RICHMOND, Va., Sept. 25, 2024 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO) today announced a long-term ATM managed services agreement with Sainsbury’s. Under the terms of the deal, NoteMachine, a Brink’s Company, will assume ownership and management of Sainsbury’s ATM business, which includes around 1,370 ATMs positioned in retail stores across the United Kingdom. The ATM network will be fully managed by NoteMachine, incorporating the full range of ATM managed services capabilities, including transact ...

Executive Leadership Changes - Joshua Teteak will be appointed as executive vice president of Brink's Business System, effective August 26, 2024 [1] - Teteak will succeed Jamal Powell, who has been appointed executive vice president and vice president of Brink's Global Services for the United States [1] - Teteak will report to Mark Eubanks, president and chief executive officer of Brink's [1] - Teteak joins Brink's from GE Healthcare, where he served as global head of integrated supply chain, and previously held leadership roles at BlueLinx Corporation and Eaton Corporation [1] Strategic Vision and Leadership Impact - Teteak's proven track record in driving growth and organizational performance across large, distributed businesses is expected to benefit Brink's transformation efforts [2] - His extensive experience in lean and continuous improvement will help optimize safety, quality, delivery, and cost productivity while standardizing global processes [2] - Teteak expressed excitement about joining Brink's, citing its proud history and leadership in securing global commerce, and aims to scale operational excellence across the enterprise [2] Company Overview - Brink's Company is a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services [3] - The company serves customers including financial institutions, retailers, government agencies, mints, jewelers, and other commercial operations [3] - Brink's operates in 52 countries and serves customers in over 100 countries [3]

PM Images Investment summary My previous investment thought for The Brink’s Co. (NYSE:BCO) (published in July) was a buy rating because BCO was the largest player in the industry and its scale advantage should enable continuous market share gains. I remain bullish on BCO, as its latest performance was robust, driven by share gains and organic growth. BCO's new products continue to see accelerating growth, which makes the near-term growth outlook look very favorable. With fundamentals being relatively be ...

Have you looked into how Brink's (BCO) performed internationally during the quarter ending June 2024? Considering the widespread global presence of this armored car company, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth.In the modern, closely-knit global economic landscape, the capacity of a business to access foreign markets is often a key determinant of its financial well-being and growth path. Investors now place great importan ...

Financial Data and Key Metrics Changes - The company reported total organic growth of 14%, with adjusted EBITDA growing 16% to $226 million and margins expanding by 200 basis points to 18% [6][21][28] - Earnings per share increased by 31% to $1.67, driven by a 25% increase in net income and a 5% reduction in outstanding shares [6][22] - Free cash flow conversion remained strong, with expectations for full-year free cash flow between $415 million and $465 million [9][24][28] Business Line Data and Key Metrics Changes - ATM Managed Services and Digital Retail Solutions (AMS DRS) grew 26% organically, while Cash and Valuables Management (CVM) was up 10% organically [6][10] - AMS and DRS now represent 22% of total trailing 12-month revenue, with expectations for continued double-digit organic growth [17][28] - All segments experienced growth, but Global Services faced cyclical market softness impacting overall performance [10][11] Market Data and Key Metrics Changes - North America saw notable margin expansion of 360 basis points year-over-year, marking the eighth consecutive quarter of margin improvement [8][12] - Latin America faced challenges due to currency fluctuations, particularly in Argentina, impacting margins while pricing efforts catch up [10][11][49] - The company experienced an 11% translational foreign exchange headwind, which affected revenue growth expectations [9][20][27] Company Strategy and Development Direction - The company is focused on executing its strategy through growth in customer loyalty, innovation, operational excellence, and talent development [29] - Continued investments in technology and process improvements are aimed at enhancing operational efficiency and customer satisfaction [13][25] - The capital allocation framework emphasizes sustainable profitable growth, shareholder returns, and potential M&A opportunities aligned with AMS and DRS [24][26][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving low- to mid-teens organic revenue growth and double-digit EBITDA growth for the year [9][28] - The company remains optimistic about the resilience of its business model amid economic volatility, citing a broad distribution of customers [19][28] - Management acknowledged the impact of foreign exchange fluctuations but remains focused on driving productivity and managing costs effectively [49][50] Other Important Information - The company successfully refinanced its 2025 bonds, increasing liquidity and receiving a credit rating upgrade from S&P [9][23] - Shareholder returns increased by 133% over the first half of 2023, with $86 million allocated towards returns [8][26] - The company is targeting a capital structure that allows for continued investments in growth while maintaining financial flexibility [24][26] Q&A Session Summary Question: Can you talk about broader customer traction and receptivity within AMS and DRS? - Management noted strong customer traction across all regions, with a balanced growth contribution from new business, conversions, and competitive wins [31][40] Question: How should investors think about organic growth run rate moving into the back half of the year? - Management indicated that Q2 growth is expected to continue into Q3 and Q4, with a potential step-up in growth rates [43][44] Question: How is the company addressing inflationary issues in Latin America? - Management highlighted that while Argentina is performing as expected, currency fluctuations in Mexico and Brazil have posed challenges, but pricing strategies are in place to mitigate impacts [47][49]

