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) 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.
