PRMB

EX-99.1

2 ex991.htm

NEWS RELEASE DATED AUGUST 5, 2026

Exhibit 99.1

CONTACT:

Traci Mangini

Vice President, Investor Relations

investorrelations@primobrands.com

Primo Brands Reports 2026 Second Quarter Results

TAMPA, FL and STAMFORD, CT - August 5, 2026 - Primo Brands Corporation (NYSE: PRMB) (“Primo Brands” or the "Company") today announced its results for the second quarter ended June 30, 2026.

“We are encouraged by our first-half progress, which reflects stronger fundamentals, improved execution, and increased momentum across the business,” said Eric Foss, Chairman and Chief Executive Officer. “Second-quarter top-line results exceeded our expectations, driven by robust growth in Retail channels led by our regional spring water and premium brands and an earlier-than-anticipated return to growth in Direct Delivery.

“The strength we are seeing across the business gives us the confidence to raise our full-year Net Sales growth outlook for the second consecutive quarter. We are reaffirming our Adjusted EBITDA guidance range as we continue to prioritize growth investments, while actively managing inflationary pressures through multiple levers across the business.

“Our business fundamentals continue to improve, and we remain well positioned in an attractive, growing category. With a customer-first culture, a differentiated portfolio of leading brands across the value spectrum, an advantaged route to market, and disciplined execution, we believe we have the right foundation to drive sustainable, balanced growth, support margin expansion as growth scales, and create long-term stockholder value.”

SECOND

QUARTER PERFORMANCE

For the Three Months Ended

(USD $M except %, per share amounts or unless as otherwise noted) June 30, 2026 June 30, 2025 Change

Net sales $1,796.2 $1,730.1 3.8%

Net income from continuing operations $69.2 $30.5 $38.7

Net income per diluted share from continuing operations $0.19 $0.08 $0.11

Adjusted net income $134.2 $137.1 $(2.9)

Adjusted net income per diluted share $0.37 $0.36 $0.01

Adjusted EBITDA $385.0 $366.7 5.0%

Adjusted EBITDA margin % 21.4% 21.2% 20 bps

•Net sales increased 3.8% to $1.8 billion compared to $1.7 billion primarily driven by an increase in sales attributable to our premium brands and regional spring water, partially offset by a decrease in sales attributable to the exited US Office Coffee Services ("OCS") business not recurring in the current quarter.

•Gross margin was 30.5% compared to 31.3%, primarily driven by increased transportation related costs and depreciation and amortization, partially offset by the growth in revenue and lower non-recurring integration related costs incurred in the current quarter.

•SG&A expenses were $345.5 million compared to $378.6 million primarily driven by a decrease in marketing costs and a decrease in amortization primarily related to definite-lived intangibles amortization incurred in the prior year quarter not recurring in the current quarter.

•Net income from continuing operations and net income per diluted share were $69.2 million and $0.19 per diluted share, respectively, compared to net income from continuing operations and net income per diluted share of $30.5 million and $0.08, respectively.

•Adjusted EBITDA increased 5.0% to $385.0 million compared to $366.7 million and Adjusted EBITDA margin increased 20 bps to 21.4%, compared to 21.2%.

SECOND

QUARTER CASH FLOW & LIQUIDITY

•Net cash provided by operating activities from continuing operations of $227.9 million, less $104.6 million of capital expenditures and additions to intangible assets, resulted in $123.3 million of free cash flow, or $200.1 million of Adjusted Free Cash Flow (adjusting for the items set forth on Exhibit 6), compared to net cash provided by operating activities from continuing operations of $155.0 million and Adjusted Free Cash Flow of $169.7 million in the prior year quarter.

•Total debt, excluding unamortized debt costs and discounts, was $5.3 billion and unrestricted cash and cash equivalents totaled $366.5 million, each as of June 30, 2026, resulting in net debt of $4.9 billion and a net leverage ratio of 3.42x.

•Cash dividends were $43.5 million for the quarter ended June 30, 2026.

•Share repurchases under our repurchase plan, including brokerage commissions, were $15.5 million during the quarter ended June 30, 2026.

