Primo Water: 2Q Earnings Snapshot
WINSTON-SALEM, N.C. (AP) _ Primo Water Corp. (PRMW) on Tuesday reported second-quarter net income of $451,000, after reporting a loss in the same period a year earlier.
The Winston-Salem, North Carolina-based company said it had net income of 1 cent per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 12 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The purified water provider posted revenue of $75.8 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $73 million.
Primo Water expects full-year revenue in the range of $305 million to $309 million.
Primo Water shares have risen 39 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.43, a climb of 47 percent in the last 12 months.