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Primo Brands Reports Strong Financial Performance for 2024

February 20, 2025 — Tampa, FL and Stamford, CT
Primo Brands Corporation (NYSE: PRMB) has released its impressive financial results for the year and the fourth quarter ending December 31, 2024. The company reported substantial growth in organic combined net sales, driven largely by increased volume in key water channels. CEO Robbert Rietbroek emphasized that the company not only exceeded sales expectations but also enhanced its margins, a testament to their focused strategy on brand leadership and customer service.

Key Financial Highlights

In the fourth quarter of 2024, Primo Brands achieved a net sales figure of $1.397 billion, marking an extraordinary 28.7% increase from $1.086 billion in Q4 2023. For the full fiscal year, the net sales rose to $5.153 billion, up 9.7% from $4.699 billion. The company’s adjusted EBITDA for the quarter improved by 24.1%, amounting to $254.8 million, with a robust Adjusted EBITDA margin of 18.2%.

Despite the strong sales and EBITDA growth, the net loss from continuing operations was reported at $153.9 million for Q4 2024, compared to a gain of $12.1 million the year prior. However, Rietbroek highlighted that this was primarily due to the costs associated with acquisition and integration expenses.

Synergy and Outlook for 2025

With the integration of Primo Water and Triton Water having concluded, the company has accelerated its synergy capture, now forecasting a potential of $300 million, an increase of $100 million from previous estimates. For fiscal year 2025, an estimated $200 million is expected to be realized, with the balance in 2026.

Primo Brands has also provided sales guidance for the upcoming fiscal year, projecting a net sales growth of 3% to 5% along with adjusted EBITDA forecasted between $1.600 billion and $1.628 billion. This reflects their confidence in maintaining the growth momentum established during 2024.

Shareholder Returns and Dividends

In a positive note for investors, Primo Brands increased its quarterly dividend to $0.10 per common share, payable on March 24, 2025. The company’s commitment to returning value to shareholders is evident, aligning with their robust financial performance.

Commitment to Sustainability

Primo Brands emphasizes responsible sourcing and sustainability, managing an extensive portfolio of over 90 springs and making significant efforts to conserve approximately 28,000 acres of land across the U.S. and Canada. The company actively champions sustainable practices through its innovative packaging and hydration solutions, catering to consumer needs responsibly.

Closing Thoughts

As Primo Brands Corporation continues to solidify its position in the North American beverage market, the emphasis on integration, customer service, and sustainability will drive further growth. The upcoming investor day on February 27, 2025, promises additional insights into the company’s long-term strategies and synergy achievements, showcasing their trajectory in the branded beverage landscape.

For more information and to access detailed financial analyses, stakeholders can find resources on Primo Brands' investor relations website.