Primo Brands Q2 net sales up 3.8% to $1.8B; raises FY net sales growth outlook to 2-4%

Primo Brands Corp

Net sales $1,796.2M (+3.8% YoY); net income $69.2M ($0.19 diluted EPS) vs $30.5M ($0.08) prior year.
Adjusted EBITDA $385.0M (+5.0%), margin 21.4% (+20 bps); adjusted EPS $0.37 vs $0.36.
Raised full-year net sales growth outlook to 2-4% (from 1-3%); reaffirmed Adjusted EBITDA $1,465-$1,515M.
Adjusted free cash flow $200.1M vs $169.7M; net debt $4.9B, net leverage 3.42x.
CEO Eric Foss cited stronger fundamentals and momentum; growth in Retail and Direct Delivery.

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