By Exec Edge Editorial Staff
Primo Water Corp. (NYSE: PRMW), which provides drinking water in North America and Europe, said third quarter revenue climbed on demand for water dispensers and deliveries.
Revenue increased 6% to $585 million in the quarter, the company said in a statement. This was helped by a a 17% revenue climb in Water Direct / Water Exchange, 11% in Water Refill / Water Filtration, and 47% in Water Dispensers.
Primo increased its full year 2022 revenue target to between $2.222 billion to $2.242 billion.
“Our investment thesis remains intact with a portfolio of leading water solutions across multiple channels and geographies, strong consumer tailwinds, and a compelling financial profile,” said CEO Tom Harrington. “The continued investment in our digital platforms, increased connectivity of dispenser sales to our water solutions, and continued optimization of our route-based operations provides a strong foundation to achieve our long-term growth targets.”