RICHMOND, Va., June 12, 2024 (GLOBE NEWSWIRE) -- The Brink's Company (NYSE:BCO) (the "Company") today announced that it has closed its previously announced offering of 5-year and 8-year senior unsecured notes in aggregate principal amounts of $400 million and $400 million, respectively. The notes were priced at par, will mature on June 15, 2029 and June 15, 2032, respectively, and bear an annual interest rate of 6.500% and 6.750%, respectively. Kurt McMaken, executive vice president and CFO, said: "We are ...

Core Viewpoint - The Brink's Company has successfully closed an offering of senior unsecured notes totaling $800 million, aimed at refinancing existing debt and enhancing liquidity while maintaining leverage within targeted ranges [1]. Group 1: Financial Details - The offering consists of two tranches: $400 million of 5-year notes maturing on June 15, 2029, with an interest rate of 6.500%, and $400 million of 8-year notes maturing on June 15, 2032, with an interest rate of 6.750% [1]. - The net proceeds from the offering will be used to redeem or repurchase $400 million of outstanding 5.500% Senior Notes due 2025 and to repay a portion of borrowings under a $1 billion revolving credit facility [1]. Group 2: Management Commentary - The executive vice president and CFO expressed satisfaction with the refinancing results, highlighting the extension and diversification of future debt maturities and the increase in liquidity [1]. - The company does not anticipate a significant impact on its 2024 interest expense or existing EPS guidance as a result of this transaction [1]. Group 3: Company Overview - The Brink's Company is a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services, serving customers in over 100 countries [3].

RICHMOND, Va., June 05, 2024 (GLOBE NEWSWIRE) -- The Brink's Company (NYSE:BCO) (the "Company") today announced the pricing of its offering of 5-year and 8-year senior unsecured notes in aggregate principal amounts of $400 million and $400 million, respectively. The notes will be issued at par, will mature on June 15, 2029 and June 15, 2032, respectively, and will bear an annual interest rate of 6.500% and 6.750%, respectively. The notes will be general unsecured obligations guaranteed by the Company's exis ...

RICHMOND, Va., June 05, 2024 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO) (the “Company”) today announced the pricing of its offering of 5-year and 8-year senior unsecured notes in aggregate principal amounts of $400 million and $400 million, respectively. The notes will be issued at par, will mature on June 15, 2029 and June 15, 2032, respectively, and will bear an annual interest rate of 6.500% and 6.750%, respectively. The notes will be general unsecured obligations guaranteed by the Company’s exis ...

Company Overview - The Brink's Company (NYSE:BCO) is a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services, serving customers in over 100 countries through operations in 52 countries [3] Financial Offering - The Company intends to offer $400 million aggregate principal amount of 5-year senior unsecured notes, subject to market and other conditions [1] - The net proceeds from the offering will be used to redeem or repurchase the $400 million aggregate principal amount of its outstanding 5.500% Senior Notes due 2025, and temporarily repay amounts outstanding under its $1 billion revolving credit facility [1] Regulatory Information - The notes will not be registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers and non-U.S. persons [2]

RICHMOND, Va., June 04, 2024 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO) (the “Company”) today announced its intent to offer $400 million aggregate principal amount of 5-year senior unsecured notes, subject to market and other conditions. The notes will be general unsecured obligations guaranteed by the Company’s existing and future U.S. subsidiaries that are guarantors under the Company’s credit facility. The Company expects to use the net proceeds from the offering of the notes and cash on hand to ...

Did you analyze how Brink's (BCO) fared in its international operations for the quarter ending March 2024? Given the widespread global presence of this armored car company, scrutinizing the trends in international revenues becomes imperative to assess its financial strength and future growth possibilities.In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and trajectory of growth. For in ...

First-Quarter 2024 Earnings May 8, 2024 Safe Harbor Statements and Non-GAAP Results These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project," “model”, "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to, information regarding: 2024 outlook, including revenue, adjusted EBITDA ...

Financial Data and Key Metrics Changes - The company reported organic growth of 12% for Q1 2024, with adjusted EBITDA growing 15% to $218 million and margins expanding 160 basis points to 17.7%, the highest first-quarter margins in over a decade [6][7][11] - Earnings per share (EPS) increased by 20% to $1.52, supported by profit growth and a reduction in share count by about 4% [7][11] - Trailing 12-month free cash flow improved by 61% to $363 million, with a conversion rate from adjusted EBITDA of 41% [8][11] Business Line Data and Key Metrics Changes - ATM Managed Services (AMS) and Digital Retail Solutions (DRS) grew by 18%, driven by strong demand [6][10] - Cash and Valuables Management (CVM) saw an 11% increase, supported by strong pricing discipline [6][10] - All segments reported organic growth, with North America achieving a record adjusted EBITDA margin of 16.9%, up 280 basis points [12][13] Market Data and Key Metrics Changes - North America experienced a sequential acceleration in organic revenue growth to 1%, with expectations for further growth as the company capitalizes on a larger pipeline [12][13] - Latin America reported organic growth of 37%, driven by pricing efforts to offset inflation [13][14] - Europe delivered 6% organic growth with margin expansion, supported by recent large DRS and AMS wins [14] Company Strategy and Development Direction - The company is focused on customer loyalty, innovation, operational excellence, and talent development, balancing long-term investments with short-term commitments [6] - A disciplined capital allocation approach is maintained, with a systematic share repurchase program and a 10% increase in dividends announced [9][24] - The company aims to shift its revenue mix towards higher-margin, faster-growing solutions, optimizing its business model for better asset utilization [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering full-year commitments, affirming guidance for low-to-mid teens organic revenue growth and adjusted EBITDA margin expansion [10][27] - The company is optimistic about the potential of transformational initiatives in routing, scheduling, and labor optimization to sustain positive momentum [13][28] - Management acknowledged ongoing geopolitical and economic headwinds in Latin America, particularly in Argentina and Brazil, while remaining focused on disciplined pricing strategies [13][14] Other Important Information - The company celebrated its 165th anniversary, highlighting a strong strategic plan and motivated workforce [29] - The impact of foreign exchange was noted, particularly the devaluation of the Argentine peso, which affected revenue growth [10][20] Q&A Session Summary Question: Can you elaborate on changes made to shorten the time from pipeline to contract signing? - Management discussed improvements in contract management and synchronization with supply chain processes to expedite agreements [32][34] Question: How does AMS growth compare to DRS growth, and where are the most opportunities? - Management indicated that growth was balanced between AMS and DRS, with significant opportunities in combined solutions, particularly in retail [36][37] Question: Can you quantify the extent of DRS migrations versus new sales to unvented customers? - Management stated that growth is balanced between unvented space and conversions from traditional CIT customers, with ongoing focus on expanding DRS offerings [40][41] Question: How does the company view its competitive position in the AMS market? - Management described the AMS market as nascent but expanding, emphasizing the company's unique value proposition in providing integrated solutions [44][45]

Brink's (BCO) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 23.58%. A quarter ago, it was expected that this armored car company would post earnings of $2.49 per share when it actually produced earnings of $2.76, delivering a surprise of 10.84%.Over the last four quarters, the compa ...