Primo Brands Corporation
21.50-0.80 (-3.59%)
Oct 29, 4:00:02 PM EDT · NYSE · PRMB · USD
Key Stats
Market Cap
8.03BP/E (TTM)
-Basic EPS (TTM)
-0.09Dividend Yield
0.01%Recent Filings
8-K
COO takes planned leave
Primo Brands Corporation announced on September 9, 2025, that COO Robert Austin will take a planned leave of absence starting September 30, 2025, transitioning to a senior advisor role. CEO Robbert Rietbroek steps in as interim principal operating officer, with senior executives reporting directly to him until Austin returns. This shift maintains operational continuity amid the temporary change. No duration for the leave was disclosed.
10-Q
Q2 FY2025 results
Primo Brands posted Q2 net sales of $1.7B, up 31.6% y/y from $1.3B, fueled by the November 2024 merger with Primo Water that added $449M in revenue, though offset by nonrecurring volumes from a sold Canadian facility. Gross margin slipped to 31.3% from 32.7% amid integration costs, while operating income fell 29.1% y/y to $113M due to $50M in merger-related expenses; diluted EPS dropped to $0.07 from $0.25, reconciling to 377M weighted shares with no anti-dilution flagged. Cash from operations hit $155M, down q/q but up y/y, yielding $101M free cash flow after $54M capex; quarter-end cash stood at $412M with $612M revolver availability and $5.1B total debt (mostly term loans at 6.87%). The merger closed November 2024 via all-stock deal valued at $3.95B, recognizing $2.77B goodwill and $1.84B intangibles (15-year customer relationships life). Yet competition in bottled water squeezes pricing power.
8-K
Q2 sales surge, guidance revised
Primo Brands reported Q2 2025 net sales of $1.7 billion, up 31.6% year-over-year, fueled by the merger with Primo Water, while Adjusted EBITDA climbed 42.1% to $366.7 million amid integration efforts. Tornado damage and service disruptions prompted revised full-year guidance for net sales growth, Adjusted EBITDA, and Adjusted Free Cash Flow, yet the company reaffirmed $200 million in 2025 cost synergies and launched a $250 million share repurchase alongside a $0.10 quarterly dividend. Service issues should normalize by September.
8-K
Exec leadership consolidation announced
Primo Brands Corporation combined its General Counsel and Chief Administrative Officer roles amid ongoing integration of Triton Water Parent and Primo Water, ending Marni Poe's tenure as General Counsel effective August 6, 2025. Hih Song Kim steps in as Chief Legal Officer and Corporate Secretary on the same date, while Poe provides transition services through August 29. She receives severance per the company's plan, plus continued vesting on her December 2024 equity award for her contributions. Leadership streamlining supports merger efficiencies.
8-K
Board shrinks post-resignations
Primo Brands Corporation's board shrank to eleven directors after Kurtis Barker and Allison Spector resigned on May 21, 2025, triggered by ORCP Stockholders' reduced Class A common stock ownership under the November 2024 Stockholders Agreement. The move eliminates a vacancy for a mutually agreed director, as requested by the initial ORCP holder. No disagreements prompted the exits. Board composition shifts with ownership.
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