BRINKS CO SEC 10-Q Report

The Brink's Company, a global leader in total cash management, route-based secure logistics, and payment solutions, has released its latest Form 10-Q report for the quarter ended March 31, 2025. The report highlights the company's stable financial performance and ongoing operational initiatives aimed at driving growth and improving margins.

Financial Highlights

• Revenues: $1,246.7 million, reflecting a slight increase of 1% compared to the same period last year, indicating stable sales performance.
• Cost of Revenues: $939.5 million, representing a 1% increase, which aligns with the revenue growth.
• Operating Profit: $119.1 million, a slight decrease of 1% from the previous year, suggesting stable operational efficiency despite increased costs.
• Net Income: $53.9 million, showing a modest increase from $52.2 million in the prior year, highlighting improved profitability.
• Net Income Attributable to Brink’s: $51.6 million, up from $49.3 million, indicating a positive trend in earnings attributable to the company.
• Income per Share Attributable to Brink’s Common Shareholders - Basic: $1.20, an increase from $1.10, reflecting enhanced shareholder value.
• Income per Share Attributable to Brink’s Common Shareholders - Diluted: $1.19, up from $1.09, demonstrating improved earnings per share performance.

Business Highlights

• Revenue Segments: The Brink's Company reported revenue from two main service categories: Cash and Valuables Management (CVM) and Digital Retail Solutions (DRS) and ATM Managed Services (AMS). CVM services include cash-in-transit, basic ATM services, and cash management services, while DRS and AMS focus on technology-enabled services for cash acceptance and ATM management.
• Geographical Performance: The company operates in four segments: North America, Latin America, Europe, and Rest of World. North America generated $417.6 million in revenue, Latin America $307.6 million, Europe $299.1 million, and Rest of World $222.4 million for the three months ended March 31, 2025. Notably, the Rest of World segment saw an increase in revenue compared to the previous year.
• Segment Operating Profit: North America reported a segment operating profit of $53.1 million, Latin America $53.9 million, Europe $25.2 million, and Rest of World $50.1 million. The Latin America segment showed a slight decrease in operating profit compared to the previous year.
• Future Outlook: The company is focused on accelerating growth and driving margin expansion through transformation initiatives. These initiatives aim to standardize commercial and operational systems and processes, drive continuous improvement, and achieve operational excellence.
• Operational Challenges: The company continues to face challenges in Argentina due to the devaluation of the Argentine peso and significant inflation. The Argentine economy remains highly inflationary, impacting the company's operations in the region.
• Transformation Initiatives: Brink's is undertaking a multi-year transformation program designed to enhance growth and improve margins by standardizing systems and processes across its operations.
• Regulatory and Compliance Matters: The company resolved investigations with the DOJ and FinCEN related to AML compliance, agreeing to pay $42 million over three years. This resolution impacts the company's operational focus on compliance and regulatory adherence.

SEC Filing: BRINKS CO [ BCO ] - 10-Q - May. 12, 2025