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    Primo Brands Corp (PRMB)

    Updated May 8, 2025, 7:22 PM UTC
    Income Statement - MetricQ3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Net sales (USD, millions)-----1,397.205,152.51,613.7
    Cost of sales (USD, millions)-----967.103,530.91,092.7
    Gross profit (USD, millions)-----430.101,621.6521.0
    Selling, general and administrative expenses (USD, millions)-----335.901,050.6327.8
    Acquisition, integration and restructuring expenses (USD, millions)-----175.10204.139.8
    Other operating expense (income), net (USD, millions)-----0.106.60.2
    Operating income (USD, millions)-----(81.00)360.3153.2
    Gain on extinguishment of debt (USD, millions)------18.6
    Interest and financing expense, net (USD, millions)-----87.80339.682.1
    Provision for (benefit from) income taxes (USD, millions)-----(14.90)33.317.7
    Net (loss) income from continuing operations (USD, millions)------(12.6)34.7
    Net (loss) income (USD, millions)-----(157.70)(16.4)28.7
    Net loss from discontinued operations, net of tax (USD, millions)------(3.8)(6.0)
    Net (loss) income per common share - Basic (USD)------(0.07)0.08
    Net (loss) income per common share - Diluted (USD)------(0.07)0.08
    Weighted-average common shares outstanding - Basic (thousands)------242,315379,251
    Weighted-average common shares outstanding - Diluted (thousands)------242,315381,613
    Balance Sheet - MetricQ3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Cash, cash equivalents and restricted cash (USD, millions)----176.7614.4614.4449.7
    Trade receivables, net of allowance for expected credit losses (USD, millions)----452.6444.0444.0504.6
    Inventories (USD, millions)----199.3208.4208.4252.2
    Prepaid expenses and other current assets (USD, millions)----57.1150.4150.4120.9
    Current assets held for sale (USD, millions)-----111.8111.865.2
    Total current assets (USD, millions)----885.71,529.01,529.01,392.6
    Property, plant and equipment, net (USD, millions)----1,524.42,083.92,083.92,045.3
    Operating lease right-of-use-assets, net (USD, millions)----498.8628.7628.7622.6
    Goodwill (USD, millions)----816.63,572.23,572.23,572.2
    Intangible assets, net (USD, millions)----1,402.73,191.73,191.73,161.5
    Other non-current assets (USD, millions)----53.670.170.174.7
    Non-current assets held for sale (USD, millions)-----118.9118.9113.1
    Total assets (USD, millions)----5,181.811,194.511,194.510,982.0
    Current portion of long-term debt (USD, millions)----45.364.564.567.9
    Trade payables (USD, millions)----354.3471.6471.6485.6
    Accruals and other current liabilities (USD, millions)----379.0697.7697.7578.3
    Current portion of operating lease obligations (USD, millions)----68.395.595.594.2
    Current liabilities held for sale (USD, millions)-----82.282.279.9
    Total current liabilities (USD, millions)----846.91,411.51,411.51,305.9
    Long-term debt, less current portion (USD, millions)----3,750.14,963.64,963.64,976.7
    Operating lease obligations, less current portion (USD, millions)----449.4555.6555.6549.3
    Deferred income taxes (USD, millions)----353.1738.7738.7736.5
    Other non-current liabilities (USD, millions)----23.849.849.851.0
    Non-current liabilities held for sale (USD, millions)-----31.131.129.5
    Total liabilities (USD, millions)----5,423.37,750.37,750.37,648.9
    Common stock (USD, millions)-----3.83.83.8
    Additional paid-in capital (USD, millions)----1,025.44,971.34,971.34,979.4
    Accumulated deficit (USD, millions)----(1,255.7)(1,513.7)(1,513.7)(1,637.4)
    Accumulated other comprehensive loss (USD, millions)----(11.2)(17.2)(17.2)(12.7)
    Total stockholders' equity (USD, millions)----(241.5)3,444.23,444.23,333.1
    Total liabilities and stockholders' equity (USD, millions)----5,181.811,194.511,194.510,982.0
    Cash Flow - MetricQ3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Net cash provided by operating activities of continuing operations (USD, millions)------463.838.8