2026

FULL YEAR FINANCIAL OUTLOOK

Comparable Results1

Previous

Updated

($ in millions)

Low High

Low High

Net Sales Growth

1% 3%

2% 4%

Adjusted EBITDA

$1,465 $1,515

$1,465 $1,515

Base CAPEX

4% of Net Sales

4% of Net Sales

Adjusted Free Cash Flow

$790 $810

$790 $810

1Comparison period includes 2025 Net Sales and excludes the impact of the exited Eastern Canadian operations and exited US Office

Coffee Services business. See exhibit 8 for a reconciliation.

EARNINGS

CONFERENCE CALL

Primo Brands will host a conference call to discuss these results on Wednesday, August 5, 2026 at 8:00 a.m. Eastern Ti

EX-99.1

2 ex991.htm

NEWS RELEASE DATED MAY 7, 2026

Exhibit 99.1

CONTACT:

Traci Mangini

Vice President, Investor Relations

investorrelations@primobrands.com

Primo Brands Reports 2026 First Quarter Results

TAMPA, FL and STAMFORD, CT - May 7, 2026 - Primo Brands Corporation (NYSE: PRMB) (“Primo Brands” or the "Company") today announced its results for the first quarter ended March 31, 2026.

“We delivered a strong start to 2026, with momentum building across the business,” said Eric Foss, Chairman and Chief Executive Officer. "First quarter top-line results exceeded our expectations, driven by robust growth in Retail channels led by our premium brands and continued improvement in Direct Delivery.

“This performance and the trajectory across the business give us the confidence to raise our full-year organic Net Sales growth outlook. At the same time, while we have multiple levers to help mitigate inflationary pressures, given the dynamic macro environment, we are widening our Adjusted EBITDA guidance range.

"As a leader in a structurally-advantaged category, with a consumer- and customer-first culture, we’re investing to capitalize on the category momentum and the power of our brands. By elevating service and execution, we’re positioned for sustained growth, margin expansion, stronger free cash flow, and long-term stakeholder value. We are excited about the opportunities ahead.”

FIRST

QUARTER PERFORMANCE

For the Three Months Ended

(USD $M except %, per share amounts or unless as otherwise noted) March 31, 2026 March 31, 2025 Change

Net sales $1,626.1 $1,613.7 0.8%

Net income from continuing operations $27.3 $34.7 $(7.4)

Net income per diluted share from continuing operations $0.07 $0.09 $(0.02)

Adjusted net income $85.9 $111.9 $(26.0)

Adjusted net income per diluted share $0.23 $0.29 $(0.06)

Adjusted EBITDA $306.0 $341.5 (10.4)%

Adjusted EBITDA margin % 18.8% 21.2% (240) bps

•Net sales increased 0.8% to $1.63 billion compared to $1.61 billion primarily driven by an increase in sales attributable to our premium brands, partially offset by a decrease in sales attributable to the exited US Office Coffee Services ("OCS") business not recurring in the current year.

•Gross margin was 28.6% compared to 32.3%, primarily driven by increased transportation related costs, non-recurring integration related costs incurred in the current year, and increased depreciation and amortization.

•SG&A expenses were $336.7 million compared to $327.8 million and remained relatively consistent as a percentage of Net sales.

•Net income from continuing operations and net income per diluted share were $27.3 million and $0.07 per diluted share, respectively, compared to net income from continuing operations and net income per diluted share of $34.7 million and $0.09, respectively.

•Adjusted EBITDA decreased 10.4% to $306.0 million compared to $341.5 million and Adjusted EBITDA margin decreased 240 bps to 18.8%, compared to 21.2%.

FIRST

QUARTER CASH FLOW & LIQUIDITY

•Net cash provided by operating activities from continuing operations of $103.8 million, less $118.1 million of capital expenditures and additions to intangible assets, resulted in $(14.3) million of free cash flow, or $128.6 million of Adjusted Free Cash Flow (adjusting for the items set forth on Exhibit 6), compared to net cash provided by operating activities from continuing operations of $38.8 million and Adjusted Free Cash Flow of $54.7 million in the prior year period.

•Total debt, excluding unamortized debt costs and discounts, was $5.3 billion and unrestricted cash and cash equivalents totaled $287.9 million, each as of March 31, 2026, resulting in net debt of $5.0 billion and a net leverage ratio of 3.52x.

•Cash dividends of $44.2 million for the quarter ended March 31, 2026.

