Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 106

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 106
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 30, 2023, due to volume growth. Operating income for the nine months ended September 30, 2024 was $411.7 million, an increase of $146.1 million compared to the nine months ended September 30, 2023, primarily as a result of higher sales at a gross margin improvement of 430 basis points, largely due to a $42.3 million reduction in freight costs. Operating income further benefited from a $9.4 million reduction in information technology costs and a $7.1 million reduction in marketing costs, when compared to the prior year. This improvement was partially offset by a $27.1 million increase in selling expenses, primarily labor-related costs. ReadyRefresh

|                    |     | Nine Months Ended September 30, 
 2024                            
 ($ in millions)                 |       |   |     | 2023 |       |   |     | $ Variance |      |     | % Change |     |   |
|:-------------------|:----|:--------------------------------|------:|:--|:----|:-----|------:|:--|:----|:-----------|-----:|:----|:---------|----:|:--|
| Net sales          |     | $                               | 888.5 |   |     | $    | 850.5 |   |     | $          | 38.0 |     |          | 4.5 | % |
| Operating income   |     |                                 |  91.0 |   |     |      |  86.9 |   |     |            |  4.1 |     |          | 4.7 | % |
| Operating margin % |     |                                 |  10.2 | % |     |      |  10.2 | % |     |            |      |     |          |     |   |

Net sales for the nine months ended September 30, 2024 were $888.5 million, an increase of $38.0 million, or 4.5%, as compared to the nine months ended September 30, 2023. This increase was primarily driven by effective pricing and mix improvement, and to a lesser extent, 1.6% volume growth during the current year period. Operating income for the nine months ended September 30, 2024 was $91.0 million, an increase of $4.1 million compared to the nine months ended September