Primo Brands Corporation today announced its financial results for the full year and fourth quarter ended December 31, 2024. The company reported Q4 2024 Combined Net Sales of $1.609 billion, an increase of 5.5% from the prior-year period, primarily driven by volume gains of 4.4%. Full-year 2024 Combined Net Sales reached $6.810 billion, up 5.4% from the year-ago period, with volume gains of 3.4%.
Profitability also saw growth, with Q4 2024 Combined Adjusted EBITDA increasing 3.7% to $301.4 million, resulting in a Combined Adjusted EBITDA margin of 18.7%. For the full year 2024, Combined Adjusted EBITDA was $1.353 billion, a 19.5% increase, with a margin of 19.9%. The company reported a net loss from continuing operations of $153.9 million for Q4 2024 and $12.6 million for the full year 2024.
Management increased its estimated cost synergy opportunity by $100 million, now targeting $300 million in total by year-end 2026, with $200 million anticipated in 2025. Primo Brands reaffirmed its full-year 2025 guidance, expecting comparable net sales growth between 3% and 5%, Adjusted EBITDA between $1.6 billion and $1.628 billion, and Adjusted Free Cash Flow between $790 million and $810 million. The Board of Directors also declared a quarterly dividend of $0.10 per share.
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