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 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.
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Primo Water Corporation (NYSE: PRMW) announced a dividend increase to $0.07 per share, up 16.7% from $0.06, payable on March 28, 2022. The record date for the dividend is March 11, 2022. With annual revenues of approximately $2.1 billion, Primo offers sustainable drinking water solutions across 22 countries, promoting a healthier lifestyle while reducing plastic waste. The company operates under a recurring revenue model with a wide distribution network, including over 13,000 water exchange locations.
Primo Water Corporation (NYSE: PRMW) announced the launch of its new alkaline water brand, Primo Plus, on January 31, 2022. This product complements Primo's existing portfolio, which includes 12 regional and three national brands, aiming to meet the demand for healthy hydration options. Primo Plus is available in 3-gallon bottles and will be distributed in select locations in Sacramento and Southern California, with further rollout planned throughout Q1 and Q2 of 2022. The company generates approximately $2.0 billion in annual revenue through a recurring revenue model.
Primo Water Corporation (NYSE: PRMW) announced it will release its fourth quarter and fiscal year 2021 financial results on February 24, 2022, before the market opens. A conference call will follow at 10:00 a.m. Eastern Time, with a live audio webcast available via the company's website. Primo is a leading provider of sustainable drinking water solutions, generating approximately $2.0 billion in annual revenue through its innovative water dispensers and services that promote a sustainable lifestyle while reducing plastic waste.
Primo Water Corporation (NYSE: PRMW) has announced the acquisition of Sip-Well NV, a leading distributor of water solutions in Belgium. This acquisition strengthens Primo's presence in Western and Central Europe and positions SipWell for growth, driven by increased water consumption and healthier lifestyles. SipWell serves over 20,000 customers with premium water solutions and will continue operations under Primo's global organization. The strategic move enhances Primo's market leadership in sustainable drinking solutions while expanding its product offerings across Europe.
Primo Water Corporation (NYSE: PRMW) announced the acquisition of two water businesses in North America through its subsidiary, Primo Water North America. The acquisitions include Clear Mountain Refreshment Services in Arkansas and North Texas Mountain Valley Corporation, enhancing distribution of Primo's Mountain Valley® premium water brand. These companies collectively serve over 17,000 customers in a region with nearly 20 million residents, reinforcing Primo's commitment to providing sustainable water solutions.
Primo Water Corporation (NYSE: PRMW) has announced the certification of its Mountain Valley and Georgia Mountain sites by SCS Global Services, meeting the Alliance for Water Stewardship (AWS) International Water Stewardship Standard. This certification confirms the company’s commitment to responsible water management. Following previous successes with its Diamond Spring and Wekiva Spring sites, Primo aims to certify all key owned spring water sources by the end of 2022. The company generates approximately $2.0 billion in annual revenue, focusing on sustainability in its water solutions.
Primo Water Corporation (NYSE: PRMW) disclosed its 2024 organic growth outlook during a virtual investor day on Nov. 17, 2021. The company anticipates high single-digit revenue growth and projects adjusted EBITDA between $500 million and $525 million, with an EBITDA margin rising to the high 21% range. Adjusted EPS is expected to be between $1.10 and $1.20 per share. Additionally, Primo announced a multi-year dividend increase, raising the quarterly payout by $0.01 for the years 2022 to 2024, representing an almost 15% annual growth rate.
Primo Water Corporation (NYSE: PRMW) reported a 6% revenue increase to $551 million for Q3 2021, driven by demand in North America Water Direct. Net income fell to $18 million, while adjusted EBITDA decreased 4% to $106 million, impacted by labor inefficiencies linked to COVID-19. The company plans to exit the single-use retail bottled water market to enhance profitability and reduce its carbon footprint. It maintains full year Adjusted EBITDA guidance of $390-$400 million and anticipates 6% organic revenue growth in 2021.