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Primo Water profit misses consensus by 22.9% in Q1

Primo Water Corp. said its first-quarter normalized net income came to $901,250, compared with a loss of $70,630 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 2.8% from negative 0.2% in the year-earlier period.

Total revenue rose 10.6% year over year to $32.3 million from $29.2 million, and total operating expenses grew 5.5% year over year to $30.4 million from $28.8 million.

Reported net income came to $1.2 million, or 4 cents per share, compared to a loss of $246,830, or a loss of 1 cents per share, in the prior-year period.