Primo Water: 3Q Earnings Snapshot
WINSTON-SALEM, N.C. (AP) _ Primo Water Corp. (PRMW) on Tuesday reported third-quarter net income of $2.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Winston-Salem, North Carolina-based company said it had profit of 6 cents. Earnings, adjusted for one-time gains and costs, were 10 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The purified water provider posted revenue of $87 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $84.8 million.
For the current quarter ending in December, Primo Water said it expects revenue in the range of $75.7 million to $79.7 million.
The company expects full-year revenue in the range of $312 million to $316 million.
Primo Water shares have dropped 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.33, a decline of 28% in the last 12 months.