•Approximately $29.0 million, including brokerage commissions, for share repurchases under our share repurchase plan during the quarter ended March 31, 2026.

2026

FULL YEAR FINANCIAL OUTLOOK

Comparable Results1

Previous

Updated

($ in millions)

Low High

Low High

Organic Net Sales Growth

0% 1%

1% 3%

Adj. EBITDA

$1,485 $1,515

$1,465 $1,515

Base CAPEX

4% of Net Sales

4% of Net Sales

Adj. Free Cash Flow

$790 $810

$790 $810

1Comparison period includes 2025 Net Sales and excludes the impact of the exited Eastern Canadian operations and exited US Office

Coffee Services business. See exhibit 8 for a reconciliation.

EARNINGS

CONFERENCE CALL

Primo Brands will host a conference call to discuss these results on Thursday, May 7, 2026 at 8:00 a.m. Eastern Time. The company’s supplemental earnings presentation is now available on the Events & Presentation section of Primo Brands investor relations website at ir.primobrands.com. Details to access the earnings call and webcast are below.

North America: (888) 510-2154

International: (437) 900-0527

Conference ID: 73994

Webcast Link: https://app.webinar.net/JZ9lw3ZB5Yr

A slide presentation and live audio webcast w

EX-99.1

2 ex991.htm

NEWS RELEASE DATED FEBRUARY 26, 2026

Exhibit 99.1

CONTACT:

Traci Mangini

Vice President, Investor Relations

investorrelations@primobrands.com

Primo Brands Reports 2025 Fourth Quarter and Full Year Results

TAMPA, FL and STAMFORD, CT – February 26, 2026 – Primo Brands Corporation (NYSE: PRMB) (“Primo Brands” or the "Company") today announced its results for the fourth quarter and full year ended December 31, 2025.

“2025 was a year of transition as we continued to integrate two companies to form a leader in healthy hydration and across the US Liquid Refreshment Beverage category, said Eric Foss, Chairman and Chief Executive Officer. "Our fourth quarter performance indicates early signs that our initiatives are resulting in an improved trajectory for the business. This speaks to the strength and resilience of our business model.

“While I am encouraged by our progress, we need to continue to focus on improving our customer experience and fully leveraging the power of our brands and our advantaged go to market system.

"Since stepping into the Chairman and CEO role in November, I am even more energized and excited about our future. The challenges are within our control. We will continue to strategically reinvest in the business to take advantage of strong category momentum and our well-positioned brand portfolio to better service and execute, setting the company up to drive sustained growth, margin expansion, free cash flow generation and long-term value for shareholders.”

FOURTH

QUARTER PERFORMANCE

For the Three Months Ended

(USD $M except %, per share amounts or unless as otherwise noted) December 31, 2025 December 31, 2024 Change

Net sales $1,554.1 $1,397.2 11.2%

Net loss from continuing operations $(25.3) $(153.9) $128.6

Net loss per diluted share from continuing operations $(0.07) $(0.49) $0.42

Adjusted net income $94.1 $39.6 $54.5

Adjusted net income per diluted share $0.26 $0.13 $0.13

Adjusted EBITDA $334.1 $254.8 31.1%

Adjusted EBITDA margin % 21.5% 18.2% 330 bps

•Net sales increased 11.2% to $1.6 billion compared to $1.4 billion primarily driven by the inclusion of net sales attributable to Primo Water for the entire 2025 period due to the merger transaction, partially offset by a decrease in sales attributable to the sale of the production facility in Ontario, Canada in the first quarter of 2025.

•Gross margin was 27.7% compared to 30.8%, primarily driven by lower gross margin attributable to Primo Water due to the merger transaction and non-recurring integration costs attributable to BlueTriton Brands.

•SG&A expenses increased 1.5% to $341.0 million compared to $335.9 million, primarily driven by SG&A expense attributable to Primo Water due to the merger transaction, partially offset by nonrecurring management fees incurred in the prior year period.

•Net loss from continuing operations and net loss per diluted share were $25.3 million and $0.07 per diluted share, respectively, compared to net loss from continuing operations and net loss per diluted share of $153.9 million and $0.49, respectively.

•Adjusted EBITDA increased 31.1% to $334.1 million compared to $254.8 million and Adjusted EBITDA margin increased 330 bps to 21.5%, compared to 18.2%.

