Primo: Q4 Earnings Snapshot

TAMPA, Fla. (AP) — TAMPA, Fla. (AP) — Primo Water Corporation (PRMW) on Thursday reported fourth-quarter net income of $57.5 million.

On a per-share basis, the Tampa, Florida-based company said it had net income of 36 cents. Earnings, adjusted for one-time gains and costs, were 16 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The maker of pure-play water solutions posted revenue of $533 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $547.7 million.

For the year, the company reported profit of $29.6 million, or 18 cents per share. Revenue was reported as $2.22 billion.

For the current quarter ending in March, Primo said it expects revenue in the range of $520 million to $540 million.

The company expects full-year revenue in the range of $2.3 billion to $2.35 billion.


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