Management

Primo Water reports first-quarter 2021 results

May 10, 2021

First-quarter financial results are ahead of expectations; company raises full-year adjusted EBITDA guidance $10 million to between $380 million and $390 million

Source Primo Water Corp.

[Credit: Primo Water Corp.]

Primo Water Corp. (NYSE: PRMW) (TSX: PRMW) announced its results for the first quarter ended April 3, 2021.

KEY POINTS:

Revenue increased 1% to $478 million, compared wit $474 million.
Reported net loss and net loss per diluted share were $10 million and $0.06, respectively, compared with reported net loss and net loss per diluted share of $27 million and $0.19, respectively.
Adjusted EBITDA increased 8% to $76 million, compared with $70 million, and adjusted EBITDA margin increased by 110 basis points to 15.9%.
Company reiterates expectation for 5% revenue growth in 2021, plus growth from tuck-in M&A.
Outlook for Adjusted EBITDA raised $10 million to between $380 million and $390 million.

Headquartered in Tampa, FL, Primo Water Corp. is a water solutions provider in North America, Europe and Israel. Primo offers pre-filled and reusable containers at more than 13,000 locations and water refill units at about 22,000 locations. It also offers water filtration units in 21 countries.

See Primo's full financial announcement at PR Newswire.