•Net cash provided by operating activities from continuing operations of $203.1 million, less $160.6 million of capital expenditures and additions to intangible assets, resulted in $42.5 million of free cash flow, or $214.8 million of Adjusted Free Cash Flow (adjusting for the items set forth on Exhibit 5), compared to net cash provided by operating activities from continuing operations of $93.7 million and Adjusted Free Cash Flow of $171.8 million in the prior year period.

FISCAL

YEAR PERFORMANCE

For the Fiscal Year Ended

(USD $M except %, per share amounts or unless as otherwise noted) December 31, 2025 December 31, 2024 Y/Y

Change

Net sales $6,664.0 $5,152.5 29.3%

Net income (loss) from continuing operations $80.4 $(12.6) $93.0

Net income (loss) per diluted share from continuing operations $0.21 $(0.05) $0.26

Adjusted net income $498.1 $245.0 $253.1

Adjusted net income per diluted share $1.33 $1.01 $0.32

Adjusted EBITDA $1,446.8 $994.6 45.5%

Adjusted EBITDA margin % 21.7% 19.3% 240 bps

•Net sales increased 29.3% to $6.7 billion compared to $5.2 billion primarily driven by net sales attributable to Primo Water due to the merger transaction, partially offset by a decrease in sales attributable to the sale of the production facility in Ontario, Canada in the first quarter of 2025.

•Gross margin was 30.3% compared to 31.5%, primarily driven by lower gross margin attributable to Primo Water due to the merger transaction and non-recurring integration costs attributable to BlueTriton Brands.

•SG&A expenses increased 32.3% to $1.4 billion compared to $1.1 billion, primarily driven by SG&A expenses attributable to Primo Water due to the merger transaction, partially offset by nonrecurring management fees incu

EX-99.1

2 ex991.htm

NEWS RELEASE DATED NOVEMBER 6, 2025

Exhibit 99.1

CONTACT:

Logan Grosenbacher

Investor Relations

investorrelations@primobrands.com

Primo Brands Reports Third Quarter 2025 Results

•Reports Net Sales of $1,766.1 million, a quarter-on-quarter increase of $36 million from Q2 2025, while expanding Adjusted EBITDA margin

•Continued double-digit Net Sales growth for premium brands

•Revises full year 2025 Net Sales and Adjusted EBITDA guidance; Reiterates Adjusted Free Cash Flow guidance

•Declares quarterly dividend of 10 cents per share

•Reaffirms cost synergy capture targets of $200 million in 2025; $300 million in 2026

TAMPA, FL and STAMFORD, CT - November 6, 2025 - Primo Brands Corporation (NYSE: PRMB) (“Primo Brands” or the "Company") today announced its results for the third quarter ended September 30, 2025.

“In the third quarter, we drove momentum in our business, grew unit case volume and invested in consumer value to expand household reach. We grew Retail net sales and volume and expanded both dollar and volume share, with double-digit net sales growth in our premium water brands, Saratoga® and The Mountain Valley®. We delivered strong performance from our Exchange and Refill offerings, with growing distribution, volumes, and net sales. In our home and office direct delivery business, we made significant strides during the quarter, improving service levels, last mile execution, and customer satisfaction. We continue to focus on strong execution in our delivery network as we work expeditiously to realize the benefits of the merger. With the progress made in customer service improvements, we are well positioned to pursue planned revenue growth initiatives to support our performance in 2026.”

“We are confident in our ability to deliver value for stockholders and return to long-term, on-algorithm growth," said Mr. Rietbroek. "As we approach next year, we are focused on delivering operational performance, realizing cost synergies in line with our targets, and accelerating revenue growth opportunities to support our long-term growth algorithm and continued margin expansion. To date, we have closed 49 facilities and continue to optimize headcount to enhance productivity and efficiency. One year post-merger, we have achieved many milestones while building a more resilient organization focused on customer service and operational excellence into 2026 and beyond.”

