Company: BCO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0000078890-25-000154
Chunk: 30

Company: BRINKS CO
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 30
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RESULTS OF OPERATIONS

Consolidated Review

                                                                                               %              
  (In millions, except for percentages and per share amounts)       2025                    2024      Change  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────
  GAAP                                                                                                        
  Revenues                                                             $      1,246.7                      1  
  Cost of revenues                                                 939.5                   927.2           1  
  Selling, general and administrative expenses                     186.3                   200.6         (7)  
  Operating profit                                                 119.1                   120.9         (1)  
  Operating profit margin                                            9.6                     9.8         (2)  
  Income from continuing operations (a)                             51.6                    49.3           5  
  Diluted EPS from continuing operations (a)                        1.19                    1.09           9  
  Non-GAAP (b)                                                                                                
  Non-GAAP operating profit                                            $        150.6      145.0           4  
  Non-GAAP operating profit margin                                  12.1                    11.7           3  
  Non-GAAP income from continuing operations (a)                    70.3                    74.6         (6)  
  Adjusted EBITDA                                                  215.0                   218.2         (1)  
  Non-GAAP diluted EPS from continuing operations (a)               1.62                    1.65         (2)  

(a) Amounts reported in this table are attributable to the shareholders of Brink’s and exclude earnings related to noncontrolling interests.

(b) These measures are supplemental financial measures that are not required by, or presented in accordance with, GAAP. See page 40

GAAP Basis

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

Consolidated Revenues Revenues increased $10.6 million due to organic increases in Latin America ($24.8 million), Rest of World ($19.0 million), Europe ($15.5 million), and North America ($9.9 million), and the favorable impact of acquisitions ($7.2 million), partially offset by the unfavorable impact of currency exchange rates ($65.8 million). The unfavorable currency impact was driven primarily by the Mexican peso, Argentine peso, and Brazilian real. Revenues increased 6% on an organic basis