Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 105

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 105
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 the prior year period.

Provision for Income Taxes

For the nine
months ended September 30, 2024, the provision for income taxes was $48.2 million, compared to $24.0 million for the nine months ended September 30, 2023. The majority of BlueTriton’s taxable income was generated in the
United States and taxed at an effective tax rate of 25.4% for the nine months ended September 30, 2024, driven by the United States activity taxed at a federal and state statutory rate of 24.9%.

Relative to the federal and state statutory rate, the 2023 effective tax rate was 22.9%, primarily impacted by discrete items in the prior
year period.

Net Income

Net income
for the nine months ended September 30, 2024 was $141.3 million, an improvement of $60.6 million as compared to the nine months ended September 30, 2023, due to the factors mentioned above.

65

Segment Results Retail

|                    |     | Nine Months Ended September 30, 
 2024                            
 ($ in millions)                 |         |   |     | 2023 |         |   |     | $ Variance |       |     | % Change |      |   |
|:-------------------|:----|:--------------------------------|--------:|:--|:----|:-----|--------:|:--|:----|:-----------|------:|:----|:---------|-----:|:--|
| Net sales          |     | $                               | 2,866.8 |   |     | $    | 2,762.2 |   |     | $          | 104.6 |     |          |  3.8 | % |
| Operating income   |     |                                 |   411.7 |   |     |      |   265.6 |   |     |            | 146.1 |     |          | 55.0 | % |
| Operating margin % |     |                                 |    14.4 | % |     |      |     9.6 | % |     |            |       |     |          |      |   |

Net sales for the nine months ended September 30, 2024 were $2,866.8 million, an increase of $104.6 million, or 3.8%, as compared to the nine months ended September