Brinks Co Stock Price, News & Analysis

The Brink’s Company (NYSE: BCO) has successfully closed its offering of 5-year and 8-year senior unsecured notes, each in the amount of $400 million. The notes, priced at par, will mature on June 15, 2029, and June 15, 2032, respectively, with annual interest rates of 6.500% and 6.750%. CFO Kurt McMaken highlighted the benefits of the refinancing, including extended debt maturities, increased liquidity, and maintained leverage. The company does not anticipate significant impacts on 2024 interest expenses or EPS guidance. Proceeds will be used to redeem $400 million of 5.500% Senior Notes due 2025, repay portions of its $1 billion revolving credit facility, and for general corporate purposes.

Brink's Company (NYSE: BCO) has announced the pricing of its $400 million 5-year and $400 million 8-year senior unsecured notes. The 5-year notes will mature on June 15, 2029, with an annual interest rate of 6.500%, while the 8-year notes will mature on June 15, 2032, with an annual interest rate of 6.750%. The notes will be general unsecured obligations guaranteed by the company’s U.S. subsidiaries. The issuance was upsized from an initially planned $400 million offering. Net proceeds will be used to redeem $400 million of 5.500% Senior Notes due 2025 and repay part of the company's $1 billion revolving credit facility. The offering is expected to close on June 12, 2024, subject to customary conditions. The notes will be available to qualified institutional buyers and overseas investors under specific regulations.

Brink's Company (NYSE:BCO) announced its plan to offer $400 million in senior unsecured notes with a 5-year term. The proceeds will be used to redeem or repurchase the company's outstanding 5.500% Senior Notes due 2025 and temporarily repay amounts under its $1 billion revolving credit facility. These notes are not registered under the Securities Act of 1933 and will only be offered to qualified institutional buyers.

The Brink's Company (NYSE:BCO) announced strong first-quarter results with a 4% revenue growth and 12% organic growth. GAAP net income increased by 229% to $49M, adjusted EBITDA surged by 15% to $218M, and EPS grew by 263% to $1.09. Non-GAAP EPS rose by 20% to $1.52. The company's TTM GAAP Net Cash from Operations increased by 56% to $800M, with non-GAAP Free Cash Flow up 61% to $363M. First-quarter results showcased robust organic revenue growth, with AMS and DRS segments seeing significant acceleration. Adjusted EBITDA margins expanded by 160 basis-points, reflecting the highest first-quarter margins reported. With a positive outlook for 2024, the company is confident in its value proposition and ability to deliver shareholder value.

The Brink's Company (NYSE:BCO) has declared a 10% increase in its regular quarterly dividend on common stock, from 22 cents per share to 24.25 cents per share. The dividend will be payable on June 3, 2024, to shareholders of record on May 13, 2024. Mark Eubanks, president and CEO, highlighted the company's operational performance, future outlook, and commitment to shareholder value.