Brink's Company Increases 2023 Earnings Guidance

(RTTNews) - The Brink's Company (BCO) has increased its 2023 profit expectations to reflect further restructuring actions. EPS from continuing operations attributable to Brink's is now projected in a range of $6.45 - $7.15, revised from prior guidance range of $6.30 - $7.00.

First quarter non-GAAP EPS was $1.16 compared to $1.19, prior year. Analysts polled by Thomson Reuters expected the company to report profit per share of $1.09, for the quarter. Analysts' estimates typically exclude special items.

First quarter GAAP net income was $15 million, a decline of 79% from previous year. Earnings per share was $0.30, down 80% from prior year.

Revenues were $1.19 billion, an organic growth of 13%. Analysts on average had estimated $1.17 billion in revenue.

Mark Eubanks, president and CEO, said: "Our strong performance in the first quarter demonstrates continued positive momentum as we execute on our strategic priorities. Double-digit revenue growth was highlighted by robust gains in digital retail solutions and ATM managed services, as well as strong pricing discipline across the business."

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.