1

(Unless stated otherwise, all third quarter 2025 comparisons are relative to the third quarter of 2024; all information is in U.S. dollars. Pursuant to applicable requirements, these GAAP results are a comparison of the 2025 results for Primo Brands against the 2024 results for former Blue Triton Brands only. Non-GAAP reconciliations are presented in the exhibits to this press release)

THIRD

QUARTER 2025 RESULTS CONFERENCE CALL

Primo Brands will host a conference call, to be simultaneously webcast, on Thursday, November 6, 2025, at 10:00 a.m. Eastern Time. A question-and-answer session will follow management's presentation. To participate, please call the following numbers:

Details for the Earnings Conference Call:

Date: November 6, 2025

Time: 10:00 a.m. Eastern Time

North America: (888) 510-2154

International: (437) 900-0527

Conference ID: 27654

Webcast Link: https://app.webinar.net/4DVw0w9aWjk

A slide presentation and live audio webcast will be available through Primo Brands' website at ir.primobrands.com. The Company’s full year 2025 Net Sales, Adjusted EBITDA, and Adjusted Free Cash Flow guidance are available in the slide presentation and are expected to be discussed on the webcast.

Replay Information:

The earnings conference call will be recorded and archived for playback on the investor relations section of Primo Brands' website following the event.

2

THIRD

QUARTER PERFORMANCE

For the Three Months Ended

(USD $M except %, per share amounts or unless as otherwise noted) September 30, 2025 September 30, 2024 Y/Y Change

Net sales $1,766.1 $1,305.1 35.3%

Net income from continuing operations $40.5 $53.3 $(12.8)

Net income per diluted share from continuing operations $0.11 $0.24 $(0.13)

Adjusted net income $155.0 $76.9 $78.1

Adjusted net income per diluted share $0.41 $0.35 $0.06

Adjusted EBITDA $404.5 $264.1 53.2%

Adjusted EBITDA margin % 22.9% 20.2% 270 bps

•Net sales increased 35.3% to $1.8 billion compared to $1.3 billion primarily driven by net sales attributable to Primo Water due to the merger transaction and increased volumes attributable to BlueTriton, partially offset by a decrease in sales attributable to the sale of the production facility in Ontario, Canada in the first quarter of 2025.

•Gross margin was 29.9% compared to 31.9%, primarily driven by gross profit attributable to Primo Water as a result of the merger transaction.

•SG&A expenses increased 43.1% to $343.0 million compared to $239.7 million, primarily as a result of the merger transaction, partially offset by nonrecurrin

EX-99.1

2 ex991.htm

NEWS RELEASE DATED AUGUST 7, 2025

Exhibit 99.1

CONTACT:

Jon Kathol

Vice President, Investor Relations

investorrelations@primobrands.com

Primo Brands Reports Second Quarter 2025 Results

•Revises full year 2025 Net Sales, Adjusted EBITDA, and Adjusted Free Cash Flow guidance

•Reaffirms cost synergy capture targets of $200 million in 2025; $300 million in 2026

•Announces new share repurchase program of $250 million

•Declares quarterly dividend of 10 cents per share

•Reiterates post-2025 long-term growth algorithm of 3% to 5% organic Net Sales growth

TAMPA, FL and STAMFORD, CT – August 7, 2025 – Primo Brands Corporation (NYSE: PRMB) (“Primo Brands” or the "Company") today announced its results for the second quarter ended June 30, 2025.

"Since merging eight months ago, we have taken multiple actions to build our new operational footprint, capture synergies and create a leading healthy hydration beverage company. Our team has accomplished significant milestones – streamlining routes, closing facilities and optimizing headcount, with a majority of these integration activities implemented in the quarter," said Robbert Rietbroek, Chief Executive Officer. "Our Q2 results were impacted by previously reported tornado damage to our Hawkins, Texas facility, and service issues during the accelerated integration process. We have since successfully restarted the Hawkins facility and made significant progress toward improving the service issues. Importantly, we also continued executing against our growth strategy, including expanding total points of retail distribution, introducing cross-selling in our direct delivery network, and continuing our strong growth trends in our premium water business.”

"Due to these integration disruptions during the later part of Q2, and our reinvestment to correct the issues, we are revising full year 2025 Net Sales growth, Adjusted EBITDA, and Adjusted Free Cash Flow guidance. We expect to deliver our targeted cost synergy opportunity of $200 million in 2025 and $300 million in 2026, and remain confident in our long-term growth algorithm," continued Mr. Rietbroek.

