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Brinks Co (BCO) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 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 Reports Improved Third-Quarter Results
Strong Organic Growth in U.S., Mexico and South America Significantly Exceeds Currency Impact
Management Updates 2018 Guidance, Provides Preliminary Guidance for 2019


RICHMOND, Va., October 24, 2018 – The Brink’s Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced results for the third quarter of 2018.
(In millions, except for per share amounts)
Third-Quarter 2018
 
 
 
GAAP
 
Change
 
Non-GAAP
 
Change
 
Constant Currency Change(b)
Revenue
$
852

 
0%
 
$
852

 
3%
 
13%
Operating Profit
$
67

 
1%
 
$
95

 
25%
 
55%
Operating Margin
7.9
%
 
10 bps
 
11.2
%
 
200 bps
 
12.7%
Net Income / Adjusted EBITDA(a)
$
17

 
(13%)
 
$
136

 
21%
 
44%
EPS
$
0.34

 
(11%)
 
$
0.91

 
8%
 
42%
(a)
The non-GAAP financial metric, adjusted EBITDA, is presented with its corresponding GAAP metric, net income attributable to Brink's.
(b)
Constant currency represents 2018 results at 2017 exchange rates.
Highlights include:
Segment revenue: $106 million of organic and acquisition-related growth (13% constant currency growth) more than offset negative currency translation of $82 million; reported revenue growth of 3%
Total operating profit:
GAAP: Organic and acquisition-related profit growth of $25 million (38% constant currency growth) more than offset negative currency translation of $24 million; reported profit growth of 1%
Non-GAAP: Organic and acquisition-related profit growth of $42 million (55% constant currency growth) more than offset negative currency translation of $24 million; reported profit growth of 25%
North America revenue up 21%, operating profit up 99%
Profits in U.S. operations (excluding Dunbar) more than tripled; margin 6%+
Dunbar (acquired August 13) added $51 million of revenue
Mexico revenue up 8% (15% organic); 16% margin
South America organic and acquisition-related profit growth of $20 million (42% constant currency growth) offset by negative currency translation of $22 million; margin up 220 bps to 21.5%.
Rest of World revenue and profit declined slightly on continued pricing weakness and the sale of the airport guarding business in France; margin 12.1% vs 12.6%; improvement expected in 2019

Doug Pertz, president and chief executive officer, said: “The improvement in our third-quarter non-GAAP earnings was driven primarily by accelerating profit growth in our U.S. business, continued profit momentum in Mexico and acquisition-related growth. Reported non-GAAP operating profit rose 25%, reflecting strong organic and acquisition-

1

The following information was filed by Brinks Co (BCO) on Wednesday, October 24, 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)
Capital Stock
Capital Stock (Tables)
Capital Stock - Shares Used To Calculate Earnings (Details)
Capital Stock Capital Stock (Details)
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 - 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)
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: 0000078890-18-000041
Submitted to the SEC: Wed Oct 24 2018 4:33:34 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Arrangement Of Transportation Of Freight And Cargo

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