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The Brink's Company (NYSE: BCO) is a leading global provider of secure solutions, including cash management, digital retail solutions, and ATM managed services. Established in 1859, Brink's has grown to operate more than 1,100 facilities and 12,000 vehicles, servicing customers in over 100 countries. The company employs over 59,900 individuals worldwide, delivering critical business intelligence, productivity improvements, and enhanced protection for high-value goods and cash.
Brink's offers a range of services that include cash-in-transit, ATM services, smart safes, and currency processing, catering to diverse clients such as financial institutions, retailers, government agencies, mints, and jewelers. The company’s operations are segmented geographically into North America, Latin America, Europe, and the Rest of the World, with North America being the largest revenue contributor.
In recent years, Brink's has made significant strides in expanding its digital retail solutions (DRS) and ATM managed services (AMS). The acquisition of U.K.-based G4S in 2020 has bolstered its capabilities and market presence, particularly in the secure transportation of high-value commodities like jewelry and electronics.
Financially, Brink's has demonstrated strong performance, with record revenues and operating profits reported in recent quarters. For example, the third quarter of 2023 saw GAAP revenues increase by 8% year-over-year to $1.227 billion, with GAAP operating profit rising by 131% to $138 million. The company also announced a new $500 million share repurchase program in November 2023, reflecting confidence in its financial outlook.
Brink's strategic initiatives include leveraging the Brink’s Business System to drive growth and efficiency globally, enhancing service offerings through technology-enabled solutions, and maintaining a disciplined capital allocation framework.
The Brink's Company (NYSE: BCO) has announced a $50 million accelerated share repurchase (ASR) agreement with J.P. Morgan Chase Bank. This transaction is part of a broader $250 million share repurchase authorization, temporarily paused due to pandemic uncertainties. President Doug Pertz emphasized the company's commitment to shareholder value and confidence in emerging stronger from the COVID-19 pandemic. The ASR is expected to acquire approximately 850,000 shares, and completion is projected by November 2, 2020. Brink's had about 51 million fully diluted shares outstanding as of June 30, 2020.
The Brink’s Company (NYSE: BCO) reported a strong 2020 second-quarter performance despite ongoing COVID-19 challenges. GAAP EPS rose to $0.27, exceeding expectations, while non-GAAP EPS fell to $0.67. Revenue declined by 10% year-over-year to $826 million, with a notable recovery from a 29% decline in April to 14% in June. The G4S acquisition contributed positively, generating synergies and enhancing geographical reach. Management offered projections for adjusted EBITDA between $465 million and $515 million for 2020, and between $615 million and $805 million for 2021, emphasizing cautious optimism for recovery.
The Brink's Company (NYSE: BCO) has declared a quarterly dividend of 15 cents per share, payable on September 1, 2020. Shareholders must be on record by July 27, 2020 to receive the dividend. This announcement underscores Brink's commitment to returning value to shareholders while maintaining its position as a leader in secure logistics and cash management services globally.
The Brink’s Company (NYSE: BCO) will host a conference call on July 29, 2020, at 8:30 a.m. ET to discuss its second-quarter financial results. The call can be accessed by calling 888-349-0094 (U.S.) or 412-902-0124 (international). Pre-registration is encouraged. A replay will be available until August 29, 2020. Brink's is a leader in total cash management and secure logistics, serving customers in over 100 countries with comprehensive cash management solutions. More details about the company can be found on its website.
The Brink’s Company (NYSE: BCO) has successfully closed a $400 million offering of 5-year senior unsecured notes with a 5.5% annual interest rate, maturing in July 2025. Proceeds will partially refinance existing debt from the G4S Cash acquisitions, finance remaining acquisitions, and cover related expenses. The company’s pro forma net debt will remain unchanged, with a first lien leverage ratio of 2.0x and expected liquidity of $1.2 billion as of March 31, 2020.
The Brink's Company (NYSE:BCO) announced the pricing of $400 million in 5-year senior unsecured notes, maturing on July 15, 2025, at an interest rate of 5.5%. The offering, expected to close on June 22, 2020, will help repay existing debts from acquiring G4S Cash businesses and cover related expenses. Additionally, proceeds will support working capital and other corporate needs. The notes will be privately offered and are not registered under the Securities Act.
The Brink's Company (NYSE: BCO) announced its plan to offer $400 million of 5-year senior unsecured notes, contingent on market conditions. The proceeds will primarily be used to repay existing debt from the acquisition of G4S Cash businesses and to finance subsequent acquisitions, alongside covering transaction fees. The notes will be issued to qualified institutional buyers and will not be registered under the Securities Act. Brink's, a leader in cash management and secure logistics, operates in over 48 countries, serving various sectors including financial institutions and retailers.
The Brink's Company (NYSE: BCO) announced an amendment to its credit agreement on June 12, 2020, providing long-term covenant relief and enhanced strategic flexibility. The amendment changes the leverage ratio calculation to a net first lien leverage ratio, excluding approximately $600 million in unsecured debt. For the remainder of 2020, the maximum leverage ratio is set at 4.25x. The pro forma leverage ratio post-G4S acquisition is 2.6x based on Adjusted EBITDA. CEO Doug Pertz emphasized the financial flexibility gained amid the ongoing impact of COVID-19.
The Brink’s Company (NYSE: BCO), a leader in cash management and secure logistics, announced that its CEO Doug Pertz and CFO Ron Domanico will present at the Baird 2020 Global Consumer, Technology & Services Conference on June 2, 2020, at 10:50 A.M. ET. The management team will be available for investor meetings throughout the day. A live audio webcast of the presentation will be accessible through their website. Brink’s operates in 47 countries and provides services to a diverse clientele including financial institutions and retailers.
The Brink’s Company (NYSE: BCO) has announced a quarterly dividend of 15 cents per share on its common stock, payable on June 1, 2020. Shareholders of record by May 18, 2020 will receive this dividend. Brink’s, a leader in secure logistics and cash management, operates globally in 47 countries and serves clients across more than 100 countries, including financial institutions and retailers.
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