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Brinks Co (BCO) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

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Brinks Co

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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 Third-Quarter Results, Reinstates 2020 Guidance

Third-Quarter Results Reflect Strong Revenue Recovery, Cost Reductions Drive Margin Growth
Full-Year Results Expected to Exceed High End of Previously Disclosed Sensitivity Model
U.S. Cash Processing Volumes Above Pre-pandemic Levels, Reflecting Continued Strong Cash Usage

3Q20:
•EPS: GAAP $(.47); non-GAAP $.86
•Net Income: GAAP ($24 million); Adjusted EBITDA $147 million
•Revenue: up 5%; up 11% constant currency
•Revenue at 88% of 2019 pro forma, up from 78% in 2Q, September at 90% (pro forma includes G4S in 2019)
•Operating profit: GAAP $76 million, 7.9% margin; non-GAAP $100 million, 10.3% margin

Sequential 3Q20 vs 2Q20:
•Revenue: up 17% (up 15% excluding G4S)
•Non-GAAP operating profit up 36%, margin up 140 basis points to 10.3%
•Cash as a % of U.S. retail payments has not materially changed

RICHMOND, Va., October 29, 2020
–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 2020, which are summarized below.
(In millions, except for per share amounts)Third-Quarter 2020
GAAPChangeNon-GAAPChange
Constant Currency Change(b)
Revenue$971 5%$971 5%11%
Operating Profit$76 46%$100 (2%)19%
Operating Margin7.9 %220 bps10.3 %(80 bps)80 bps
Net Income / Adjusted EBITDA(a)
$(24)unfav$147 1%18%
EPS$(0.47)unfav$0.86 (18%)10%
(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 2020 results at 2019 exchange rates.

Doug Pertz, president and chief executive officer, said: “Our third-quarter results reflect substantial growth over the strong second-quarter results and demonstrate the resiliency of our business. We expect further improvement in the fourth quarter as ongoing cost actions, organic revenue growth and additional contributions from the G4S acquisition drive operating profit and margin rates higher. As a result, we’ve reinstated non-GAAP guidance for 2020 that exceeds the high end of the range implied in the sensitivity model provided with second-quarter earnings. We now expect 2020 adjusted EBITDA between $520 million and $535 million. (See table on p. 4.)

The following information was filed by Brinks Co (BCO) on Thursday, October 29, 2020 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 - Dispositions (Details)
Acquisitions And Dispositions - Pro Forma (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Capital Stock
Capital Stock (Details)
Capital Stock (Tables)
Capital Stock - Shares Used To Calculate Earnings (Details)
Contingent Matters
Credit Losses
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Credit Losses (Tables)
Debt
Debt (Details)
Debt (Tables)
Debt - Narrative (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments (Tables)
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 (Policies)
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Contract Balances (Details)
Revenue From Contracts With Customers - Disaggregation Of Revenue (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Segment Information - Assets By Reportable Segments (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, 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: 0000078890-20-000087
Submitted to the SEC: Thu Oct 29 2020 3:46:27 PM EST
Accepted by the SEC: Thu Oct 29 2020
Period: Wednesday, September 30, 2020
Industry: Arrangement Of Transportation Of Freight And Cargo

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