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Brinks Co (BCO) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Brinks Co

CIK: 78890 Ticker: BCO



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Exhibit 99.1
Contact: Investor Relations
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804.289.9709
FOR IMMEDIATE RELEASE
Brink's Second-Quarter Results Include Strong Profit Growth
in U.S., Mexico and South America


RICHMOND, Va., July 25, 2018 – The Brink’s Company (NYSE:BCO), the global leader in total cash management, secure logistics and payment solutions, today announced results for the second quarter of 2018.
(In millions, except for per share amounts)
Second-Quarter 2018
 
GAAP
 
Change
 
Non-GAAP
 
Change
Revenue
$
850

 
+5%
 
$
824

 
+8%
Operating Profit
$
62

 
+28%
 
$
76

 
+25%
Operating Margin
7.3
%
 
+130 bps
 
9.2
%
 
+120 bps
Net Income / Adjusted EBITDA(a)
$
(108
)
 
unfav
 
$
118

 
+25%
EPS
$
(2.11
)
 
unfav
 
$
0.74

 
+12%
(a)
The non-GAAP financial metric, adjusted EBITDA, is presented with its corresponding GAAP metric, net income attributable to Brink's.
Highlights include:
GAAP EPS $(2.11) vs $.28; 2018 EPS includes $2.47 charge for Venezuela deconsolidation
Non-GAAP EPS $.74 vs $.66; ninth consecutive quarter of year-over-year profit increases
North America profits up 55% (60% constant currency) on strength in U.S. and Mexico
South America profits up 27% (62% constant currency) driven by Brazil, Argentina and Chile
2018 guidance revised for negative currency translation, partially offset by higher organic growth

Doug Pertz, president and chief executive officer, said: “Second-quarter reported non-GAAP results were very strong, with 8% revenue growth and a 25% increase in operating profit driven by significant improvement in the U.S., Mexico and throughout South America, which more than offset $16 million of negative currency translation. Excluding the impact of foreign exchange, constant currency revenue and operating profit rose 13% and 52%, respectively. On an organic basis, which excludes both currency translation and acquisitions, operating profit rose 38%. These results clearly demonstrate strong operating leverage from internal improvement initiatives and acquisitions, which enabled our profit momentum to continue irrespective of currency rate movements. Reported non-GAAP earnings per share rose 12% for the second consecutive quarter. As in the first quarter, earnings were affected by a higher tax rate and higher net interest costs, two negative factors that should be substantially mitigated in 2019 after the Dunbar acquisition is completed. As a result, future earnings should be more consistent with growth in operating income.”
The negative currency impact is related primarily to the company’s South America segment, where the Argentine peso declined 32% and the Brazilian real declined 11% versus last year’s second quarter. Despite these currency declines, South America operating profit increased 27% on revenue growth of 14%. North America operating


The following information was filed by Brinks Co (BCO) on Wednesday, July 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Brinks Co's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Equity (Unaudited)
Condensed Consolidated Statement Of Equity (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) - Amounts In Oci (Details)
Accumulated Other Comprehensive Income (Loss) - Reclasses Out Of Aoci (Details)
Acquisitions And Dispositions
Acquisitions And Dispositions (Tables)
Acquisitions And Dispositions - Acquired Entities (Details)
Acquisitions And Dispositions - Pro Forma (Details)
Acquisitions And Dispositions Acquisitions And Dispositions - Dispositions (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Contingent Matters
Debt
Debt (Details)
Debt (Tables)
Debt - Narrative (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments Fair Value Of Financial Instruments (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Schedule Of Components Of Income Tax Expense (Benefit) (Details)
Reorganization And Restructuring
Reorganization And Restructuring (Details)
Reorganization And Restructuring (Tables)
Retirement Benefits
Retirement Benefits (Tables)
Retirement Benefits - Retirement Cost (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Disaggregation Of Revenue (Details)
Revenue From Contracts With Customers Revenue From Contracts With Customers - Comparative Periods (Details)
Revenue From Contracts With Customers Revenue From Contracts With Customers - Contract Balances (Details)
Segment Information
Segment Information (Tables)
Segment Information - Narrative (Details)
Segment Information - Revenue And Operating Profits (Details)
Share-Based Compensation Plans
Share-Based Compensation Plans (Tables)
Share-Based Compensation Plans - Compensation Expense (Details)
Share-Based Compensation Plans - Option Activity (Details)
Share-Based Compensation Plans - Stock Activity - Rsu, Psu, Msu, Dsu (Details)
Shares Used To Calculate Earnings Per Share
Shares Used To Calculate Earnings Per Share (Details)
Shares Used To Calculate Earnings Per Share (Tables)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Ticker: BCO
CIK: 78890
Form Type: 10-Q Quarterly Report
Accession Number: 0000078890-18-000033
Submitted to the SEC: Wed Jul 25 2018 4:19:54 PM EST
Accepted by the SEC: Wed Jul 25 2018
Period: Saturday, June 30, 2018
Industry: Arrangement Of Transportation Of Freight And Cargo

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