Filing Flows › Primo Brands (PRMB) › Q3 2026 › vs Q2 2026
Primo Brands (PRMB) Q3 2026 vs Q2 2026 (quarter over quarter)
Primo Brands's revenue rose $24.8M (+1%) from $1.8B in Q2 2026 to $1.8B in Q3 2026. The biggest changes: Purified water +$17.5M (+3%); Premium water +$7.9M (+7%); Other −$1.1M (-0.6%). Gross margin 30.4% against 30.5% (-0.1 pts).
Primo Brands, Q3 2026: revenue $1.8B (+3% year over year), operating margin 13.7%, net earnings $124M, operating cash flow $294M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 30.4% | 30.5% | -0.1 pts |
| Operating margin | 13.7% | 10.0% | +3.6 pts |
| Net margin | 6.8% | 3.9% | +3.0 pts |
| Free cash flow margin | 11.8% | 7.9% | +3.9 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Regional spring water | $912M | $911M | $500K | +0.1% |
| Purified water | $574M | $556M | $17.5M | +3% |
| Other | $182M | $183M | −$1.1M | -0.6% |
| Premium water | $122M | $114M | $7.9M | +7% |
| Other water | $31.8M | $31.8M | $0 | 0% |
| Revenue | $1.8B | $1.8B | $24.8M | +1% |
| Gross profit | $554M | $549M | $5.2M | +0.9% |
| Cost of revenue | $1.3B | $1.2B | $19.6M | +2% |
| Operating profit | $249M | $180M | $68.6M | +38% |
| Operating expenses | $305M | $368M | −$63.4M | -17% |
| Pre-tax earnings | $171M | $97.1M | $73.6M | +76% |
| Other expense, net | $78.2M | $83.2M | −$5.0M | -6% |
| Net earnings | $124M | $69.2M | $55.3M | +80% |
| Income tax | $46.2M | $27.9M | $18.3M | +66% |
| Depreciation & amortization | $146M | $142M | $4.1M | +3% |
| Share-based compensation | $8.7M | $11.1M | −$2.4M | -22% |
| Working capital & other | $14.1M | $5.4M | $8.7M | +161% |
| Operating cash flow | $294M | $228M | $65.7M | +29% |
| Free cash flow (OCF − capex) | $215M | $142M | $72.5M | +51% |
| Capital expenditures | $78.7M | $85.5M | −$6.8M | -8% |
Questions
How much did Primo Brands's revenue grow quarter over quarter in Q3 2026?
Primo Brands's revenue rose $24.8M (+1%) from $1.8B in Q2 2026 to $1.8B in Q3 2026.
What drove Primo Brands's revenue change in Q3 2026?
Purified water +$17.5M (+3%); Premium water +$7.9M (+7%); Other −$1.1M (-0.6%).