Brink’s Fourth-Quarter Profit Expected to Exceed High End of Guidance

Earnings Report on February 23 to Include New Segment Reporting

RICHMOND, Va., Jan. 21, 2021 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced that it expects fourth-quarter 2020 revenue of approximately $1.02 billion. Fourth-quarter 2020 operating profit is expected to exceed the high end of the company’s October 29 guidance range (GAAP $64 million to $79 million; non-GAAP $104 million to $119 million). 

Doug Pertz, president and chief executive officer, said: “Our preliminary fourth-quarter non-GAAP results reflect continued revenue recovery and margin rate expansion, driven by sustainable cost reductions. While we continue to operate in a challenging near-term environment due to the persistence of the pandemic, we are very encouraged by these results. We expect continued margin expansion in 2021 and look forward to providing our initial outlook for next year when we release final 2020 results on February 23, which will include a change in segment reporting related primarily to the incorporation of our G4S cash operations.”

Brink’s will release final 2020 results prior to hosting a conference call on Tuesday, February 23, at 8:30 a.m. (ET). Results will reflect four geographic segments including North America (U.S. & Canada), Latin America (including Mexico), Europe and Rest of World. Comparable historical data under the new segment reporting structure will also be disclosed. Previously, Brink’s reported results from three geographic segments-- North America, South America and Rest of World.

The conference call can be accessed by calling 888-349-0094 (in the U.S.) or 412-902-0124 (international). Participants should call in at least five minutes prior to the start of the call. Participants can pre-register at https://dpregister.com/sreg/10151538/e1068759fa to receive a direct dial-in number for the call. The call also will be accessible via live webcast at https://services.choruscall.com/links/bco210223.html.

A replay of the call will be available through March 23, 2021, at [phone] (in the U.S.) or [phone] (international). The conference number is 10151538. A webcast replay will also be available at www.investors.brinks.com.

Non-GAAP Results Reconciled to GAAP (Unaudited)
(In millions)

Non-GAAP results described in this press release are financial measures that are not required by or presented in accordance with U.S. generally accepted accounting principles (“GAAP”). The purpose of the Non-GAAP results is to report financial information from the primary operations of our business by excluding the effects of certain income and expenses that do not reflect the ordinary earnings of our operations. The Non-GAAP financial measures are intended to provide investors with a supplemental comparison of our operating results and trends for the periods presented. Our management believes these measures are also useful to investors as such measures allow investors to evaluate our performance using the same metrics that our management uses to evaluate past performance and prospects for future performance. We do not consider these items to be reflective of our core operating performance due to the variability of such items from period-to-period in terms of size, nature and significance. Additionally, Non-GAAP results are utilized as performance measures in certain management incentive compensation plans.