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) has published its inaugural Environmental, Social and Governance (ESG) report, detailing its commitment to sustainability and carbon neutrality. Key initiatives include investments in cleaner transportation and exiting the retail single-use plastics business in North America. The company aims for continuous improvement in ESG reporting, which will include third-party verified GHG emissions and life cycle assessments. Primo generates approximately $2.1 billion in annual revenue and operates with a recurring revenue model through its innovative water solutions across 21 countries.
Primo Water Corporation (NYSE: PRMW) has announced its second quarter financial results will be released on August 11, 2022, before market opening. The company, a leader in sustainable drinking water solutions, will also host a conference call at 10:00 a.m. ET on the same day to discuss the results, including a Q&A session. With an annual revenue of approximately $2.1 billion, Primo operates a recurring revenue model through water dispensers and delivery services across 21 countries. The firm emphasizes sustainability and consumer access to purified water.
Primo Water Corporation (NYSE: PRMW) has announced its participation in the 2022 Jefferies Consumer Conference from June 20-22, 2022. CEO Tom Harrington will present a fireside chat on June 20 at 8:00 a.m. Eastern Time, which will be webcast and available for replay on the company's investor relations website for 30 days. The company, a leader in sustainable drinking water solutions across North America and Europe, generates approximately $2.1 billion in annual revenue through its innovative water dispensers and various water delivery services.
On May 19, 2022, Primo Water Corporation (NYSE: PRMW) announced its upcoming presentation at the 2022 RBC Capital Markets Global Consumer & Retail Conference scheduled for June 2, 2022, at 8:40 a.m. Eastern Time. This webcast will be available through the investor relations section of their website and will be archived for two weeks. Primo operates under a recurring revenue model, generating approximately $2.1 billion annually by offering innovative water dispensers and sustainable hydration solutions across North America and Europe, promoting healthier lifestyles while reducing plastic waste.
Primo Water Corporation (PRMW) reported a 10% revenue increase to $526 million for Q1 2022, fueled by strong customer demand and pricing actions. Adjusted EBITDA rose 15% to $88 million, with a margin of 16.7%. The company expects 9%-10% revenue growth and $410-$420 million in Adjusted EBITDA for the full year. Net loss improved to $7 million from $10 million year-over-year. Additionally, Primo plans to exit its small Russia operations, impacting $14 million in 2021 revenue. The company maintains a positive long-term outlook with projected Adjusted EBITDA nearing $525 million for 2024.
On May 10, 2022, Primo Water Corporation held its annual meeting, where all director nominees were successfully elected. Notable voting results include Britta Bomhard receiving 99.18% of votes and Susan E. Cates receiving 99.82%. Eric Rosenfeld had the lowest support with 72.45%. The election reflects strong shareholder confidence in the current board. Primo Water operates with a revenue of approximately $2.1 billion and offers sustainable water solutions across 22 countries, contributing to reduced plastic waste and promoting healthier lifestyles.
Primo Water Corporation (NYSE: PRMW) declared a quarterly dividend of US$0.07 per share, payable on June 22, 2022, to shareholders of record as of June 10, 2022. As a leading provider of sustainable drinking water solutions in North America and Europe, Primo generates approximately $2.1 billion in annual revenue, utilizing a recurring razor/razorblade revenue model. Their offerings include Water Direct delivery, Water Exchange, and Water Refill services, promoting access to purified water while reducing plastic waste.
Primo Water Corporation (NYSE: PRMW) announced the release of its first quarter financial results for the period ending April 2, 2022, scheduled for May 12, 2022. A conference call will follow on the same day at 10:00 a.m. ET, accessible via phone or a webcast on the company’s website. Additionally, the company will hold its 2022 Annual Meeting of Shareowners virtually on May 10, 2022, at 8:00 a.m. ET, where shareholders will vote on financial statements and directors. Primo is a leading provider of water solutions, generating approximately $2.1 billion in annual revenue.
Primo Water Corporation (NYSE: PRMW) will present at the 2022 Raymond James 43rd Annual Institutional Investors Conference on March 7, 2022, at approximately 4:00 p.m. Eastern Time. The event will be webcast via the investor relations section of their website and archived for two weeks. As a leader in sustainable drinking water solutions in North America and Europe, Primo generates approximately $2.1 billion in annual revenue. Their innovative water dispensers and services promote sustainable hydration and reduce plastic waste.
Primo Water Corporation (PRMW) reported a 6% increase in revenue for 2021, totaling $2.073 billion, driven by organic customer growth and pricing actions. The company declared a $0.07 dividend per common share, payable on March 28, 2022. Adjusted EBITDA rose 5% to $380 million, with an adjusted net income of $90.9 million. For 2022, Primo forecasts revenue growth of 9% to 10% and an adjusted EBITDA between $410 million and $420 million. Despite a net loss of $3.2 million, the company remains confident in its long-term growth strategy.
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?
