Updated May 8, 2025, 7:22 PM UTC
Income Statement - Metric | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
---|---|---|---|---|---|---|---|---|---|
Net sales (USD, millions) | - | - | - | - | - | 1,397.20 | 5,152.5 | 1,613.7 | |
Cost of sales (USD, millions) | - | - | - | - | - | 967.10 | 3,530.9 | 1,092.7 | |
Gross profit (USD, millions) | - | - | - | - | - | 430.10 | 1,621.6 | 521.0 | |
Selling, general and administrative expenses (USD, millions) | - | - | - | - | - | 335.90 | 1,050.6 | 327.8 | |
Acquisition, integration and restructuring expenses (USD, millions) | - | - | - | - | - | 175.10 | 204.1 | 39.8 | |
Other operating expense (income), net (USD, millions) | - | - | - | - | - | 0.10 | 6.6 | 0.2 | |
Operating income (USD, millions) | - | - | - | - | - | (81.00) | 360.3 | 153.2 | |
Gain on extinguishment of debt (USD, millions) | - | - | - | - | - | - | — | 18.6 | |
Interest and financing expense, net (USD, millions) | - | - | - | - | - | 87.80 | 339.6 | 82.1 | |
Provision for (benefit from) income taxes (USD, millions) | - | - | - | - | - | (14.90) | 33.3 | 17.7 | |
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) | - | - | - | - | - | - | 242,315 | 379,251 | |
Weighted-average common shares outstanding - Diluted (thousands) | - | - | - | - | - | - | 242,315 | 381,613 | |
Balance Sheet - Metric | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
Cash, cash equivalents and restricted cash (USD, millions) | - | - | - | - | 176.7 | 614.4 | 614.4 | 449.7 | |
Trade receivables, net of allowance for expected credit losses (USD, millions) | - | - | - | - | 452.6 | 444.0 | 444.0 | 504.6 | |
Inventories (USD, millions) | - | - | - | - | 199.3 | 208.4 | 208.4 | 252.2 | |
Prepaid expenses and other current assets (USD, millions) | - | - | - | - | 57.1 | 150.4 | 150.4 | 120.9 | |
Current assets held for sale (USD, millions) | - | - | - | - | - | 111.8 | 111.8 | 65.2 | |
Total current assets (USD, millions) | - | - | - | - | 885.7 | 1,529.0 | 1,529.0 | 1,392.6 | |
Property, plant and equipment, net (USD, millions) | - | - | - | - | 1,524.4 | 2,083.9 | 2,083.9 | 2,045.3 | |
Operating lease right-of-use-assets, net (USD, millions) | - | - | - | - | 498.8 | 628.7 | 628.7 | 622.6 | |
Goodwill (USD, millions) | - | - | - | - | 816.6 | 3,572.2 | 3,572.2 | 3,572.2 | |
Intangible assets, net (USD, millions) | - | - | - | - | 1,402.7 | 3,191.7 | 3,191.7 | 3,161.5 | |
Other non-current assets (USD, millions) | - | - | - | - | 53.6 | 70.1 | 70.1 | 74.7 | |
Non-current assets held for sale (USD, millions) | - | - | - | - | - | 118.9 | 118.9 | 113.1 | |
Total assets (USD, millions) | - | - | - | - | 5,181.8 | 11,194.5 | 11,194.5 | 10,982.0 | |
Current portion of long-term debt (USD, millions) | - | - | - | - | 45.3 | 64.5 | 64.5 | 67.9 | |
Trade payables (USD, millions) | - | - | - | - | 354.3 | 471.6 | 471.6 | 485.6 | |
Accruals and other current liabilities (USD, millions) | - | - | - | - | 379.0 | 697.7 | 697.7 | 578.3 | |
Current portion of operating lease obligations (USD, millions) | - | - | - | - | 68.3 | 95.5 | 95.5 | 94.2 | |
Current liabilities held for sale (USD, millions) | - | - | - | - | - | 82.2 | 82.2 | 79.9 | |
Total current liabilities (USD, millions) | - | - | - | - | 846.9 | 1,411.5 | 1,411.5 | 1,305.9 | |
Long-term debt, less current portion (USD, millions) | - | - | - | - | 3,750.1 | 4,963.6 | 4,963.6 | 4,976.7 | |
Operating lease obligations, less current portion (USD, millions) | - | - | - | - | 449.4 | 555.6 | 555.6 | 549.3 | |
