Company: PRMB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049952
Chunk: 94

Company: Primo Brands Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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36.1%, as compared to the nine months ended September 30, 2024, primarily related to $1,381.9 million of net sales attributable to Primo Water as a result of the Transaction and to a lesser extent, $37.8 million attributable to BlueTriton Brands due primarily to increased volumes, partially offset by $65.1 million in volumes attributable to nonrecurring sales as a result of the sale of the production facility in Ontario, Canada that was completed during the first quarter of 2025.

Cost of Sales

During the nine months ended September 30, 2025, cost of sales was $3,519.8 million, an increase of $956.0 million, or 37.3%, as compared to the nine months ended September 30, 2024. The increase in costs is primarily driven by $975.1 million of cost of sales attributable to Primo Water as a result of the Transaction.

Gross Profit and Gross Margin

During the nine months ended September 30, 2025, gross profit was $1,590.1 million, an increase of $398.6 million, or 33.5%, as compared to the nine months ended September 30, 2024, and gross margin as a percentage of net sales was 31.1%, as compared to 31.7% during the nine months ended September 30, 2024, primarily driven by $406.8 million of gross profit 

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attributable to Primo Water as a result of the Transaction.

Selling, General and Administrative Expenses

During the nine months ended September 30, 2025, selling, general and administrative expenses were $1,049.4 million, an increase of $334.7 million, or 46.8%, as compared to the nine months ended September 30, 2024, primarily due to $363.3 million of costs attributable to Primo Water as a result of the Transaction, partially offset by $18.6 million of nonrecurring management fees incurred in the prior year period.

Acquisition, Integration and Restructuring Expenses

During the nine months ended September 30, 2025, acquisition, integration and restructuring expenses were $133.7 million, an increase of $104.7 million, as compared to the nine months ended September 30, 2024, primarily due to costs related to the Transaction, consisting primarily of consulting fees, employee related costs