Brink's (BCO) Tops Q1 EPS by 2c; Affirms Guidance

Brink's (NYSE: BCO) reported Q1 EPS of $0.65, $0.02 better than the analyst estimate of $0.63. Revenue for the quarter came in at $89 million versus the consensus estimate of $785 million.

Brink’s affirmed its 2018 non-GAAP guidance, which includes revenue growth of 8% to approximately $3.45 billion, operating profit growth of at least 30% to a range between $365 million and $385 million, earnings growth to a range between $3.65 and $3.85 per share, and adjusted EBITDA growth of approximately $100 million to a range between $515 million and $535 million. For 2019, Brink’s continues to target $625 million of adjusted EBITDA.

The company’s 2018 guidance and 2019 adjusted EBITDA target assume annual organic revenuegrowth of approximately 5%, supplemented by contributions from the six acquisitions closed in 2017 and from Rodoban, which is expected to close around mid-year. Upon completion of the Rodoban acquisition, total expenditures on acquisitions since March 2017 will be approximately $510 million. These acquisitions are expected to generate adjusted EBITDA of $60 million to $70 million in 2018 and approximately $90 million with synergies through 2019, reflecting an average post-synergy purchase multiple of less than six.

For earnings history and earnings-related data on Brink's (BCO) click here.

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