Brink's (BCO) Misses Q4 EPS by 7c, Approves $250M Buyback, Offers Guidance

Brink's (NYSE: BCO) reported Q4 EPS of $1.18, $0.07 worse than the analyst estimate of $1.25. Revenue for the quarter came in at $938 million versus the consensus estimate of $955.09 million.

• New $250M Share Repurchase Program

GUIDANCE:

Brink's sees FY2020 EPS of $4.30-$4.50, versus the consensus of $4.64. Brink's sees FY2020 revenue of $3.8 billion, versus the consensus of $3.9 billion.

• Revenue: $3.8 billion, up ~3%, organic growth ~5%
• Operating profit: $420 million to $440 million, up ~10%
• Margin rate: 11.4%, up ~80 basis points
• Adjusted EBITDA: $600 million to $620 million, up ~8%
• EPS: $4.30 to $4.50, up ~13%
• Free cash flow before dividends: $230 million, up ~36%
• Assumptions include:
• Currency rates as of 12/31/19, except for Argentina
• Argentina negative profit impact vs 2019:
• $10 million based on an average peso of 76 per USD
• $5 million from expenses related to cash repatriation
• $20 million of operating expenses for Strategy 2.0 development, pilots and commercial start-up
• Estimated tax rate: 32.0%
• No impact from potential acquisitions included in guidance

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

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