Brink's (BCO) reported $1.25 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 3%. EPS of $1.67 for the same period compares to $1.18 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.25 billion, representing a surprise of -0.02%. The company delivered an EPS surprise of +17.61%, with the consensus EPS estimate being $1.42.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expec ...

Second-Quarter 2024 Earnings August 7, 2024 Safe Harbor Statements and Non-GAAP Results These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," "target" "project," "model", "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to, information regarding: 2024 outlook, including revenue, adjusted EB ...

Brink's (BCO) came out with quarterly earnings of $1.67 per share, beating the Zacks Consensus Estimate of $1.42 per share. This compares to earnings of $1.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.61%. A quarter ago, it was expected that this armored car company would post earnings of $1.23 per share when it actually produced earnings of $1.52, delivering a surprise of 23.58%.Over the last four quarters, the compa ...

Financial Performance - Consolidated revenues for Q2 2024 increased by $36.9 million to $1,253.1 million, a 3% increase compared to Q2 2023, driven by organic growth in Latin America, Europe, North America, and Rest of World [171]. - Operating profit for Q2 2024 rose by $10.4 million to $116.0 million, a 10% increase year-over-year, primarily due to organic growth in Latin America and North America [173]. - Income from continuing operations attributable to Brink's shareholders increased by $14.1 million to $46.3 million, resulting in diluted EPS of $1.03, up 51% from $0.68 in Q2 2023 [174]. - For the first half of 2024, revenues increased by $87.6 million to $2,489.2 million, a 4% increase compared to the first half of 2023, with organic growth primarily in Latin America [175]. - Non-GAAP operating profit for Q2 2024 increased by $23.8 million to $155.6 million, an 18% increase year-over-year, reflecting strong performance across segments [178]. - Non-GAAP income from continuing operations attributable to Brink's shareholders rose by $15.2 million to $75.4 million, with diluted EPS increasing to $1.67 from $1.27 in Q2 2023 [179]. - Non-GAAP adjusted EBITDA for Q2 2024 increased by 16% to $225.9 million, driven by higher operating profit [179]. - Total segment revenues for 2Q'24 reached $1,253.1 million, a 3% increase from the previous year, with a 14% organic growth [184]. - Non-GAAP net income for Q2 2024 was $155.6 million, compared to $131.8 million in Q2 2023, reflecting a year-over-year increase of 17.9% [237]. - The company’s GAAP operating profit for Q2 2024 was $116.0 million, an increase from $105.6 million in Q2 2023 [237]. - GAAP net income from continuing operations attributable to Brink's for Q2 2024 was $46.3 million, compared to $32.2 million in Q2 2023, representing a 43.5% increase [239]. Revenue Growth by Region - North America revenues increased by 4% ($14.6 million) due to a 3% organic increase ($10.4 million) and acquisitions impact of $4.8 million [186]. - Latin America revenues decreased by 1% ($2.2 million) primarily due to unfavorable currency exchange rates ($128.9 million), offset by a 38% organic increase ($126.7 million) [187]. - Europe revenues increased by 8% ($23.8 million) driven by a 9% organic increase ($25.6 million) and acquisitions impact of $1.9 million [188]. - Rest of World revenues increased by $0.7 million due to a 2% organic increase ($4.0 million), partially offset by unfavorable currency exchange rates ($3.3 million) [189]. Currency and Exchange Impact - The unfavorable impact of currency exchange rates was $136.5 million in Q2 2024, primarily due to the Argentine peso [172]. - The company reported transaction gains of $7.2 million in Q2 2024, compared to a loss of $14.0 million in Q2 2023, indicating a favorable change [224]. - As of June 30, 2024, the fair value of the cross currency swap contracts was a net liability of $23.4 million, with $5.6 million included in prepaid expenses and $29.0 million in other liabilities [219]. - The company reported a net liability of $34.6 million for currency swaps as of December 31, 2023, with $5.6 million in prepaid expenses and $40.2 million in other liabilities [219]. Operating Expenses and Profitability - Selling, general and administrative expenses increased by 14% to $194.3 million in Q2 