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.
News and updates for Primo Water Corporation (NYSE: PRMW; TSX: PRMW) focus on its role as a North America-focused pure-play water solutions provider and its transition into the combined Primo Brands Corporation. Company announcements regularly cover financial results, strategic transactions, and developments in its large format water and healthy hydration business.
Investors following PRMW-related news can expect coverage of quarterly earnings releases, where Primo Water reports revenue, margins, adjusted EBITDA, and free cash flow from continuing operations. These releases often include commentary on performance across its Water Direct, Water Exchange, and Water Refill channels, as well as updates on its water dispensers and filtration offerings across North America.
Another major theme in recent news is the all-stock business combination between Primo Water and an affiliate of BlueTriton Brands, Inc. News items describe regulatory milestones, shareowner approvals, court approvals, and the closing of the transaction that created Primo Brands Corporation. They also outline the expected transition of trading from PRMW to the new NYSE ticker PRMB and provide details on dividends associated with the transaction.
In addition, company releases highlight Primo Water’s and Primo Brands’ focus on sustainable, reusable packaging, water stewardship, and partnerships with organizations such as the International Bottled Water Association in North America. For readers tracking PRMW, this news feed offers a centralized view of historical and transitional information as Primo Water becomes part of the broader Primo Brands platform.
Primo Water (NYSE: PRMW) (TSX: PRMW), a leading provider of sustainable drinking water solutions in North America, has announced a quarterly dividend. The company's Board of Directors has declared a dividend of US$0.09 per share on common shares. This dividend will be payable in cash on September 5, 2024 to shareowners of record at the close of business on August 22, 2024. This announcement demonstrates Primo Water's commitment to returning value to its shareholders and may indicate the company's financial stability and confidence in its future performance.
Primo Water (NYSE: PRMW) (TSX: PRMW), a leading provider of sustainable drinking water solutions in North America, has announced the release date for its second quarter 2024 financial results. The company will publish its results for the quarter ended June 29, 2024, before markets open on Thursday, August 8, 2024. Following the release, Primo Water will host a conference call and simultaneous webcast at 10:00 a.m. Eastern Time on the same day.
Due to the pending merger with BlueTriton, the Q&A session will be moderated by the Investor Relations team. Participants are encouraged to submit questions in advance to investorrelations@primowater.com. The most relevant questions will be addressed during the call. A replay of the webcast will be available on the company's investor relations website after the event.
Primo Water and BlueTriton Brands have agreed to merge, forming a leading North American healthy hydration company. This all-stock transaction, unanimously approved by both companies' Boards of Directors, is expected to generate $200 million in cost synergies. The combined entity will achieve estimated net revenue and adjusted EBITDA of $6.5 billion and $1.5 billion, respectively, for the twelve months ending March 31, 2024.
Primo Water shareholders will hold 43% of the new company, while BlueTriton shareholders will own 57%. A special dividend of $0.82 per share, totaling up to $133 million, will be distributed to Primo Water shareholders before the transaction closes, anticipated in the first half of 2025. The new company will have dual headquarters in Tampa, Florida, and Stamford, Connecticut, with Robbert Rietbroek as CEO, Dean Metropoulos as Non-Executive Chairman, and David Hass as CFO.
The merger aims to enhance brand portfolios, diversify product offerings, and expand distribution capabilities. Financial advisors for the transaction include Bank of America Securities for Primo Water and Morgan Stanley for BlueTriton.
Primo Water announced its Q1 2024 results, surpassing revenue and EBITDA guidance. Revenue increased to $452 million, up by 9.6%, with organic growth at 8.3%. Gross margin rose to 64.4%, net income to $19 million, and Adjusted EBITDA to $94 million. Full-year revenue, EBITDA, and free cash flow outlooks were raised. Shareholders can expect a dividend of US$0.09 per share. The company also repurchased shares worth $9 million.
Primo Water announced the results of the voting for directors at its annual and special meeting of shareowners. All the nominees listed in the proxy statement were elected as directors of the company. The detailed voting results show high percentages of votes 'For' each nominee, indicating shareholder confidence in the current board members.
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