08:50 AM EST, 11/07/2024 (MT Newswires) -- Primo Water ( PRMW ) , a provider of sustainable drinking water solutions in North America, was at last look up more than 2% in US premarket trade on Thursday as it reported increased earnings for the third quarter, on higher revenues. The company expects to close a merger transaction with BlueTriton Brands on November 8, 2024.

The company reported adjusted net income from continuing operations of US$56.4 million, or $0.35 per share, up from $38.8 million or $0.24 a year earlier. The consensus mean forecast at Capital IQ was $0.30.

It reported net income of $38.2 million, or $0.24 per diluted share, up from near $34 million, or $0.21 per share, a year earlier. It met the Capital IQ forecast on this measure.

Revenue for the quarter ended Sept. 28 was $511.4 million, an 8.8% increase from $470.0 million a year earlier, driven by a 7.4% contribution from organic growth.

The company said it expects to close its merger with BlueTriton Brands on or about Friday. The combined entity, Primo Brands Corporation, will trade on the New York Stock Exchange under the ticker "PRMB" starting Nov. 11.

"Once again, we had a fantastic quarter, exceeding revenue and volume expectations across our core water channels. Revenue growth was driven by both volume and pricing, leading to earnings growth and margin expansion across our business. Our focus on the 'must-wins' of delivering exceptional customer service, being the water solutions partner of choice, and providing operational excellence continues to drive growth and creates value for our stakeholders," said CEO Robbert Rietbroek.