Brink(BCO)
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Brink(BCO) - 2020 Q3 - Quarterly Report
2020-10-29 19:46
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 001-09148 THE BRINK'S COMPANY (Exact name of registrant as specified in its charter) Virginia 54-1317776 (State or other j ...
Brink(BCO) - 2020 Q2 - Earnings Call Transcript
2020-07-29 20:48
Financial Data and Key Metrics Changes - The company reported a second quarter operating profit of $73 million, with an operating margin of 8.9%, down from 9.7% in the previous year, primarily due to a negative currency translation impact of $18 million [9][20][34] - Revenue for the second quarter was $826 million, a decline of 10% year-over-year, but flat on a constant currency basis, with organic revenue down 17% [19][33] - Adjusted EBITDA fell 6% to $125 million, reflecting a margin rate of 15.2%, which is an increase of 60 basis points compared to the same quarter last year [20][34] Business Line Data and Key Metrics Changes - The G4S acquisition contributed positively to the second quarter results, with $20 million of annualized synergies expected to be fully realized in 2021 [11][51] - The company experienced a 50% recovery in revenue from April to June, with total company revenue down 20% in April and up 3% in June [10][22] - U.S. revenue improved from a 24% decline in April to an 11% decline in June, indicating a strong recovery trend [10][24] Market Data and Key Metrics Changes - The company noted that cash in circulation has increased sharply since the onset of the pandemic, with annual growth rates between 5% and 7%, which is higher than historical rates [29][30] - The recovery in revenue was more pronounced in Europe and parts of Asia compared to the U.S., with European markets showing stronger recovery trends [66][68] Company Strategy and Development Direction - The company is focused on three priorities during the COVID-19 crisis: ensuring employee safety, protecting the business through cost reductions, and positioning for stronger growth post-crisis [16][18] - The company aims to achieve sustainable fixed cost reductions that will enhance margin leverage as revenue increases, with a target EBITDA margin improvement in 2021 [62][64] - The rollout of the company's strategy 2.0 initiatives is expected to provide additional revenue and margin growth opportunities [54][52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the revenue recovery, projecting that full-year 2021 revenue could recover to around 100% of 2019 levels or potentially higher [15][51] - The company acknowledged uncertainties regarding the pandemic's impact but emphasized that aggressive cost reductions and the G4S acquisition would support future profitability [47][52] - Management highlighted the stability of their customer base, particularly in financial institutions and essential retail, which has limited downside exposure during the pandemic [13][14] Other Important Information - The company expanded its liquidity to over $1.3 billion and amended debt covenants through the first quarter of 2024 to address investor concerns [11][45] - The company expects to maintain its quarterly dividends and has a strong credit rating, indicating resilience during the pandemic [45][46] Q&A Session Summary Question: Revenue trends since June - Management indicated that while specific revenue data post-June is not available, continued re-openings suggest additional revenue increases [57][58] Question: Cost actions and their impact on long-term EBITDA margins - Management elaborated that the $85 million in annualized savings includes sustainable fixed cost reductions, which will enhance long-term EBITDA margins [60][62] Question: Comparison of recovery in different regions - Management acknowledged that recovery has been stronger in Europe and parts of Asia compared to the U.S., but emphasized the overall positive trend in revenue recovery [66][68]
Brink(BCO) - 2020 Q2 - Quarterly Report
2020-07-28 23:36
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $1.00 per share BCO New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Co ...
The Brink's (BCO) Investor Presentation - Slideshow
2020-06-04 16:51
Crisis Management & Financial Health - Brink's prioritized employee and customer safety, cash preservation, and profitability optimization during the crisis[5] - In April 2020, revenue was down by 25%, expected to be the low point for the year, with sequential monthly improvement anticipated as businesses reopen[5] - The company closed an incremental $590 million Term Loan A on April 1, 2020, enhancing liquidity[15] - Approximately $800 million of liquidity was expected after the G4S acquisition[16] G4S Acquisition - The G4S acquisition was approximately 75% complete as of May 5, with the remainder expected to close before December 31, 2020[9] - The purchase price for G4S was $835 million, with pro forma revenue of $800 million and operating profit of $85 million[9] - The acquisition is expected to be accretive to non-GAAP earnings in 2020[9] - The purchase multiple is approximately 73x 2019 proforma adjusted EBITDA, with an expected post-synergy multiple of approximately 62x[9] Strategy & Market Opportunity - The global cash market is approximately $20 billion in 2020, with Brink's as a global market leader with $45 billion in revenue[7] - Strategy 10 and 20 initiatives are expected to accelerate growth[12] - Cash is the preferred payment method for 75% of global transactions[45] - Approximately 90% of US retail locations are unvended by the cash management industry, representing a significant opportunity[70]
Brink(BCO) - 2020 Q1 - Quarterly Report
2020-05-08 18:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $1.00 per share BCO New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ C ...
Brink(BCO) - 2020 Q1 - Earnings Call Transcript
2020-05-06 07:32
The Brink's Company (NYSE:BCO) Q1 2020 Earnings Conference Call May 5, 2020 4:30 PM ET Company Participants Ed Cunningham – Vice President-Investor Relations and Corporate Communications Doug Pertz – Chief Executive Officer Ron Domanico – Chief Financial Officer Rohan Pal – Chief Information Officer and Chief Digital Officer Conference Call Participants George Tong – Goldman Sachs Tobey Sommer – SunTrust Jeff Kessler – Imperial Capital Sam England – Berenberg Operator Welcome to The Brink's Company's First ...
Brink(BCO) - 2019 Q4 - Annual Report
2020-02-28 17:51
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number 001-09148 THE BRINK'S COMPANY (Exact name of registrant as specified in its charter) Virginia (State or other ...
Brink(BCO) - 2019 Q4 - Earnings Call Transcript
2020-02-06 19:41
The Brink's Company (NYSE:BCO) Q4 2019 Earnings Conference Call February 6, 2020 8:30 AM ET Company Participants Ed Cunningham - VP of IR, and Corporate Communications Douglas Pertz - CEO Ronald Domanico - CFO Conference Call Participants Sam England - Berenberg Jeff Kessler - Imperial Capital Operator Welcome to the Brink's Company's Fourth Quarter 2019 Earnings Call. Brink's issued a press release on fourth quarter results this morning. The company also filed an 8-K that includes the release and the slide ...