Brink's (BCO) Tops Q2 EPS by 79c

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Brink's Reports Second-Quarter Results

July 29, 2020 6:00 AM EDT

EPS: GAAP $.27 vs. $.25; non-GAAP $.67 vs $.86Strong revenue recovery (excl. G4S acquisition) from 29% decline at April low point to 14% decline in June; organic decline of 21% in April versus 7% decline in JuneReported revenue down 10% vs 2019, down 17% organically, flat in constant currencyNegative currency translation impact of $86 million (9%) on revenue; operating profit impact: GAAP $13 million (25%), non-GAAP $18 million (20%)Operating profit: GAAP ($1 million), (.1%) margin; non-GAAP $73 million, margin 8.9%, 10% constant currencyGAAP net income $13 million; Adjusted EBITDA $125 million (15.2% margin)Variable and fixed cost reductions greater than expectedG4S acquired... More