Quarterly ResultMay 7, 2026, 12:24 PM
Primo Brands Q1 Net Income $27.3M; Refinances $3.09B Term Loan
AI Summary
Primo Brands Corp reported net income of $27.3 million for the first quarter of 2026, a decrease from $28.7 million in the prior year, despite a slight increase in net sales to $1,626.1 million. The company also completed a significant refinancing of its Term Loans, converting $3,067.6 million into a new $3,090.0 million facility maturing in March 2031, which resulted in a $17.7 million loss on modification. Operating cash flow saw a substantial increase to $103.8 million.
Key Highlights
- Refinanced $3,067.6M Term Loans into a new $3,090.0M facility maturing March 2031.
- Reported Q1 2026 net sales of $1,626.1M, up from $1,613.7M year-over-year.
- Net income for Q1 2026 was $27.3M, down from $28.7M in Q1 2025.
- Diluted EPS for Q1 2026 was $0.07, compared to $0.08 in Q1 2025.
- Net cash provided by operating activities increased to $103.8M from $38.8M.
- Incurred a $17.7M loss on modification and extinguishment of debt.
- Repurchased 1.54M shares for $29.0M; $78.3M remains in buyback program.
- Declared a quarterly dividend of $0.12 per share, paid March 23, 2026.