRMW) reported a 9% revenue increase to $571 million for Q2 2022, boosted by improved pricing and customer growth. Despite a net loss of $23 million, adjusted net income rose to $33 million. The company raised its full-year revenue growth forecast to 12%-14% and adjusted EBITDA to $415-$425 million. The gross profit increased 12% to $332 million, with a stable adjusted EBITDA margin of 18.9%. Challenges included foreign exchange impacts and exiting the single-use bottled water retail business in North America.
Primo Water Corporation (NYSE: PRMW) has announced a new $100 million share repurchase program, effective from August 15, 2022 to August 14, 2023. This initiative aims to enhance shareholder value while maintaining regular dividends, with a declared quarterly dividend of US$0.07 per share payable on September 7, 2022. The company emphasized its strong cash flow and commitment to invest in growth opportunities, while confident in the attractiveness of its shares.
On July 21, 2022, Primo Water Corporation (NYSE: PRMW) announced its exit from the Russian market, which contributed only $14 million in revenues and less than 1% of consolidated EBITDA in 2021. The company focuses on sustainable drinking water solutions across North America and Europe, generating approximately $2.1 billion annually. Primo operates a recurring revenue model through water dispensers and offers services such as Water Direct, Water Exchange, and Water Refill, promoting healthier lifestyles while minimizing plastic waste.