Primo Brands Q4 Loss Widens, Misses Estimates
TAMPA, Fla. (AP) - Primo Brands Corporation (PRMB) reported a net loss of $157.7 million in its fourth quarter, wider than the previous year's loss.
On a per-share basis, the Tampa-based company posted a loss of 50 cents. Excluding one-time items, adjusted earnings came in at 13 cents per share, below Wall Street expectations.
Analysts polled by Zacks Investment Research had forecast earnings of 19 cents per share. Revenue for the quarter was $1.4 billion, also falling short of estimates. Three analysts surveyed by Zacks expected revenue of $1.59 billion.
For the full year, Primo Brands reported a net loss of $16.4 million, or 7 cents per share, on revenue of $5.15 billion.