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May 22, 2015 11:40 PM ET

Beverages

Company Overview of Primo Water Corporation

Company Overview

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. The company operates in two segments, Primo Water and Primo Dispensers. The Primo Water segment offers exchange and refill services through point of purchase display racks, or self-serve filtered water displays and recycling centers. The Primo Dispensers segment sells water dispensers that are designed to dispense Primo and other dispenser-compatible bottled water. This segment also designs, markets, and arranges for certification and inspection of its water dispensers. As of December 31, 2014, the company’s pr...

104 Cambridge Plaza Drive

Winston-Salem, NC 27104

United States

Founded in 2004

117 Employees

Phone:

336-331-4000

Key Executives for Primo Water Corporation

Founder, Chairman and Chief Executive Officer
Age: 58
Total Annual Compensation: $422.8K
President and Chief Operating Officer
Age: 39
Total Annual Compensation: $313.2K
Chief Financial Officer, Secretary and Assistant Treasurer
Age: 49
Total Annual Compensation: $264.2K
Compensation as of Fiscal Year 2014.

Primo Water Corporation Key Developments

Primo Water Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Raises Earnings Guidance for the Full Year 2015; Provides Earnings Guidance for the Second Quarter of 2015

Primo Water Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company’s income from operations was $320,000 against loss of $2,358,000 a year ago. Loss from continuing operations was $199,000 against $3,634,000 a year ago. Net loss was $237,000 against $3,753,000 a year ago. Basic and diluted loss from continuing operations per common share was $0.01 against $0.15 a year ago. Basic and diluted loss per common share was $0.01 against $0.16 a year ago. EBITDA was $2,905,000 against $386,000 a year ago. Net sales increased 24.2% to $29.2 million from $23.5 million in the prior year, driven by an increase in both the Water and Dispensers segment net sales. Adjusted EBITDA increased 36.5% to $3.7 million from $2.7 million in the prior year, driven by the increase in net sales in both the Water and Dispensers segments. Net cash provided by operating activities was $1,883,000 against $4,447,000 a year ago. Purchases of property and equipment were $1,474,000 against $1,501,000 a year ago. Purchases of bottles, net of disposals were $706,000 against $1,202,000 a year ago. Pro forma fully taxed net income from continuing operations was $324,000 or $0.01 per share against loss of $859,000 or $0.04 per share a year ago. The company raised its full year 2015 outlook for net sales to a range of $114.5 to $118.5 million, up from previous guidance of $113 million to $117 million and adjusted EBITDA to a range of $14.7 to $16.2 million, up from previous guidance of $14.4 million to $15.7 million. The company expects second quarter 2015 net sales in the range of $29.8 to $30.8 million and adjusted EBITDA in the range of $3.8 to $4.0 million.

Primo Water Corporation to Report Q1, 2015 Results on May 05, 2015

Primo Water Corporation announced that they will report Q1, 2015 results at 4:30 PM, US Eastern Standard Time on May 05, 2015

Primo Water Corporation, Q1 2015 Earnings Call, May 05, 2015

Primo Water Corporation, Q1 2015 Earnings Call, May 05, 2015

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