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Primo Water profit misses consensus by 27.2% in Q3

Primo Water Corp. said its normalized net income for the third quarter came to 7 cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.

EPS climbed 74.7% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.1 million, a gain of 97.8% from $1.0 million in the year-earlier period.

The normalized profit margin climbed to 5.8% from 3.1% in the year-earlier period.

Total revenue grew year over year to $35.5 million from $33.9 million, and total operating expenses came to $31.7 million, compared with $31.7 million in the year-earlier period.

Reported net income rose 81.2% on an annual basis to $2.4 million, or 8 cents per share, from $1.3 million, or 5 cents per share.