Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 99

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 99
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     |   |   (11.4 | ) |     |   |       20.4 |   |     |     |   (178.9 | )% |
| Operating income                                    |     |                                  |   157.5 |   |     |   |   154.7 |   |     |   |        2.8 |   |     |     |      1.8 | %  |
| Operating margin %                                  |     |                                  |    12.1 | % |     |   |    12.4 | % |     |   |            |   |     |     |          |    |
| Interest and financing expense, net                 |     |                                  |    85.7 |   |     |   |    75.8 |   |     |   |        9.9 |   |     |     |     13.1 | %  |
| Income before income taxes                          |     |                                  |    71.8 |   |     |   |    78.9 |   |     |   |       (7.1 | ) |     |     |     (9.0 | )% |
| Provision for income taxes                          |     |                                  |    18.5 |   |     |   |    21.4 |   |     |   |       (2.9 | ) |     |     |    (13.6 | )% |
| Net income                                          |     | $                                |    53.3 |   |     | $ |    57.5 |   |     | $ |       (4.2 | ) |     |     |     (7.3 | )% |

Net Sales Net sales for the three months ended September 30, 2024 were $1,305.1 million, an increase of $52.5 million, or 4.2%, as compared to the three months ended September 30, 2023, primarily driven by effective pricing and mix improvements and total volume growth of 1.7% across both segments. 61

Cost of Sales

Cost of sales consists primarily of manufacturing, shipping and logistics, storage and handling costs, personnel costs, and allocated
facilities and overhead costs associated with the products sold. Manufacturing costs consist primarily of water sourcing costs, packaging costs, and labor and utilities to convert raw materials into finished products.

During the three months ended September 30