Quarterly ResultMay 7, 2026, 08:02 AM
Primo Brands Q1 Net Sales $1.63B; Raises FY Organic Net Sales Outlook
AI Summary
Primo Brands reported its first quarter 2026 financial results, with net sales increasing 0.8% to $1.63 billion, exceeding expectations. However, net income from continuing operations decreased to $27.3 million, and Adjusted EBITDA fell 10.4% to $306.0 million, primarily due to increased transportation and integration costs. The company raised its full-year organic Net Sales growth outlook to 1-3% but widened its Adjusted EBITDA guidance range to $1,465M-$1,515M, citing dynamic macro environment and inflationary pressures.
Key Highlights
- Q1 2026 Net sales increased 0.8% to $1.63 billion.
- Q1 2026 Net income from continuing operations was $27.3 million, down from $34.7 million.
- Q1 2026 Adjusted EBITDA decreased 10.4% to $306.0 million, with margin at 18.8%.
- Q1 2026 Gross margin was 28.6%, down from 32.3% in the prior year.
- Q1 2026 Free cash flow was $(14.3) million; Adjusted Free Cash Flow was $128.6 million.
- Total debt was $5.3 billion, with net debt of $5.0 billion as of March 31, 2026.
- Full-year organic Net Sales growth outlook raised to 1-3% (from 0-1%).
- Full-year Adjusted EBITDA guidance widened to $1,465M-$1,515M.