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Brinks Co (BCO) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

SEC Filings

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 Third-Quarter Results

Strong Growth in Revenue, Net Income, Adjusted EBITDA and EPS
Company Announces $150 Million Accelerated Share Repurchase Plan
Virtual Investor Day Planned on December 15


3Q Highlights:
Revenue up 11% reflecting 6% organic growth
Operating profit: GAAP down 3% to $74M; non-GAAP up 16% to $116M
Operating margin: GAAP 6.9%, down 100 bps; non-GAAP up 50 bps to 10.8%
GAAP net income $19M, up from a loss of $24M; Adjusted EBITDA up 15% to $170M
EPS: GAAP $.38, up from a loss of ($.47); non-GAAP up 28% to $1.14

RICHMOND, Va., October 27, 2021
–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 2021, which are summarized below.
(In millions, except for per share amounts)Third-Quarter 2021
GAAP
Change(b)
Non-GAAPChange
Constant Currency Change(c)
Revenue$1,076 11%$1,076 11%10%
Operating Profit$74 (3%)$116 16%9%
Operating Margin6.9 %(100 bps)10.8 %50 bps(10 bps)
Net Income / Adjusted EBITDA(a)
$19 fav$170 15%10%
EPS$0.38 fav$1.14 28%18%
(a)The non-GAAP financial metric, adjusted EBITDA, is presented with its corresponding GAAP metric, net income attributable to Brink's.
(b)The “fav” represents a change greater than 100% in a direction favorable to the company or a change from a negative amount in the prior period to a positive amount in the current period. The “unfav” represents a change greater than 100% in a direction unfavorable to the company or a change from a positive amount in the prior period to negative amount in the current period.
(c)Constant currency represents 2021 Non-GAAP results at 2020 exchange rates.

Doug Pertz, president and chief executive officer, said: “Our third-quarter non-GAAP results include double-digit growth in revenue and profits, demonstrating our continued recovery from the pandemic and our improved cost structure. Despite the pandemic’s ongoing impact on organic growth, third-quarter revenue recovered to 98% of 2019 pre-Covid levels on a comparable local currency basis. While our results in the U.S. continue to be affected by labor shortages and inflationary wage pressures, we expect these conditions to improve as we approach year-end, and expect wage inflation to be fully offset by price increases as we


The following information was filed by Brinks Co (BCO) on Wednesday, October 27, 2021 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 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
Contingent Matters (Details)
Credit Losses
Credit Losses (Details)
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)
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)
Subsequent Events
Subsequent Events (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: 0000078890-21-000239
Submitted to the SEC: Fri Oct 29 2021 9:17:54 AM EST
Accepted by the SEC: Fri Oct 29 2021
Period: Thursday, September 30, 2021
Industry: Arrangement Of Transportation Of Freight And Cargo

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