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Brinks Co (BCO) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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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 Record First-Quarter Results

Record Revenue, Operating Profit, Net Income, Adjusted EBITDA and EPS
Full-Year Guidance Affirmed

1Q Highlights:
•Revenue up 10%, reflecting 9% organic growth
•Operating profit: GAAP up 1% to $62M; non-GAAP up 24% to $112M
•Operating margin: GAAP 5.8%; non-GAAP 10.4%
•GAAP net income $71M vs $13M; adjusted EBITDA up 21% to $165M
•EPS: GAAP $1.48 vs $0.25; non-GAAP up 46% to $1.15
•Non-GAAP excludes a one-time $58M tax benefit and a one-time $17M receivables reserve related primarily to customers impacted by the pandemic

RICHMOND, Va., May 10, 2022
– The Brink’s Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced first-quarter results.
Mark Eubanks, president and CEO, said: “Our record first-quarter results include revenue growth of 10%, operating profit growth of 24%, a 21% increase in adjusted EBITDA and EPS growth of 46%. These results clearly demonstrate the resiliency of our business and support our confidence in achieving our 2022 full-year guidance and 2024 financial targets.
“Global cash in circulation continues to rise, and in-person retail sales in the U.S. now exceed pre-pandemic levels. We expect full-year revenue to return to at least pre-Covid levels, with continued margin expansion and operating leverage driven by internal efficiency initiatives and fixed cost reductions. We anticipate demand for Brink’s Complete and our ATM managed services to increase as the pandemic subsides and more economies reopen. As we move through the year, pricing should continue to offset inflationary pressures and we do not expect global supply chain disruptions to materially affect our operations. Our 2022 guidance remains unchanged, with revenue expected to exceed 2019 reported results by close to $1 billion and cumulative margin improvement of approximately 150 basis points from pre-pandemic levels.”
First-quarter GAAP net income of $71 million includes a one-time $58 million tax benefit and a one-time $17 million receivables reserve related primarily to customers impacted by the pandemic. Both items are excluded from non-GAAP results. See GAAP to non-GAAP reconciliation on page 11.



The following information was filed by Brinks Co (BCO) on Tuesday, May 10, 2022 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

Cover Page
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 - Acquired Entities (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 - Narrative (Details)
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)
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: 0000078890-22-000223
Submitted to the SEC: Tue May 10 2022 7:35:45 AM EST
Accepted by the SEC: Tue May 10 2022
Period: Thursday, March 31, 2022
Industry: Arrangement Of Transportation Of Freight And Cargo

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