Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 95

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 95
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, the 2023 effective tax rate was 27.1%, primarily impacted by discrete items in the prior year period. Net Income Net income for the three months ended September 30, 2024 was $53.3 million, a decrease of $4.2 million as compared to the three months ended September 30, 2023, due to the factors mentioned above. Segment Results Retail

|                    |     | Three Months Ended September 30, 
 2024                             
 ($ in millions)                  |       |   |     | 2023 |       |   |     | $ Variance |      |     | % Change |      |   |
|:-------------------|:----|:---------------------------------|------:|:--|:----|:-----|------:|:--|:----|:-----------|-----:|:----|:---------|-----:|:--|
| Net sales          |     | $                                | 987.7 |   |     | $    | 947.6 |   |     | $          | 40.1 |     |          |  4.2 | % |
| Operating income   |     |                                  | 146.5 |   |     |      | 111.6 |   |     |            | 34.9 |     |          | 31.3 | % |
| Operating margin % |     |                                  |  14.8 | % |     |      |  11.8 | % |     |            |      |     |          |      |   |

Net sales for the three months ended September 30, 2024 were $987.7 million, an increase of $40.1 million, or 4.2%, as compared to the three months ended September 30, 2023, due to effective pricing and mix improvements and, to a lesser extent, 1.6% volume growth. Operating income for the three months ended September 30, 2024 was $146.5 million, an increase of $34.9 million, compared to the three months ended September 30, 2023, primarily as a result of the aforementioned increase in volumes and the overall improved gross margins of 330 basis points, as a result of $20.0 million lower freight and storage costs when compared to the prior year, offsetting an increase of $8.0 million in packaging costs. The operating income improvement was also partially offset by a