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![]() | Exhibit 99.1 |
Contact: Investor Relations | ![]() |
804.289.9709 | FOR IMMEDIATE RELEASE |
(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. |
• | 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 |
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Revenues increased 21% $66.9 million primarily due to the favorable impact of the Dunbar acquisition $52.4 million and 7% organic growth $22.2 million driven by price and volume growth in Mexico and the U.S. Operating profit increased $16.7 million primarily due to organic growth in Mexico and the U.S. and the favorable impact of the Dunbar acquisition $3.5 million.
Operating profit decreased 8% $2.5 million due to an organic decrease $1.2 million primarily related to France, the unfavorable impact of acquisitions and dispositions $0.7 million and unfavorable currency $0.6 million.
Operating profit increased 20% $24.7 million driven by organic revenue growth in Argentina and Brazil and the favorable impact of acquisitions $15.8 million, partially offset by unfavorable currency $41.8 million primarily driven by the Argentine peso.
Organic revenue growth increased from price and volume growth in Mexico and price increases in the U.S.. Operating profit increased $36.4 million primarily due to organic growth in Mexico and the U.S. and the favorable impact of the Dunbar acquisition $3.5 million.
Organic profit growth in Mexico was driven by higher volumes, price increases, and labor-related productivity improvements.
the favorable operating impact of...Read more
the favorable operating impact of...Read more
Revenues decreased 13% $31.9 million...Read more
Revenues decreased 4% $11.3 million...Read more
Revenues increased 8% $56.4 million...Read more
the favorable operating impact of...Read more
the favorable operating impact of...Read more
The organic profit growth was...Read more
Non-GAAP income from continuing operations...Read more
Organic profit growth in Mexico...Read more
Our management believes these measures...Read more
Our management believes these measures...Read more
Operating profit decreased 2% $1.5...Read more
Cash used by investing activities...Read more
Retirement benefits related to former...Read more
lower corporate expenses $6.4 million...Read more
lower corporate expenses $6.4 million...Read more
Revenues increased 8% $49.4 million...Read more
The reduction is primarily related...Read more
Amortization expense for acquisition-related intangible...Read more
Amortization expense for acquisition-related intangible...Read more
The effective income tax rate...Read more
The effective income tax rate...Read more
Prior to the July 1,...Read more
Corporate expenses for the third...Read more
Organic growth represents the change...Read more
Payment Services bill payment and...Read more
Organic profit growth in the...Read more
Organic profit growth in the...Read more
Revenues increased 10% $95.4 million...Read more
Effective June 30, 2018, we...Read more
The organic growth was driven...Read more
Cash flows from financing activities...Read more
Cash used by investing activities...Read more
The non-GAAP adjustments used to...Read more
This table summarizes actual and...Read more
Operating profit decreased 3% $1.4...Read more
higher corporate expenses $4.7 million...Read more
higher corporate expenses $4.7 million...Read more
Restricted cash borrowings are related...Read more
We believe these measures are...Read more
unfavorable changes in currency exchange...Read more
unfavorable changes in currency exchange...Read more
unfavorable changes in currency exchange...Read more
Operating profit increased $7.9 million...Read more
Gain on a disposition of...Read more
Non-GAAP capital expenditures and non-GAAP...Read more
Interest expense was higher in...Read more
Interest expense was higher in...Read more
The specific items excluded have...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Brinks Co provided additional information to their SEC Filing as exhibits
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