Primo Brands beats third quarter 2026 estimates behind premium growth and new share buyback

Primo Brands Corporation reported third quarter 2026 results that exceeded analyst top and bottom-line expectations, primarily driven by strong momentum in its premium water portfolio. While net sales grew 3.1% year-over-year, the company provided a cautious update to its full-year outlook, guiding Adjusted EBITDA toward the lower end of its previous range due to persistent transportation cost pressures.

Key Highlights

• Net sales reached $1.82 billion, surpassing the $1.81 billion estimate, fueled by a 24.3% year-over-year increase in premium water revenue to $122.1 million.
• Adjusted diluted EPS of $0.43 beat the consensus estimate of $0.42, despite a 30-basis point contraction in Adjusted EBITDA margins to 22.6%.
• Management tightened 2026 full-year guidance, now projecting Adjusted EBITDA at the lower end of the $1.465 billion to $1.515 billion range while maintaining net sales growth at the midpoint.
• The Board authorized a new $300 million share repurchase program, significantly expanding capacity from the $41 million remaining under the previous plan.