2024, mainly due to organic labor cost increases [172]. - Total operating profit for 2Q'24 was $116.0 million, a 10% increase from the previous year, with a 52% organic growth [184]. - North America operating profit increased by 38% ($14.2 million) due to a 37% organic increase ($13.7 million) [186]. - Latin America operating profit decreased by 4% ($2.7 million) primarily due to unfavorable currency exchange rates ($40.9 million), despite a 58% organic increase ($38.2 million) [187]. - Europe operating profit increased by $2.9 million, primarily due to an 11% organic increase ($3.1 million) [188]. Corporate Expenses and Charges - Corporate expenses for the first six months of 2024 decreased by $15.4 million compared to the prior year, mainly due to lower insurance and security losses [198]. - Total recognized charges under the 2022 Global Restructuring Plan amounted to $34.0 million, with expected total expenses between $36 million and $38 million, aiming for annualized cost savings of approximately $60 million [200]. - The company incurred $12.0 million in transformation initiative costs in the first six months of 2024, aimed at accelerating growth and driving margin expansion [205]. - The company recognized $13.0 million in pretax charges related to highly inflationary accounting in Argentina, down from $22.2 million in the same period of 2023 [204]. Cash Flow and Capital Expenditures - Cash flows from operating activities decreased by $107.5 million in the first six months of 2024, resulting in a negative cash flow of $2.2 million compared to a positive cash flow of $105.3 million in the same period of 2023 [241]. - Free cash flow before dividends decreased by $103.7 million in the first six months of 2024, amounting to $(36.8) million compared to $66.9 million in the same period of 2023 [244]. - Capital expenditures increased to $108.9 million in the first six months of 2024, up from $89.4 million in the same period of 2023, marking a 21.9% increase [246]. - Cash used in investing activities decreased by $28.2 million in the first six months of 2024, totaling $(116.4) million compared to $(144.6) million in the same period of 2023 [246]. Debt and Liquidity - Total debt as of June 30, 2024, was $3,747.1 million, up from $3,531.3 million at the end of 2023, reflecting an increase of $215.8 million [254]. - Net debt increased by $205 million to $2,726.0 million as of June 30, 2024, primarily to fund general corporate purposes [255]. - The company financed its liquidity needs in the first six months of 2024 with existing cash from operations and cash flows from long-term debt [240]. - As of June 30, 2024, $950 million was available under the Revolving Credit Facility to meet liquidity needs [256]. Pension and Retirement Plans - The primary U.S. pension plan's beginning funded status was $(24.0) million in 2023, improving to $(10.9) million in the first half of 2024 [262]. - The ending funded status for the primary U.S. pension plan is projected to reach $20.6 million by 2027 and $34.5 million by 2028 [262]. - The UMWA plans had a beginning funded status of $(94.9) million in 2023, with an expected ending status of $(90.0) million by 2028 [264]. - The Black Lung plans had a beginning funded status of $(75.8) million in 2023, projected to improve to $(54.2) million by 2028 [265]. - Payments from Brink's to U.S. retirement plans totaled $7.7 million in 2023, with projections of $9.3 million for FY2024 [268]. Taxation - The provision for income taxes for continuing operations was $22.1 million in Q2 2024, with an effective tax rate of 30.7%, down from 39.9% in Q2 2023 [228]. - The effective income tax rate for YTD 2024 was 28.1%, compared to 24.8% for YTD 2023, indicating an increase of 3.3 percentage points [235]. - Cash payments for income taxes increased to $68.5 million in the first six months of 2024, compared to $54.7 million in the same period of 2023, reflecting a 25.5% increase [243].

Exhibit 99.1 (In millions, except for per share amounts) Second-Quarter 2024 (vs. 2023) IBRINKS P R E S S R E L E A S E Contact: Investor Relations 804.289.9709 BRINK'S CORPORATE The Brink's Company 1801 Bayberry Court Richmond, VA 23226-8100 USA Brink's Announces Strong Second-Quarter Results Record Second-Quarter revenue with growth of 3% Organic revenue growth of 14%, including accelerating AMS/DRS organic growth of 26% GAAP net income up 44% to $46M and adjusted EBITDA up 16% to $226M GAAP EPS up 51% to ...