Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 201

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 201
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994.6$783.6$476.6

47

Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023

Consolidated Results

The following table sets forth our consolidated statements of operations data for the periods indicated:

For the Years Ended December 31,($ in millions)2024% of Net Sales2023% of Net Sales$ Variance% ChangeNet sales$5,152.5 100.0%$4,698.7 100.0%$453.89.7%Cost of sales3,530.9 68.5%3,346.7 71.2%184.25.5%Gross profit1,621.6 31.5%1,352.0 28.8%269.619.9%Selling, general and administrative expenses1,050.6 20.4%924.2 19.7%126.413.7%Acquisition, integration and restructuring expenses204.1 4.0%16.9 0.4%187.21107.7%Other operating expense, net6.6 0.1%4.9 0.1%1.734.7%Operating income360.3 7.0%406.0 8.6%(45.7)(11.3)%Interest and financing expense, net339.6 6.6%288.1 6.1%51.517.9%Income from continuing operations before income taxes20.7 0.4%117.9 2.5%(97.2)(82.4)%Provision for income taxes33.3 0.6%25.1 0.5%8.232.7%Net (loss) income from continuing operations$(12.6)(0.2)%$92.8 2.0%$(105.4)(113.6)%

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

For the Years Ended December 31,($ in millions)2024% of Net Sales2023% of Net Sales$ Variance% ChangeRegional spring water$3,234.5 62.8 %$3,146.1 67.0 %$88.4 2.8 %Purified water1,348.7 26.2 %1,133.6 24.