    Net cash provided by (used in) investing activities of continuing operations (USD, millions)------468.6(23.2)
    Net cash used in financing activities of continuing operations (USD, millions)------(362.9)(180.8)
    Net cash provided by operating activities from discontinued operations (USD, millions)------3.42.9
    Net cash provided by investing activities from discontinued operations (USD, millions)------5.8(8.0)
    Net cash used in financing activities from discontinued operations (USD, millions)------(3.5)2.4
    Effect of exchange rates on cash (USD, millions)-----(1.20)(1.5)0.5
    Net increase (decrease) in cash, cash equivalents and restricted cash (USD, millions)-----444.00573.7(167.4)
    Net (loss) income (USD, millions)-----(157.70)(16.4)28.7
    Net (loss) income from continuing operations (USD, millions)------(12.6)34.7
    Depreciation and amortization (USD, millions)-----106.00333.3128.6
    Amortization of debt discount and issuance costs (USD, millions)-----5.9018.46.1
    Stock-based compensation costs (USD, millions)------8.712.0
    Restructuring charges (USD, millions)------22.00.5
    Inventory obsolescence expense (USD, millions)-----3.6016.91.2
    Charge for expected credit losses (USD, millions)-----6.0012.67.1
    Deferred income taxes (USD, millions)-----(34.50)(78.1)(2.6)
    Other non-cash items (USD, millions)-----(4.50)3.01.5
    Purchases of property, plant and equipment (USD, millions)-----(53.30)(150.2)(62.0)
    Purchases of intangible assets (USD, millions)-----(4.30)(40.7)(7.5)
    Proceeds from settlement of split-dollar life insurance contracts (USD, millions)-----0.002.4-
    Proceeds from 2024 Incremental Term Loan, net of discount (USD, millions)-----0.00392.0-
    2024 Incremental Term Loan debt issuance costs (USD, millions)-----0.00(5.1)-
    Proceeds from borrowings from Revolver (USD, millions)-----0.0025.0-
    Repayment of Term Loans and Senior Notes (USD, millions)------(32.0)(7.7)
    Proceeds from borrowings of other debt (USD, millions)-----0.908.3-
    Principal repayment of other debt (USD, millions)------(3.5)(1.3)
    Principal payment of finance leases (USD, millions)-----(3.60)(8.2)(7.2)
    Issuance of common shares (USD, millions)------1.91.2
    Common shares repurchased and cancelled (USD, millions)------(10.4)(119.2)
    Dividends paid to common stockholders (USD, millions)-----347.00(35.7)(38.6)
    Dividends paid to Sponsor Stockholder (USD, millions)------(448.6)-
    Other financing (USD, millions)------(0.1)(0.5)
    Cash and cash equivalents and restricted cash, beginning of period (USD, millions)----47.047.047.0620.7
    Cash and cash equivalents and restricted cash, end of period (USD, millions)----176.7620.7620.7453.3
    Cash and cash equivalents and restricted cash of discontinued operations, end of period (USD, millions)-----6.36.33.6
    Cash and cash equivalents and restricted cash of continuing operations, end of period (USD, millions)-----614.4614.4449.7
    Revenue by Segment - in Millions of USDQ3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Retail----987.7---
    ReadyRefresh----317.4---
    - Water Direct/Exchange----384.8---
    - Water Refill/Filtration----66.4---
    - Other Water----27.5--$34.8
    - Water Dispensers----18.7---
    - Other----14.0--$196.5
    Regional Spring Water-------$794.1
    Purified Water-------$514.4
    Premium Water-------$73.9
    Total Revenue----1,305.1--$1,613.7
    Revenue by Geography - in Millions of USDQ3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    United States----493.2-5,017.7-
    - Canada----18.2-134.8-
    - All Other Countries----0.0---
    North America----511.2---
    - Other Regions----0.2---
    Total Revenue----511.4-5,152.5-
    KPIs - Metric (Unit, Scale)Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Organic volume growth (percentage)------3.6-
    Change in volumes (percentage)--------