Company: BCO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000078890-25-000253
Chunk: 33

Company: BRINKS CO
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 33
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 million).

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

Non-GAAP Consolidated Operating Profit and Non-GAAP Operating Profit Margin Non-GAAP operating profit margin increased from 12.1% to 12.4%. Non-GAAP operating profit increased $14.5 million due mainly to:

• organic increases in North America ($15.1 million), Rest of World ($10.7 million), and Europe ($6.0 million),

• lower corporate expenses on an organic basis ($3.1 million), and

• the favorable impact of acquisitions ($1.4 million)

partially offset by:

• unfavorable changes in currency exchange rates ($20.6 million), driven primarily by the Mexican peso, Argentine peso, and Brazilian real, and

• organic decreases in Latin America ($1.2 million).

Non-GAAP Consolidated Income from Continuing Operations Attributable to Brink’s and Related Per Share Amounts Non-GAAP income from continuing operations attributable to Brink’s shareholders decreased $10.0 million to $145.4 million due to higher income tax expense ($10.8 million), lower interest and other nonoperating income ($8.9 million), and higher interest expense ($6.1 million), and partially offset by the operating profit increase mentioned above, and lower noncontrolling interest ($1.3 million). Earnings per share from continuing operations was $3.38, down from $3.44 in the first six months of 2024.

Adjusted EBITDA Adjusted EBITDA increased 1% to $447.0 million primarily due to the increase in Non-GAAP operating profit ($14.5 million).

Revenues and Operating Profit by Segment: Second Quarter 2025 versus Second Quarter 2024

                                                             Organic Change (a)      Impact of Acquisitions / Dispositions (b)      Currency Effect (c)                  % Change                          
  (In millions, except for percentages)          2Q'24                                                                                                        2Q'25         Total      Organic Growth (a)  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenues:                                                                                                                                                                                                
  North America                                  $                         22.6      —                                                            (0.3)       434.3             5                       5  
  Latin America                                  331.7                     24.7      3.1                                                         (40.1)