Company: PRMB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0002042694-25-000015
Chunk: 106

Company: Primo Brands Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 106
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 decrease in cash, cash equivalents and restricted cash$(40.9)$(15.0)$(208.3)$(28.9)Cash and cash equivalents and restricted cash, beginning of period453.333.1620.747.0Cash and cash equivalents and restricted cash, end of period$412.4$18.1$412.4$18.1Cash and cash equivalents and restricted cash of discontinued operations, end of period0.4 — 0.4 — Cash and cash equivalents and restricted cash of continuing operations, end of period$412.0 $18.1 $412.0 $18.1 

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024

Net cash provided by operating activities of continuing operations was $193.8 million for the six months ended June 30, 2025 as compared to $108.5 million for the six months ended June 30, 2024. The $85.3 million increase was due primarily to improved earnings, excluding non-cash charges partially offset by a decrease in cash received for trade payables and accrued liabilities of $27.5 million as well as an increase in cash used by other current assets of $14.0 million and inventories of $20.8 million.

Net cash used in investing activities of continuing operations was $73.8 million for the six months ended June 30, 2025, compared to $89.3 million for the six months ended June 30, 2024. The improvement of $15.5 million is primarily due to $56.9 million of proceeds received from the sale of the production facility in Ontario, Canada and assets sold related to our coffee business, partially offset by increased capital expenditures.

Net cash used in financing activities of continuing operations for the six months ended June 30, 2025 was $334.8 million, compared to $47.7 million for the six months ended June 30, 2024. The $287.1 million increase was due primarily to common stock repurchased and cancelled of $221.0 million and the payment of dividends to holders of our common stock of $76.0 million in the current year as well as the addition of the $400 million 2024 Incremental Term Loan in March 2024 and $25.0 million in borrowings not recurring in the current year, partially offset by the dividend to the Sponsor Stockholder