Primo Brands Corp reports results for the quarter ended June 30 - Earnings Summary

• Primo Brands Corp PRMB.N reported quarterly adjusted earnings of 36 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 26 cents. The mean expectation of twelve analysts for the quarter was for earnings of 42 cents per share. Wall Street expected results to range from 37 cents to 47 cents per share.

• Revenue rose 256.7% to $1.73 billion from a year ago; analysts expected $1.81 billion.

• Primo Brands Corp's reported EPS for the quarter was 7 cents​.

• The company reported quarterly net income of $27.6 million.

• Primo Brands Corp shares had fallen by 10.8% this quarter and lost 14.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 3.5% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the non-alcoholic beverages peer group is also "buy"

• Wall Street's median 12-month price target for Primo Brands Corp is $41.00, about 35.6% above its last closing price of $26.41

This summary was machine generated from LSEG data August 7 at 04:41 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)