“Despite these Q2 challenges, we continue to see strong consumer demand for healthy hydration, and are encouraged by our retail share growth in July. We believe we are taking the right steps to resolve the service issues, which we expect to be back to normal by the end of September. Our business model is resilient and is well positioned to deliver growth, improve margins, and generate strong cash flow going forward, which will enable us to opportunistically return value to shareholders with the new $250 million share repurchase program,” said Mr. Rietbroek.

1

(Unless stated otherwise, all second quarter 2025 comparisons are relative to the second quarter of 2024; all information is in U.S. dollars. Pursuant to applicable requirements, these GAAP results are a comparison of the 2025 results for Primo Brands against the 2024 results for former Blue Triton Brands only. Non-GAAP reconciliations are presented in the exhibits to this press release)

SECOND

QUARTER 2025 RESULTS CONFERENCE CALL

Primo Brands will host a conference call, to be simultaneously webcast, on Thursday, August 7, 2025, at 10:00 a.m. Eastern Time. A question-and-answer session will follow management's presentation. To participate, please call the following numbers:

Details for the Earnings Conference Call:

Date: August 7, 2025

Time: 10:00 a.m. Eastern Time

North America: (888) 510-2154

International: (437) 900-0527

Conference ID: 91812

Webcast Link: https://app.webinar.net/4DVw0w9aWjk

A slide presentation and live audio webcast will be available through Primo Brands' website at ir.primobrands.com. The Company’s revised full year 2025 Net Sales, Adjusted EBITDA, and Adjusted Free Cash Flow guidance are available in the slide presentation and are expected to be discussed on the webcast.

Replay Information:

The earnings conference call will be recorded and archived for playback on the investor relations section of Primo Brands' website following the event.

2

SECOND

QUARTER PERFORMANCE

For the Three Months Ended

(USD $M except %, per share amounts or unless as otherwise noted) June 30, 2025 June 30, 2024 Y/Y Change

Net sales $1,730.1 $1,314.4 31.6%

Net income from continuing operations $30.5 $54.5 $(24.0)

Net income per diluted share from continuing operations $0.08 $0.25 $(0.17)

Adjusted net income $137.1 $76.7 $60.4

Adjusted net income per diluted share $0.36 $0.35 $0.01

Adjusted EBITDA $366.7 $258.0 42.1%

Adjusted EBITDA margin % 21.2% 19.6% 160 bps

•Net sales increased 31.6% to $1.7 billion compared to $1.3 billion primarily driven by net sales attributable to Primo Water due to the merger transaction partially offset by a decrease in sales attributable to the sale of the production facility in Ontario, Canada in the first quarter of 2025.

•Gross margin was 31.3% compared to 32.7%, primarily driven by gross

EX-99.1

2 ex991.htm

NEWS RELEASE DATED MAY 8, 2025

Exhibit 99.1

CONTACT:

Jon Kathol

Vice President, Investor Relations

investorrelations@primobrands.com

Primo Brands Reports First Quarter 2025 Results

•Delivers strong organic Net Sales growth, primarily driven by volume

•Expands Adjusted EBITDA margin

•Integration on schedule with cost synergies opportunity of $300 million, with $200 million expected to be captured in 2025; balance expected to be captured in 2026

•Reaffirms full year 2025 Net Sales, Adjusted EBITDA and Adjusted Free Cash Flow guidance

TAMPA, FL and STAMFORD, CT – May 8, 2025 – Primo Brands Corporation (NYSE: PRMB) (“Primo Brands” or the "Company") today announced its results for the first quarter ended March 31, 2025.

"During our first full quarter as Primo Brands, we achieved strong organic net sales, volume and market share growth, leading to increased earnings and expanded margins. We are on track to realize our $200 million cost synergies opportunity by 2025, supporting our full-year outlook for Net Sales, Adjusted EBITDA, and Adjusted Free Cash Flow," said Robbert Rietbroek, Chief Executive Officer.

"In a challenging macro environment, our resilient business model positions us for continued success. Our focus on domestic manufacturing scale and efficiency, cost control, and synergy capture, combined with exceptional customer service, should enable us to continue to grow volume and deliver margin expansion, resulting in continued shareholder value creation," added Mr.Rietbroek.

