Primo Water (NASDAQ: PRMW) reported Q4 EPS of $0.14, $0.03 better than the analyst estimate of $0.11. Revenue for the quarter came in at $505 million versus the consensus estimate of $488.9 million.

FOURTH QUARTER HIGHLIGHTS

• Revenue increased 15% to $505 million compared to $440 million.
• Gross profit increased 8% to $282 million compared to $260 million.
• Reported net loss and net loss per diluted share were $20 million and $0.12, respectively, compared to reported net income and net income per diluted share of $2 million and $0.01, respectively. Adjusted net income and adjusted net income per diluted share were $23 million and $0.14, respectively, compared to adjusted net income and adjusted net income per diluted share of $17 million and $0.13, respectively.
• Adjusted EBITDA increased 36% to $98 million compared to $72 million and adjusted EBITDA margin increased by 300 basis points to 19.4%.

"I am very pleased with our fourth quarter results, despite a difficult operating environment and increased lockdown measures in many of the geographies we serve," said Tom Harrington, Primo's Chief Executive Officer. "We closed the year with another quarter of strong adjusted EBITDA and higher adjusted EBITDA margin, and we are carrying that momentum into 2021 as a more streamlined and profitable company with our pure-play water model. I am confident that the continued demand for our products and services, coupled with the progress we made against our key initiatives throughout 2020, will enable us to build upon these results in 2021."

GUIDANCE:

Primo Water sees Q1 2021 revenue of $455-485 million, versus the consensus of $474.4 million.

For earnings history and earnings-related data on Primo Water (PRMW) click here.