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Mar 31, 2023
Brinks Q1 2023 Earnings Report
Brink's Q1 2023 earnings reflected double-digit revenue and operating profit growth, with the highest Q1 GAAP operating profit margin since 2018 and non-GAAP operating profit margin since 2010.
Key Takeaways
Brink's Q1 2023 earnings showcased strong performance with double-digit revenue growth, driven by robust gains in digital retail solutions and ATM managed services. The company's highest non-GAAP first quarter operating margin in recent history was attributed to higher productivity, labor improvements in the U.S., benefits from the 2022 global restructuring plan, and improved revenue mix. Increased full-year 2023 guidance for operating profit, adjusted EBITDA and EPS.
Revenue increased by 10%, with organic growth contributing 13%.
GAAP operating profit rose by 28% to $80 million, while non-GAAP operating profit increased by 14% to $127 million.
GAAP operating margin improved to 6.7%, and non-GAAP operating margin reached 10.7%.
GAAP EPS was $0.30, and non-GAAP EPS was $1.16.
Revenue by Geographic Location
Forward Guidance
Brink's has increased its 2023 profit expectations to reflect further restructuring actions and are confident in our outlook as we capitalize on the strong start to the year and work to deliver results that create long-term shareholder value.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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