(Unless stated otherwise, all first quarter 2025 comparisons are relative to the first quarter of 2024; all information is in U.S. dollars. Pursuant to applicable requirements, these GAAP results are a comparison of the 2025 results for Primo Brands against the 2024 results for former Blue Triton Brands only. Non-GAAP reconciliations are presented in the exhibits to this press release)

FIRST QUARTER

2025 RESULTS CONFERENCE CALL

Primo Brands will host a conference call, to be simultaneously webcast, on Thursday, May 8, 2025, at 10:00 a.m. Eastern Time. A question-and-answer session will follow management's presentation. To participate, please call the following numbers:

1

Details for the Earnings Conference Call:

Date: May 8, 2025

Time: 10:00 a.m. Eastern Time

North America: (888) 510-2154

International: (437) 900-0527

Conference ID: 62685

Webcast Link: https://app.webinar.net/RAjMJAqJVEN

A slide presentation and live audio webcast will be available through Primo Brands' website at ir.primobrands.com.

Replay Information:

The earnings conference call will be recorded and archived for playback on the investor relations section of Primo Brands' website for a period of two weeks following the event.

FIRST

QUARTER PERFORMANCE

For the Three Months Ended

(USD $M except %, per share amounts or unless as otherwise noted) March 31, 2025 March 31, 2024 Y/Y Change

Net sales $1,613.7 $1,135.8 42.1%

Net income from continuing operations $34.7 $33.5 $1.2

Net income per diluted share from continuing operations $0.09 $0.15 $(0.06)

Adjusted net income $111.9 $49.1 $62.8

Adjusted net income per diluted share $0.29 $0.22 $0.07

Adjusted EBITDA $341.5 $217.7 56.9%

Adjusted EBITDA margin % 21.2% 19.2% 200 bps

•Net sales increased 42.1% to $1.6 billion compared to $1.1 billion primarily driven by net sales attributable to Primo Water due to the merger transaction.

•Gross margin was 32.3% primarily driven by gross profit attributable to Primo Water due to the merger transaction, as well as lower maintenance costs.

•SG&A expenses increased 49.9% to $327.8 million compared to $218.7 million. The increase was as a result of the merger transaction.

•Net income from continuing operations and net income per diluted share were $34.7 million and $0.09 per diluted share, respectively, compared to net income from continuing operations and net income per diluted share of $33.5 million and $0.15, respectively.

2

•Adjusted EBITDA increased 56.9% to $341.5 million compared to $217.7 million and Adjusted EBITDA margin increased 200 bps to 21.2%, compared to 19.2%.

•Net cash provided by operating activities from continuing operations of $38.8 million, less $69.5 million of capital expenditures and additions to intangible assets, resulted in $(30.7) million of free cash flow, or $54.7 million of Adjusted Free Cash Flow (adjusting for the items set forth on Exhibit 5), compared to net cash provided by operating activities from continuing operations of $6.0 million and Adjusted Free Cash Flow of $(23.6) million in the prior year.

QUARTERLY

DIVIDEND

On May 1, 2025 Primo Brands announced that its Board of Directors declared a dividend of $0.10 per share on the outstanding common stock of the Company, payable on June 17, 2025, in cash, to the holders of record of such common stock of the Company at the close of business on June 6, 2025.

ABOUT

PRIMO BRANDS CORPORATION

Primo Brands is a leading North American brand

EX-99.1

2 ex991.htm

NEWS RELEASE DATED FEBRUARY 20, 2025

Exhibit 99.1

CONTACT:

Jon Kathol

Vice President, Investor Relations

Tel:813-544-8515

investorrelations@primobrands.com

Primo Brands Reports Full-Year

and Fourth Quarter 2024 Results

Reports Strong Organic Combined Net Sales Growth

Estimated Cost Synergy Opportunity Increased to $300M

•Reports strong Organic Combined Net Sales growth driven primarily by volume

•Integration ahead of schedule; increases estimated cost synergy opportunity to $300 million, with $200 million expected to be captured in 2025; balance expected to be captured in 2026

•Issues full year 2025 Net Sales, Adjusted EBITDA and Adjusted Free Cash Flow guidance

•Increases quarterly dividend to $0.10 per common share

TAMPA, FL and STAMFORD, CT - February 20, 2025 - Primo Brands Corporation (NYSE: PRMB) (“Primo Brands” or the "Company"), today announced its results for the full year and fourth quarter ended December 31, 2024.

