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Primo Brands (PRMB) investor relations material
Primo Brands Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Leadership transition: Eric Foss appointed Chairman and CEO, succeeding Dean Metropoulos, who remains on the board; Robbert departs post-merger integration.
Integration of Primo Water and BlueTriton Brands progressing, with service levels and operational performance returning to pre-integration standards.
Q3 2025 comparable net sales declined 1.6% year-over-year, with flat volume and a 1.6% decrease in price/mix; adjusted EBITDA margin rose 180 bps to 22.9%.
Premium water brands Saratoga and Mountain Valley saw net sales up over 44% year-over-year, driving overall premium segment growth.
Focus on organic brand growth, synergy capture, and operational excellence to reinforce long-term growth and value creation.
Financial highlights
Q3 2025 net sales: $1.766 billion, down 1.6% year-over-year on a comparable basis, but up 35.3% from Q3 2024 reported results.
Comparable Adjusted EBITDA grew 6.8% year-over-year to $404.5 million, with a margin of 22.9%.
Adjusted net income rose to $155.0 million from $76.9 million year-over-year.
Adjusted Free Cash Flow for Q3: $311.1 million, up from $234.8 million year-over-year; trailing 12-month conversion ratio at 51.9%.
Quarterly dividend increased 11% to $0.10 per share.
Outlook and guidance
Net sales guidance revised to a low single-digit decline year-over-year, reflecting slower recovery in direct delivery.
Adjusted EBITDA guidance set at $1.44–$1.46 billion (21.8% margin), up 180 basis points from prior year.
Adjusted Free Cash Flow guidance reiterated at $740–760 million.
Cost synergy targets reaffirmed: $200 million in 2025, $300 million in 2026.
2026 growth to be driven by premium brand investments, expanded distribution, and pricing actions.
True organic growth given 2024 GAAP basis?
How much of 2025 cost synergy target realized?
New CEO's immediate strategic priorities?
Eric Foss's strategic shifts for growth?
Key drivers for direct delivery volume recovery?
Impact of unwinding temporary costs on 2026 margins?
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Next Primo Brands earnings date
Status Update7 Jan, 2026
Next Primo Brands earnings date
Status Update7 Jan, 2026
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