By Christopher Kuo
Primo Brands shares rose after the company raised its full-year outlook for organic net sales growth.
Shares for the bottled water company, which owns the Poland Spring brand, climbed 12% to $22.17. The company's shares were up nearly 37% year to date.
The company on Thursday raised its full-year outlook for organic net sales growth to up 1% to 3%, compared with previous guidance projecting flat to 1% growth.
Primo Brands posted a first-quarter profit of $27.3 million, or 7 cents a share, compared with $28.7 million, or 8 cents a share, in the year-ago quarter.
Adjusted earnings were 23 cents a share. Analysts polled by FactSet expected 24 cents a share.
The company incurred incremental costs from winter storms and freight and logistics costs, Primo Brands said.
First-quarter revenue ticked up $1.63 billion from $1.61 billion a year earlier, driven by an increase in sales from the company's premium brands, such as Saratoga and Mountain Valley. Analysts expected $1.58 billion.
The company plans to leverage the momentum behind its premium brands, Chief Executive Eric J. Foss said in an earnings call.
Write to Christopher Kuo at chris.kuo@wsj.com
(END) Dow Jones Newswires
May 07, 2026 15:03 ET (19:03 GMT)
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