Primo: Q1 Earnings Snapshot

TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Primo Water Corporation (PRMW) on Thursday reported first-quarter earnings of $25 million.

On a per-share basis, the Tampa, Florida-based company said it had profit of 16 cents. Earnings, adjusted for one-time gains and costs, were 19 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The maker of pure-play water solutions posted revenue of $452 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $438.8 million.

For the current quarter ending in June, Primo said it expects revenue in the range of $472 million to $482 million.

The company expects full-year revenue in the range of $1.86 billion to $1.89 billion.


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