BOCA RATON, Fla., Dec. 05, 2025 (GLOBE NEWSWIRE) -- Saxena White P.A. has filed a securities class action lawsuit (the “Class Action”) in the United States District Court for the Middle District of Florida against Primo Brands Corporation (“Primo Brands” or the “Company”) (NYSE: PRMB), certain Primo Brands executive officers and directors, and the underwriters for Primo Brands’ March 2025 secondary public offering (“SPO”) (collectively, “Defendants”). The Class Action asserts claims under Sections 10(b) and ...

Core Viewpoint - Primo Brands Corporation has authorized an increase of $50 million to its existing share repurchase program, raising the total authorization to $300 million [1][2]. Share Repurchase Program - The company has previously repurchased approximately 4.4 million shares of Class A common stock for about $97.7 million, leaving approximately $202.3 million of capacity under the repurchase program after the increase [2][3]. - The repurchase may occur through various methods including open market purchases, block trades, and privately negotiated transactions, with management having discretion over the timing and amount based on market conditions [3]. Company Overview - Primo Brands is a leading North American branded beverage company focused on healthy hydration, offering a diverse range of products distributed across the U.S. and Canada [4]. - The company has a comprehensive portfolio that includes well-known brands such as Poland Spring® and Pure Life®, as well as premium and regional offerings [4]. - Primo Brands operates a vertically integrated distribution network reaching over 200,000 retail outlets and provides direct delivery services to homes and businesses [4]. - The company emphasizes sustainability through reusable packaging and actively manages water resources, conserving over 28,000 acres of land [4].

Core Insights - Primo Brands Corporation reported strong financial results for Q3 2025, with net sales increasing by 35.3% to $1,766.1 million compared to $1,305.1 million in Q3 2024, driven by growth in premium water brands and successful execution of delivery networks [7][11] - The company appointed Eric Foss as Chairman and CEO, indicating a leadership transition aimed at enhancing operational excellence and customer service [1][10] - Adjusted EBITDA rose by 53.2% to $404.5 million, with an adjusted EBITDA margin of 22.9%, reflecting improved operational efficiency [7][11] Financial Performance - Net income from continuing operations decreased to $40.5 million, or $0.11 per diluted share, down from $53.3 million and $0.24 per diluted share in the prior year [7][11] - Adjusted net income increased to $155.0 million, or $0.41 per diluted share, compared to $76.9 million and $0.35 per diluted share in Q3 2024 [7][11] - The company generated $283.4 million in net cash from operating activities, resulting in $150.7 million of free cash flow and $311.1 million of adjusted free cash flow [7][11] Dividend Announcement - The Board of Directors declared a quarterly dividend of $0.10 per share, payable on December 5, 2025, to shareholders of record as of November 25, 2025 [8] Strategic Focus - The company is focused on achieving cost synergies of $200 million in 2025 and $300 million in 2026, following the merger with Blue Triton Brands [10] - Primo Brands continues to expand its distribution network and enhance its product offerings, particularly in the premium water segment [2][10]

Core Insights - Primo Brands Corporation (NYSE:PRMB) is identified as a stock with significant upside potential, favored by billionaire Daniel Sundheim [1] - Recent price target revisions by analysts reflect mixed sentiment, with Mizuho lowering its target from $40 to $35 while maintaining an Outperform rating [1][2] - Jefferies initiated coverage with a Hold rating and a $23 price target, highlighting concerns about integration complexity affecting near-term visibility [2] - BofA Securities reduced its price target from $32 to $26 but reaffirmed a Buy rating, indicating confidence in Primo's core business despite lowered Q3 revenue and earnings projections [3] Company Overview - Primo Brands Corporation is a North American beverage company specializing in healthy hydration, distributing a wide range of bottled water brands through retail and home delivery channels [4] - The company owns notable brands such as Poland Spring, Pure Life, Mountain Valley, and Saratoga, offering products that include spring, sparkling, and purified water [4]

Fund Performance - Baron Discovery Fund reported a year-to-date return of 10.75% for Institutional Shares, underperforming the Russell 2000 Growth Index which returned 11.65% [1] - In the third quarter, the fund gained 2.85%, significantly lagging behind the Index's return of 12.19% [1] Company Highlight: Primo Brands Corporation - Baron Discovery Fund established a new position in Primo Brands Corporation, a branded beverage company known for its leading bottled spring water brands and the largest home and office water delivery service in the U.S. [3] - Primo Brands Corporation's stock experienced a one-month return of -2.41% and a 52-week decline of 18.03%, closing at $21.50 per share with a market capitalization of $8.031 billion on October 29, 2025 [2][3] - The company was formed through the combination of Primo Water and Blue Triton Brands in November 2024 and is fully vertically integrated, managing the entire process from water supply to distribution [3] - Primo Brands markets 13 different brands, including 7 that are over 100 years old and 4 dating back to the 1800s, along with high-growth premium brands like Saratoga and Mountain Valley Springs [3]

Core Viewpoint - Primo Brands Corporation will release its third quarter financial results on November 6, 2025, before market opening [1] Group 1: Financial Results Announcement - The financial results for the third quarter ended September 30, 2025, will be announced before the markets open on November 6, 2025 [1] - A conference call will be held on the same day at 10:00 a.m. ET, which will include a question-and-answer session following the management's presentation [2] - The conference call can be accessed via North America dial-in at (888) 510-2154 and international dial-in at (437) 900-0527, with a conference ID of 27654 [2] Group 2: Company Overview - Primo Brands is a leading North American branded beverage company focused on healthy hydration, offering a diverse range of products across various channels and consumer occasions [4] - The company has a comprehensive portfolio that includes well-known brands such as Poland Spring® and Pure Life®, as well as premium and regional brands [4] - Primo Brands operates a vertically integrated distribution network, reaching over 200,000 retail outlets and providing direct delivery services to homes and businesses [4]

Company Overview - Primo Brands is a branded beverage company and holds the position of the third largest in nonalcoholic beverage volume share in the U.S. [3] - The company boasts a portfolio of 7 brands that are over 100 years old, including notable names like Poland Spring, Saratoga, and Mountain Valley, with origins dating back to the 1820s and 1870s [3] Business Model - Approximately 45% of Primo Brands' business is in direct delivery, primarily focusing on a 5-gallon format [3] - The company offers products in both PET and glass formats, with Mountain Valley being marketed as a premium brand available in glass [3]