Company: PRMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0002042694-25-000007
Chunk: 172

Company: Primo Brands Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 172
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 %124.811.0 %28.422.8 %Other expense, net0.1— %—— %0.1100%Loss on modification and extinguishment of debt18.61.2 %—— %18.6100%Interest and financing expense, net82.15.1 %79.97.0 %2.22.8 %Income from continuing operations before income taxes52.43.2 %44.94.0 %7.516.7 %Provision for income taxes17.71.1 %11.41.0 %6.355.3 %Net income from continuing operations$34.72.2 %$33.52.9 %$1.23.6 %

The following table sets forth our consolidated Net sales by water type:

Three Months Ended March 31,($ in millions)20252024$ Variance% ChangeRegional spring water$794.1 $756.1 $38.0 5.0 %Purified water514.4 275.4 239.0 86.8 %Premium water73.9 13.4 60.5 451.5 %Other water34.8 28.9 5.9 20.4 %Other196.5 62.0 134.5 216.9 %Total Net sales$1,613.7 $1,135.8 $477.9 42.1 %

Net Sales

During three months ended March 31, 2025, net sales were $1,613.7 million, an increase of $477.9 million, or 42.1%, as compared to the three months ended March 31, 2024, primarily related to $470.3 million of net sales attributable to Primo Water as a result of the Transaction.

Cost of Sales

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

During the three months ended March 31, 2025, cost of sales was $1,092.7 million, an increase of $302.4 million, or 38.3%, as compared to the three months ended March 31,