Primo Brands (PRMB) Q4 FY2024 earnings: revenue $2.7 billion

Primo Brands Corp. (PRMB) reported revenue of $2.7 billion for Q4 FY2024, the quarter ended 31 December 2024. Net income was -$104 million, and diluted earnings per share $-0.50. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue$2.7 billion

Net income-$104 million

Diluted EPS$-0.50

QuarterQ4 FY2024ended 31 December 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Revenue	2,702	0.0	n/a	n/a
Cost of revenue	1,856	0.0	n/a	n/a
Gross profit	846	0.0	n/a	n/a
Gross margin	31.3%	n/a	n/a
Selling, general and administrative	336	240	n/a	n/a
Operating income	76.5	0.0	n/a	n/a
Operating margin	2.8%	n/a	n/a
Interest expense	174	0.0	n/a	n/a
Pre-tax income	-97.0	0.0	n/a	n/a
Income tax	3.6	0.0	n/a	n/a
Net income	-104	0.0	n/a	n/a
Net margin	-3.9%	n/a	n/a
Diluted EPS	-$0.50	$0.00	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Operating cash flow	n/a	0.0	n/a	n/a
Capital expenditure	53.3	32.3	n/a	n/a
Free cash flow	n/a	-32.3	n/a	n/a
Cash from investing	n/a	0.0	n/a	n/a
Cash from financing	n/a	0.0	n/a	n/a
Depreciation and amortisation	106	77.8	n/a	n/a
Share-based compensation	7.8	0.3	n/a	n/a
Buybacks	10.4	0.0	n/a	n/a
Dividends paid	35.7	0.0	n/a	n/a
Diluted shares, weighted	n/a	100	n/a	n/a
Shares outstanding at period end	380m	100	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Shareholders' equity	3,444	-0.0	n/a	n/a
Debt	5,042	n/a	n/a	n/a
Operating lease liabilities	556	n/a	n/a	n/a
Finance lease liabilities	72.8	n/a	n/a	n/a
Other liabilities	2,080	0.0	n/a	n/a
Total liabilities and equity	11,194	0.0	n/a	n/a
Goodwill	3,572	n/a	n/a	n/a
Intangible assets	3,192	n/a	n/a	n/a
Cash and equivalents	614	0.0	n/a	n/a
Receivables	444	n/a	n/a	n/a
Inventory	208	n/a	n/a	n/a
Other assets	3,164	0.0	n/a	n/a
Total assets	11,194	0.0	n/a	n/a

Questions

What was Primo Brands' revenue in Q4 FY2024?

Primo Brands (PRMB) reported revenue of $2.7 billion for Q4 FY2024, the quarter ended 31 December 2024.

How much did Primo Brands earn in Q4 FY2024?

Net loss for Q4 FY2024 was $104 million, and the diluted loss per share $0.50.

When did Primo Brands report Q4 FY2024 results?

Primo Brands filed its 10-K for the year that ended with the quarter on 27 February 2025; the fourth quarter is the year less the first three.

Quarterly results, the last 10 quarters

	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,136	1,314	0.0	2,702	1,614	1,730	1,766	1,554	1,626	1,796
Cost of revenue	790	885	0.0	1,856	1,093	1,189	1,238	1,124	1,161	1,248
Gross profit	346	430	0.0	846	521	541	528	430	465	549
Gross margin	30%	33%	n/a	31%	32%	31%	30%	28%	29%	31%
SG&A	219	256	240	336	328	379	343	341	337	346
Operating income	125	159	0.0	76.5	153	113	146	18.0	138	180
Operating margin	11%	12%	n/a	3%	9%	7%	8%	1%	8%	10%
Interest expense	79.9	86.2	0.0	174	82.1	81.9	83.1	79.4	78.3	81.3
Pre-tax income	44.9	72.8	0.0	-97.0	52.4	46.8	66.9	-21.1	40.8	97.1
Tax rate	25%	25%	n/a	n/a	34%	35%	39%	n/a	33%	29%
Net income	33.5	54.5	0.0	-104	28.7	27.6	16.8	-13.0	27.3	69.2
Net margin	3%	4%	n/a	-4%	2%	2%	1%	-1%	2%	4%
Diluted EPS	$0.15	$0.25	$0.00	-$0.50	$0.08	$0.07	$0.04	-$0.04	$0.07	$0.19
Operating cash flow	n/a	n/a	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital expenditure	23.5	41.1	32.3	53.3	62.0	53.9	116	146	104	85.5
Free cash flow	n/a	n/a	-32.3	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Buybacks	0.0	0.0	0.0	10.4	119	102	75.8	125	32.2	15.6
Dividends paid	0.0	0.0	0.0	35.7	38.6	37.4	37.2	38.1	44.2	43.5
Shares outstanding	376m	374m	100	380m	376m	373m	371m	364m	363m	362m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2024, filed 27 February 2025: the filing.