Brinks reports 18% rise in adjusted earnings on global growth
The security services provider reported non-GAAP earnings per share of $2.13 for the second quarter.
Brinks (BCO), the global security and cash management company, reported second-quarter non-GAAP earnings per share of $2.13, an 18% increase from the prior year.
The results were driven by a combination of organic growth in specialized services and expanding margins in international markets. The company's non-GAAP adjusted EBITDA rose 11% year-over-year to $257 million.
Revenue for the quarter grew 7% to $1,392 million, though the increase was 4% when measured on a constant currency basis. The company's non-GAAP operating profit margin expanded 100 basis points to 13.6%. However, the GAAP operating profit margin compressed 70 basis points to 9.6%.
Growth was led by the Rest of World division, where revenue rose 16% and operating profit increased 36%. Latin America revenue grew 10%, while Europe saw a 5% increase in revenue and a 21% rise in operating profit. North America revenue grew 2%.
Organic revenue growth for the company's AMS/DRS segment has remained in the mid-teens or greater for 14 consecutive quarters. This performance contributed to a trailing-twelve-month free cash flow of $468 million, an increase of $32 million.
Brinks accelerated the timeline for its acquisition of NCR Atleos, with an estimated close now set for early first quarter 2027 following regulatory clearances in India, Brazil, and the U.S.. The company expects to realize approximately $200 million in run-rate synergies from the transaction.
For the third quarter of 2026, the company expects revenue between $1,365 million and $1,415 million. Brinks guides non-GAAP adjusted EBITDA between $263 million and $283 million, and non-GAAP EPS between $2.23 and $2.63.