Loading...
•
Jun 30, 2024
Brinks Q2 2024 Earnings Report
Brink's reported strong second-quarter results, marked by record revenue, organic growth, and increased profitability.
Key Takeaways
Brink's announced strong second-quarter results, with record revenue and significant organic growth. The company's GAAP net income and EPS increased substantially, and adjusted EBITDA also saw a notable rise. Brink's continues to focus on strategic objectives, including growing AMS and DRS revenue and expanding profit margins.
Record second-quarter revenue was achieved with 3% growth.
Organic revenue growth was 14%, including a 26% increase in AMS/DRS.
GAAP net income rose by 44% to $46 million, and adjusted EBITDA increased by 16% to $226 million.
GAAP EPS increased by 51% to $1.03, and non-GAAP EPS grew by 31% to $1.67.
Brinks
Brinks
Brinks Revenue by Geographic Location
Revenue by Geographic Location
North America Revenue
CapyFin.comLatin America Revenue
CapyFin.comEurope Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Brink's provided its 2024 Non-GAAP outlook, but cannot be reconciled to GAAP without unreasonable effort.
Positive Outlook
- Revenues are expected to be between $5,075 million and $5,225 million.
- Adjusted EBITDA is projected to be in the range of $935 million to $985 million.
- Adjusted EBITDA margin is anticipated to be between 18.4% and 18.9%.
- Free cash flow before dividends is estimated to be between $415 million and $465 million.
- EPS from continuing operations attributable to Brink's is expected to be between $7.30 and $8.00.
Challenges Ahead
- The 2024 Non-GAAP outlook amounts cannot be reconciled to GAAP without unreasonable effort.
- The company is unable to accurately forecast the impact of highly inflationary accounting on Argentina operations.
- The company is unable to forecast other potential Non-GAAP adjusting items, such as future restructuring actions.
- The company is unable to forecast the impact of possible future acquisitions.
- The company is unable to forecast changes in cash held for customer obligations or proceeds from the sale of property, equipment and investments in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income