New York, Feb 27, 2026, 08:59 EST — Premarket
- Shares of Primo Brands (PRMB) slipped 1.6% in premarket trading to $22.30, following a 15.4% jump at Thursday’s close.
- The company outlined 2026 targets, calling for organic net sales growth to land between 0% and 1%, with adjusted free cash flow pegged at $790 million to $810 million.
- Attention now shifts to how the direct-delivery service bounces back, along with the last phases of integration still ahead.
Primo Brands Corporation slid 1.6% to $22.30 before the bell Friday, down from Thursday’s $22.65 close.
Shares slipped, unwinding gains from the previous session. Investors had jumped in after management rolled out those 2026 targets and pointed to better service across the direct-delivery side.
Why is this front and center? Primo Brands hasn’t finished untangling the post-merger snags, and it’s that route-based delivery arm slowing things down. Management’s hoping for a bounceback in the second half of 2026. Until then, the early stretch looks like a patience game.
Primo Brands posted net sales of $1.554 billion for the fourth quarter, while logging a $25.3 million net loss from continuing operations, or 7 cents per share. Adjusted earnings landed at 26 cents per share. The company put adjusted EBITDA at $334.1 million, stripping out specific items.
CFO David Hass told analysts on the call that Primo Brands is looking at 0% to 1% organic net sales growth for 2026, with that improvement “weighted in the second half.” Adjusted EBITDA is projected between $1.485 billion and $1.515 billion, while adjusted free cash flow should land in the $790 million to $810 million range. Hass mentioned that one of the two remaining integration waves wrapped up “last weekend.” The board signed off on a $0.12 quarterly dividend, and there’s still about $107 million left under its $300 million buyback plan. Barclays’ Lauren Lieberman noted the free-cash-flow forecast “came in better than we were thinking,” per the transcript. Investing
Eric Foss, the chief executive, described 2025 as “a year of transition.” He pointed to “early signs” in the fourth quarter that the company’s initiatives are starting to turn things around. Still, he noted that work remains: the customer experience needs further improvement, and the company must “fully” tap into its brands and go-to-market system. Primo Brands
The company’s “adjusted” numbers don’t follow U.S. GAAP, and there’s no guarantee they line up with adjustments from peers. Still, traders pay close attention; management leans on these figures to tell their story on performance and cash flow.
The picture isn’t straightforward. Management pointed to a tougher start to the year and weather-related headwinds, while they’re also counting on solid delivery execution, integration tasks wrapping up on schedule, and stronger service metrics to hit guidance.
Now, investors are watching to see if service quality and customer momentum keep picking up as the integration wraps up later this quarter. The other question: can the direct-delivery business actually flip customer net additions into positive territory for the second quarter, as management said on the call.
