Company: BCO
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000078890-25-000059
Chunk: 211

Company: BRINKS CO
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 211
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 compromising safety, security, or service.

Operating results may vary from period to period. Our cash and valuables management revenues are generated from charges per service performed or based on the value of goods transported, which may be affected by both the level of economic activity and the volume of business for specific customers. We also periodically incur costs to change the scale of our operations when volumes increase or decrease. Incremental costs incurred usually relate to increasing or decreasing the number of employees and increasing or decreasing branches or administrative facilities. In addition, security costs can vary depending on performance, the cost of insurance coverage, and changes in crime rates (e.g., attacks and robberies).

Brink’s revenues and related operating profit are generally higher in the second half of the year, particularly in the fourth quarter, due to generally increased economic activity associated with the holiday season.

22

RESULTS OF OPERATIONS

Analysis of Results

Consolidated Results

Years Ended December 31,% change(In millions, except for percentages and per share amounts)20242023202220242023GAAP   Revenues$5,011.9 4,874.6 4,535.5 3 7 Cost of revenues3,743.1 3,707.1 3,461.9 1 7 Selling, general and administrative expenses834.5 688.1 687.0 21 — Operating profit453.0 425.2 361.3 7 18 Operating profit margin9.0 %8.7 %8.0 %favfavIncome from continuing operations(a)161.8 86.0 173.5 88 (50)Diluted EPS from continuing operations(a)$3.61 1.83 3.63 97 (50)Non-GAAP(b)     Non-GAAP operating profit629.4 615.0 550.3 2 12 Non-GAAP operating profit margin12.6 %12.6 %12.1 %— favNon-GAAP income from continuing operations(a)321.4 344.6 286.4 (7)20 Adjusted EBITDA911.9 867.2 788.3 5 10 Non-GAAP diluted EPS from continuing operations(a)7.17 7.35 5.99 (2)23 

(a)Amounts reported in this table