Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 96

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 96
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 $14.9 million increase in marketing expenses. ReadyRefresh

|                    |     | Three Months Ended September 30, 
 2024                             
 ($ in millions)                  |       |   |     | 2023 |       |   |     | $ Variance |      |   |     | % Change |       |    |
|:-------------------|:----|:---------------------------------|------:|:--|:----|:-----|------:|:--|:----|:-----------|-----:|:--|:----|:---------|------:|:---|
| Net sales          |     | $                                | 317.4 |   |     | $    | 305.0 |   |     | $          | 12.4 |   |     |          |   4.1 | %  |
| Operating income   |     |                                  |  35.8 |   |     |      |  41.7 |   |     |            | (5.9 | ) |     |          | (14.1 | )% |
| Operating margin % |     |                                  |  11.3 | % |     |      |  13.7 | % |     |            |      |   |     |          |       |    |

Net sales for the three months ended September 30, 2024 were $317.4 million, an increase of $12.4 million, or 4.1%, as compared to the three months ended September 30, 2023, primarily driven by a near equal impact of effective pricing and mix, and a 2.3% volume improvement. 62

Operating income for the three months ended September 30, 2024 was $35.8 million, a decrease of $5.9 million compared to the three months ended September 30, 2023, primarily as a result of labor-related delivery costs and marketing expenses, which rose $7.3 million and $3.0 million, respectively, partially offset by improved pricing and mix and a $4.1 million reduction in broker commissions. Nine Months Ended September 30, 2024 Compared to Nine Months Ended September 30, 2023 The following table sets forth a summary of BlueTriton’s operations for the periods indicated (in millions):

|                                                     |     | Nine Months Ended September 30, |    2024 |   |     |   |