The following is a summary of the Primo Water Corporation (PRMW) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Primo Water Corporation reported Q3 2024 revenue of $511 million, a growth of 8.8% driven by both volume and pricing.

• The company achieved an Adjusted EBITDA of $125 million, up 11.4% compared to the previous year.

• Adjusted EBITDA margin improved to 24.4%, representing a 60 basis point increase from last year.

Business Progress:

• Primo Water's merger with BlueTriton was approved, leading to the creation of Primo Brands Corporation.

• Strong performance is noted particularly in products like the single-serve 16-ounce aluminum bottles and growth in the Mountain Valley brand, driven by its expansion in retail locations like Whole Foods.

• Implemented enhancements, including MyWaterPlus app in Spanish and expanded customer service via increased availability on chat functionality.

Opportunities:

• The merger with BlueTriton Brands is expected to drive market expansion and operational efficiencies, with an estimated minimum of $200 million in cost synergies within three years, leveraging a diversified brand portfolio.

• Growth potential in Mountain Valley brand, particularly in large format retailers and an expansion into new geographies.

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