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Primo Water Corp - Stock Quote PRMW

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Morningstar's Primo Water Corp Stock Analysis

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Primo Water Should Benefit From Its On-Trend Product Portfolio, but Competition Is Rife

Zain Akbari, CFA Equity Analyst

Business Strategy and Outlook

| Zain Akbari, CFA |

Formerly known as Cott, Primo has cycled through multiple iterations over the past decade, going from a private-label manufacturer of ambient beverages, or those that can be stored at room temperature, in 2010 to an all-things-water business in 2020. Nevertheless, the current entity combines the heft of Cott’s former water subsidiaries with the legacy Primo business, and as a pure-play water provider, we expect a more robust top-line trajectory and a structurally improved margin profile.

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Primo Water Corp's Company Profile

Business Description

Primo Water is a pure-play water provider that is the product of the March 2020 acquisition of the legacy Primo business by Cott. The firm’s water solutions ecosystem is anchored by an assortment of water dispensers and its water direct business. In the latter, it receives recurring revenue for delivering large-format (3- and 5-gallon) water bottles to residential and commercial customers for use in the dispensers. Supplementary offerings include water exchange, where consumers can exchange or purchase prefilled containers at retail, and water refill, where consumers have access to the network of self-service refill units that Primo manages. Most sales are generated in North America, with the remainder primarily in Europe and Israel.

4221 West Boy Scout Boulevard, Suite 400
Tampa, FL, 33607
T +1 813 313-1732
Sector Consumer Defensive
Industry Beverages - Non-Alcoholic
Most Recent Earnings Mar 31, 2022
Fiscal Year End Jan 1, 2022
Stock Type
Employees 9,230