Company: BCO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0000078890-25-000154
Chunk: 31

Company: BRINKS CO
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 31
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 primarily due to inflation-based price increases and organic growth in AMS and DRS revenue. See our definition of “organic growth” on page 40

Consolidated Costs andExpenses Cost of revenues increased 1% to $939.5 million primarily due to the impact of higher revenue partially offset by the impact of exchange rates. Selling, general and administrative costs decreased 7% to $186.3 million primarily due the impact of currency exchange rates and lower net compensation costs, professional fees, and administrative expenses.

Consolidated Operating Profit and Operating Profit Margin Operating profit margin decreased from 9.8% to 9.6%. Operating profit decreased $1.8 million due mainly to:

• unfavorable changes in currency exchange rates ($19.2 million), driven by the Mexican peso, Argentine peso, and Brazilian real and

• the unfavorable impact of acquisitions ($2.8 million),

partially offset by:

• organic increases in Rest of World ($9.4 million), North America ($4.5 million), Latin America ($1.4 million), and Europe ($0.3 million) and

• lower corporate expenses on an organic basis ($4.9 million).

Consolidated Income from Continuing Operations Attributable to Brink’s and Related Per Share Amounts Income from continuing operations attributable to Brink’s shareholders increased $2.3 million to $51.6 million due to lower income tax expense ($10.6 million) and lower noncontrolling interest ($0.6 million), partially offset by lower interest and other nonoperating income ($5.4 million), the decrease in operating profit mentioned above, and higher interest expense ($1.7 million). Earnings per share from continuing operations was $1.19, up from $1.09 in the first quarter of 2024.

Non-GAAP Basis

Non-GAAP Financial Measures The non-GAAP measures included in the table above and the analysis below present our operating profit, operating profit margin, income from continuing operations and earnings per share without certain income and expense items that do not reflect the regular earnings of the Company's operations. These non-GAAP measures are described in more detail on page 40 42 44

Analysis of Consolidated Results: First Quarter 2025 versus First Quarter 2024

Non-GAAP Consolidated Operating Profit and Non-GAAP Operating Profit Margin Non-GAAP operating profit margin increased from 11.7% to 12.1%. Non-GAAP operating profit increased $5.6 million due mainly to: