Brink's (BCO) affirms its 2021 guidance

The Brink’s Company (NYSE: BCO) announced today that it affirmed its 2021 guidance including revenue growth of 21% to approximately $4.45 billion at the midpoint, which is up 10% on an organic basis. The company expects 2021 adjusted EBITDA growth of 25% to approximately $705 million. In 2022, management is targeting organic revenue growth of 5% to 7%, adjusted EBITDA growth in the mid-teens to a range between $785 million and $825 million, and free cash flow growth of more than 50% to a range between $350 million and $400 million. The company provided the update in advance of its June 8 participation in the 2021 Baird Global Consumer, Technology and Services Conference.

Doug Pertz, president and chief executive officer, said: “Based on improving economic trends in most of our major markets, and the continued strong use of cash as a major method of payment, we continue to expect an accelerating recovery from the global pandemic. On an organic basis, excluding the impact of acquisitions and foreign exchange, year-to-date revenue through April has recovered to 96% of pre-pandemic 2019 pro forma levels.

“We are particularly encouraged by the fact that our revenue recovery through April was achieved despite unforeseen pandemic-related shutdowns in several European and South American countries. We expect revenue and profit growth to accelerate as we move through 2021, especially in the second half. Our confidence is based on a continued global economic recovery, growing contributions from the G4S and PAI acquisitions, the impact of our cost reductions, and normal seasonality.

“Our 2021 guidance, and our expected post-pandemic return to mid-single-digit organic revenue growth and double-digit profit growth, are driven primarily by our core operations. Our strategy 2.0 digital initiatives, with the exception of the PAI acquisition, are not included in our current outlook for 2021 or 2022, though we expect these initiatives to drive additional organic revenue and profit growth in 2022 and beyond. We plan to disclose additional financial targets for 2022 and 2023 at our Investor Day event in November.”

You May Also Be Interested In

• Atlassian (TEAM) comes ahead of Street estimates in Q1 but shares tumble
• loanDepot (LDI) Appoints Jeff Wilkish as Regional VP for New England
• Applied DNA Sciences (APDN) Awarded Contract by HDT Bio For Rapid Vaccine Development Program