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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.
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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