Deferred income taxes (USD, millions) | - | - | - | - | 353.1 | 738.7 | 738.7 | 736.5 | |
Other non-current liabilities (USD, millions) | - | - | - | - | 23.8 | 49.8 | 49.8 | 51.0 | |
Non-current liabilities held for sale (USD, millions) | - | - | - | - | - | 31.1 | 31.1 | 29.5 | |
Total liabilities (USD, millions) | - | - | - | - | 5,423.3 | 7,750.3 | 7,750.3 | 7,648.9 | |
Common stock (USD, millions) | - | - | - | - | - | 3.8 | 3.8 | 3.8 | |
Additional paid-in capital (USD, millions) | - | - | - | - | 1,025.4 | 4,971.3 | 4,971.3 | 4,979.4 | |
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) | 3,444.2 | 3,444.2 | 3,333.1 | |
Total liabilities and stockholders' equity (USD, millions) | - | - | - | - | 5,181.8 | 11,194.5 | 11,194.5 | 10,982.0 | |
Cash Flow - Metric | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
Net cash provided by operating activities of continuing operations (USD, millions) | - | - | - | - | - | - | 463.8 | 38.8 | |
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) | - | - | - | - | - | - | 3.4 | 2.9 | |
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) | - | - | - | - | - | 444.00 | 573.7 | (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) | - | - | - | - | - | 106.00 | 333.3 | 128.6 | |
Amortization of debt discount and issuance costs (USD, millions) | - | - | - | - | - | 5.90 | 18.4 | 6.1 | |
Stock-based compensation costs (USD, millions) | - | - | - | - | - | - | 8.7 | 12.0 | |
Restructuring charges (USD, millions) | - | - | - | - | - | - | 22.0 | 0.5 | |
Inventory obsolescence expense (USD, millions) | - | - | - | - | - | 3.60 | 16.9 | 1.2 | |
Charge for expected credit losses (USD, millions) | - | - | - | - | - | 6.00 | 12.6 | 7.1 | |
Deferred income taxes (USD, millions) | - | - | - | - | - | (34.50) | (78.1) | (2.6) | |
Other non-cash items (USD, millions) | - | - | - | - | - | (4.50) | 3.0 | 1.5 | |
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) | - | - | - | - | - | 0.00 | 2.4 | - | |
Proceeds from 2024 Incremental Term Loan, net of discount (USD, millions) | - | - | - | - | - | 0.00 | 392.0 | - | |
2024 Incremental Term Loan debt issuance costs (USD, millions) | - | - | - | - | - | 0.00 | (5.1) | - | |
Proceeds from borrowings from Revolver (USD, millions) | - | - | - | - | - | 0.00 | 25.0 | - | |
Repayment of Term Loans and Senior Notes (USD, millions) | - | - | - | - | - | - | (32.0) | (7.7) | |
Proceeds from borrowings of other debt (USD, millions) | - | - | - | - | - | 0.90 | 8.3 | - | |
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) | - | - | - | - | - | - | 1.9 | 1.2 | |
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) | - | - | - | - | 47.0 | 47.0 | 47.0 | 620.7 | |
Cash and cash equivalents and restricted cash, end of period (USD, millions) | - | - | - | - | 176.7 | 620.7 | 620.7 | 453.3 | |
Cash and cash equivalents and restricted cash of discontinued operations, end of period (USD, millions) | - | - | - | - | - | 6.3 | 6.3 | 3.6 | |
Cash and cash equivalents and restricted cash of continuing operations, end of period (USD, millions) | - | - | - | - | - | 614.4 | 614.4 | 449.7 | |
Revenue by Segment - in Millions of USD | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 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 USD | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 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 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
Organic volume growth (percentage) | - | - | - | - | - | - | 3.6 | - | |
Change in volumes (percentage) | - | - | - | - | - | - | - | - |