Primo Brands Corporation Class A (PRMB) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Welcome to the Primo Brands 2025 Fourth Quarter and Full Year Earnings Conference Call. I will now turn the call over to Tracy Mangini, Vice President, Investor Relations. Thank you, Operator, and hello, everyone. With me on the call today are Eric Foss, Chairman and Chief Executive Officer, and David Haas, Chief Financial Officer. Our discussion today includes forward-looking statements within the meaning of U.S. securities laws, which are subject to risks and uncertainties, that may cause actual results to differ materially. For more information, please refer to the forward-looking statements disclosure in our earnings release. In addition, the definitions of an applicable reconciliations for any non-US GAAP measures are included in our earnings release and supplemental earnings slides, which were made available today on the investor relations section of our website. With that, I'll pass it over to you, Eric. Thanks, Tracy. Good morning. and thank you all for joining us today. To set the framework for today's discussion, I'll start with a high-level review of our fourth quarter and 2025 results, take you through our progress on our direct delivery, customer experience, and our 2026 growth and capital allocation priorities, and David will then take you through the details of our quarterly and annual performance, as well as our 2026 guidance. We're encouraged by our performance as we finished the year and how that positions us into 2026. In the fourth quarter, we delivered net sales of $1.554 billion, a decrease of 2.5% on a comparable basis from prior year, which included an improved pace of recovery for our direct delivery business. At the same time, we built on the strength of our well-known brands ...