Primo Brands Sees 2026 Adjusted EBITDA at Low End of Existing Range

Primo Brands projects roughly 3% comparable net sales growth for 2026 and adjusted EBITDA of about $1.465 billion, at the bottom of its existing range.

The sales outlook is near the midpoint of the company’s 2% to 4% range. Its adjusted EBITDA outlook is at the low end of the $1.465 billion to $1.515 billion range. The Nov. 5 update placed both expectations within those existing ranges.

Primo Brands raised its 2026 comparable sales growth range in August to 2% to 4% from 1% to 3%, while keeping its adjusted EBITDA range unchanged.

For the third quarter ended Sept. 30, net sales increased 3.1% to $1.821 billion from $1.766 billion a year earlier. Comparable sales rose 3.3%. Adjusted EBITDA grew 1.6% to $411 million from $404.5 million.

Chief Financial Officer David Hass said freight costs and spending on growth channels, including immediate consumption, were factors in the adjusted EBITDA outlook. The company’s comparable sales measure excludes its exited Eastern Canadian operations and U.S. Office Coffee Services business.