The Brink’s Company (NYSE:BCO), a leading global provider of cash and valuables management, digital retail solutions (DRS), and ATM managed services (AMS), today announced 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 $1.03 and non-GAAP EPS up 31% to $1.67
Repurchased over 722k shares year-to-date at average price of $91.02 per share
Mark Eubanks, president and CEO, said: “Our strong second-quarter was highlighted by continued progress on our strategic objectives to grow AMS and DRS revenue, expand profit margins, and return excess cash to shareholders. Organic growth in AMS and DRS accelerated sequentially and was up 26% year-over-year as we continue to penetrate underserved end-markets across the world. Second quarter adjusted EBITDA margins expanded 200 basis-points, including 360 basis-points in the key North America segment, as we continue to progress our LEAN maturity with the Brink’s Business System. We also continue to execute against our capital allocation framework, returning $86 million of cash to our shareholders so far this year, more than double the prior year.”
“I am confident we remain on the right strategic path and am encouraged by the pace in which we are transforming our business for future success. Central bank policies and current year election cycles, including here in the U.S., continue to be dynamic. The recent trends of the strengthening U.S. dollar impacted our results in the second quarter and remain fluid in the back half of the year. Considering these market dynamics, our strong results in the first half are that much more impressive – thanks to the dedication and performance of our over 68 thousand worldwide employees.”
