Filing Flows › Primo Brands (PRMB) › Q3 2026 › vs Q3 2025
Primo Brands (PRMB) Q3 2026 vs Q3 2025 (year over year)
Primo Brands's revenue rose $54.9M (+3%) from $1.8B in Q3 2025 to $1.8B in Q3 2026. The biggest changes: Regional spring water +$25.9M (+3%); Premium water +$23.9M (+24%); Purified water +$16.1M (+3%). Gross margin 30.4% against 29.9% (+0.5 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 30.4% | 29.9% | +0.5 pts |
| Operating margin | 13.7% | 8.3% | +5.4 pts |
| Net margin | 6.8% | 1.0% | +5.9 pts |
| Free cash flow margin | 11.8% | 9.5% | +2.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Regional spring water | $912M | $886M | $25.9M | +3% |
| Purified water | $574M | $558M | $16.1M | +3% |
| Other | $182M | $192M | −$9.8M | -5% |
| Premium water | $122M | $98.2M | $23.9M | +24% |
| Other water | $31.8M | $33.0M | −$1.2M | -4% |
| Revenue | $1.8B | $1.8B | $54.9M | +3% |
| Gross profit | $554M | $528M | $25.7M | +5% |
| Cost of revenue | $1.3B | $1.2B | $29.2M | +2% |
| Operating profit | $249M | $146M | $102M | +70% |
| Operating expenses | $305M | $382M | −$76.8M | -20% |
| Pre-tax earnings | $171M | $43.2M | $128M | +295% |
| Other expense, net | $78.2M | $103M | −$25.0M | -24% |
| Net earnings | $124M | $16.8M | $108M | +641% |
| Income tax | $46.2M | $26.4M | $19.8M | +75% |
| Depreciation & amortization | $146M | $163M | −$16.8M | -10% |
| Share-based compensation | $8.7M | $11.9M | −$3.2M | -27% |
| Working capital & other | $14.1M | $91.6M | −$77.5M | -85% |
| Operating cash flow | $294M | $283M | $10.2M | +4% |
| Free cash flow (OCF − capex) | $215M | $168M | $47.2M | +28% |
| Capital expenditures | $78.7M | $116M | −$37.0M | -32% |
Questions
How much did Primo Brands's revenue grow year over year in Q3 2026?
Primo Brands's revenue rose $54.9M (+3%) from $1.8B in Q3 2025 to $1.8B in Q3 2026.
What drove Primo Brands's revenue change in Q3 2026?
Regional spring water +$25.9M (+3%); Premium water +$23.9M (+24%); Purified water +$16.1M (+3%).