Primo Brands Posts Narrower Loss From Cont. Ops. In Q4

(RTTNews) - Primo Brands (PRMB) reported that its fourth quarter net loss from continuing operations was $25.3 million compared to a loss of $153.9 million, prior year. Net loss per share from continuing operations was $0.07 compared to a loss of $0.49. Adjusted net income increased to $94.1 million from $39.6 million. Adjusted net income per share was $0.26 compared to $0.13. Fourth quarter net sales were $1.55 billion compared to $1.40 billion, previous year.

"We will continue to strategically reinvest in the business to take advantage of strong category momentum and our well-positioned brand portfolio to better service and execute, setting the company up to drive sustained growth, margin expansion, free cash flow generation and long-term value for shareholders," said said Eric Foss, CEO.

In pre-market trading on NYSE, Primo Brands shares are up 7.49 percent to $21.10.

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