“We had a strong finish to the year as a combined company, Primo Brands Corporation. We exceeded net sales and volume expectations across our core water channels. Organic Combined Net Sales growth was primarily driven by volume which led to earnings growth and margin expansion. Our focus on our 'must-wins' of brand leadership, net organic growth, delivering superior customer service, providing operational excellence and being the first choice for stakeholders drives growth and creates value. Our strength of brands, market share gains, and increased customer service continues to drive strong momentum,” said Robbert Rietbroek, Chief Executive Officer.

"I am pleased with the progress of our integration. We have accelerated the size and speed of cost synergy capture. It is now forecasted to be $100 million higher and one year sooner, with $300 million in total expected by year end 2026. First-year 2025 synergies are estimated to be $200 million, with the balance occurring in 2026. The synergy capture is reflected in our 2025 outlook," said Mr. Rietbroek.

(Unless stated otherwise, all fourth quarter 2024 comparisons are relative to the fourth quarter of 2023; all information is in U.S. dollars. Non-GAAP reconciliations presented on the exhibits to this press release)

1

Q4 AND FULL

YEAR FINANCIAL SUMMARY

For the Three Months Ended For the Fiscal Year Ended

($ in millions) December 31, 2024 December 31, 2023 Change December 31, 2024 December 31, 2023 Change

Net Sales $1,397.2 $1,086.0 28.7% $5,152.5 $4,698.7 9.7%

Net (Loss) Income from Continuing Operations $(153.9) $12.1 NM $(12.6) $92.8 NM

Net (Loss) Income from Continuing Operations Attributable to Common Stockholders3 $(153.9) $3.6 NM $(12.6) $63.9 NM

Adj. EBITDA1 $254.8 $205.3 24.1% $994.6 $783.6 26.9%

Combined Net Sales2 $1,609.0 $1,524.8 5.5% $6,810.1 $6,462.9 5.4%

Combined Adj. EBITDA1 $301.4 $290.6 3.7% $1,352.5 $1,131.4 19.5%

1 See Non-GAAP Financial Measures for additional information regarding non-GAAP financial metrics.

2Includes combined results of BlueTriton and Primo Water prior to the business combination, inclusive of accounting policy and fiscal year conformity adjustments. See Basis of Presentation below.

3 See exhibit 6

Q4 2024 Combined Net Sales were $1.609 billion, an increase of 5.5% from the year-ago period, primarily driven by volume gains of 4.4%. Organic contribution was 5.1%.

Q4 2024 Combined Adjusted EBITDA was $301.4 million, an increase of 3.7% from the year-ago period, with Combined Adjusted EBITDA margin of 18.7%.

Full year 2024 Combined Net Sales were $6.810 billion, up 5.4% from the year-ago period, primarily driven by volume gains of 3.4%. Organic contribution was 5.0%.

Full year 2024 Combined Adjusted EBITDA was $1.353 billion, an increase of 19.5% from the year-ago period, with Combined Adjusted EBITDA margin of 19.9%.

OUTLOOK

Primo Brands is targeting the following results for full-year 2025, inclusive of the estimated $200 million cost synergies opportunity anticipated for 2025:

Comparable Results1 2025 Range

($ in millions) Low High

Net Sales Growth 3% 5%

Adj. EBITDA $1,600 $1,628

CAPEX

4% of Net Sales

Adj. Free Cash Flow $790 $810

1Comparison period includes 2024 Combined Financials, less results of exited Eastern Canadian operations. For Net Sales reconciliation please see exhibit 9

2

FOURTH QUARTER

AND FULL YEAR 2024 RESULTS CONFERENCE CALL

Primo Brands will host a conference call, to be simultaneously webcast, on Thursday, February 20, 2025, at 10:00 a.m. Eastern Time. A question-and-answer session will follow management's presentation. To participate, please call the following numbers:

Details for the Earnings Conference Call:

Date: February 20, 2025

Time: 10:00 a.m. Eastern Time

North America: (888) 510-2154

International: (437) 900-0527

Conference ID: 36944

Webcast Link: https://app.webinar.net/vKwE1br1j4n

A slide presentation and live audio webcast will be available through Primo Brands' website at ir.primobrands.com.

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