Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 139

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 139
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 compared to $9.7 million in the prior year period. Acquisition and Integration Expenses Acquisition and integration expenses increased to $8.2 million in the third quarter from $2.4 million in the prior year period. Acquisition and integration expenses as a percentage of revenue was 1.6% in the third quarter compared to 0.5% in the prior year period. 95

North America acquisition and integration expenses remained relatively flat at
$1.0 million in the third quarter compared to $1.4 million in the prior year period.

Other acquisition and integration expenses
increased to $7.2 million in the third quarter compared to $1.0 million in the prior year period due primarily to increased legal and other professional fees in the current year period related to the Transaction.

Gain on Sale of Property

Gain on sale of
property decreased to nil in the third quarter from $5.3 million in the prior year period. Gain on sale of property as a percentage of revenue was 0.0% in the third quarter compared to 1.1% in the prior year period.

The decrease was due to the completion of sale transactions for two of Primo Water’s owned real properties in the prior year period.

Operating Income

Operating income
decreased to $59.0 million in the third quarter from $59.8 million in the prior year period.

North America operating income
increased to $76.7 million in the third quarter from $70.3 million in the prior year period due to the items discussed above.

Other operating loss increased to $17.7 million in the third quarter from $10.5 million in the prior year period due to the items
discussed above.

Other Expense (Income), Net

Other expense, net was $1.1 million for the third quarter compared to Other income, net of $4.0 million in the prior year period due
primarily to unrealized foreign exchange losses in the current year period compared to unrealized foreign exchange gains in the prior year period and a favorable insurance settlement received in prior year period.

Income Taxes

Income tax expense was
$13.9 million in the third quarter compared to income tax expense of $12.3 million in the prior year period. The effective tax rate for the third quarter was 26.7% compared to 26.7% in the prior year period.

The effective tax rate for the third quarter remained consistent with the effective tax rate in the comparable prior year period.

The effective