Primo Water Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported net sales of $82,207,000 compared to $35,504,000 a year ago. Income from operations was $10,551,000 compared to $2,950,000 a year ago. Income from continuing operations before income taxes was $5,398,000 compared to $2,473,000 a year ago. Income from continuing operations was $4,947,000 compared to $2,473,000 a year ago. Net income was $4,947,000 compared to $2,456,000 a year ago. Diluted earnings per common share were $0.14 compared to $0.08 a year ago. Diluted earnings per common share from continuing operations were $0.14 compared to $0.08 a year ago. EBITDA was $16,909,000 compared to $5,347,000 a year ago. Adjusted EBITDA was $18,025,000 compared to $6,710,000 a year ago. Adjusted net income from continuing operations was $6,417,000 or $0.19 per basic and diluted share compared to $3,796,000 or $0.13 per basic and diluted share a year ago.

For the nine months, the company reported net sales of $217,762,000 compared to $102,185,000 a year ago. Income from operations was $9,829,000 compared to $7,230,000 a year ago. Loss from continuing operations before income taxes was $8,568,000 compared to income of $5,794,000 a year ago. Loss from continuing operations was $9,391,000 compared to income of $5,794,000 a year ago. Net loss was $9,391,000 compared to income of $5,751,000 a year ago. Diluted loss per share was $0.28 compared to earnings of $0.19 a year ago. Diluted loss per common share from continuing operations were $0.28 compared to earnings of $0.19 a year ago. Net cash provided by operating activities was $10,650,000 compared to $11,295,000 a year ago. Purchases of property and equipment were $13,434,000 compared to $7,397,000 a year ago. Purchases of bottles, net of disposals was $2,120,000 compared to $1,933,000 a year ago. Additions to intangible assets were $113,000 compared to $49,000 a year ago. EBITDA was $26,180,000 compared to $14,455,000 a year ago. Adjusted EBITDA was $41,768,000 compared to $17,793,000 a year ago. Adjusted net income from continuing operations was $6,756,000 or $0.20 per basic and diluted share compared to $9,014,000 or $0.30 per diluted share a year ago.

The company raised earnings guidance for the full year of 2017. For the year, the company now expects sales in the range of $284.5 million to $288.5 million, an increase from prior guidance of $283.5 million to $287.5 million. The company now expects adjusted EBITDA in the range of $54.5 million to $55.8 million compared to prior guidance of $54.0 million to $55.5 million. The company expects a slight increase in CapEx for the year over original plan to address machine refurbishment and supplying additional exchange bottle flow related to the hurricanes.