RICHMOND, Va., May 06, 2026 (GLOBE NEWSWIRE) -- The Brink's Company (NYSE:BCO), a leading global provider of cash and valuables management, digital retail solutions ("DRS"), and ATM managed services ("AMS"), today announced first-quarter results.
Mark Eubanks, president and CEO, said: "We delivered a strong first quarter, as we continue to make progress against our strategic priorities. Double-digit top-line growth featured strong performance in the higher-margin AMS, DRS and global services lines of business. Favorable revenue mix, good pricing discipline, and continued cost productivity drove EBITDA margin expansion in the quarter. We continue to deliver sustainable improvements in cash generation with trailing-twelve-month free cash flow surpassing $500 million in the quarter for the first time in our history."
"With the registration statement filed last week, we continue to make progress on our acquisition of NCR Atleos. We have a dedicated integration management team that is working to plan and prepare for execution on our $200M annual run-rate cost synergy targets and will eventually lead the synergy capture and integration in the combined company. The regulatory approval process is well underway and progressing as expected. We remain on track for closing by the end of the first quarter of 2027 and are excited about the value creation potential of the combination."
First-quarter results are summarized in the following table:
(In millions, except for per share amounts)
First-Quarter 2026 (vs. 2025)
GAAP
Change
Non-GAAP
Change
Constant Currency Change(b)
Revenue
$
1,375
10
%
$
1,375
10
%
5
%
Operating Profit
$
110
(7
)%
$
168
12
%
7
%
Operating Profit Margin
8.0
%
(160 bps
)
12.2
%
10 bps
30 bps
Net Income / Adjusted EBITDA(a)
$
32
(38
%)
$
238
10
%
6
%
EPS
$
0.77
(35
%)
$
1.80
11
%
4
%
(a) The non-GAAP financial metric, adjusted EBITDA, is presented with its corresponding GAAP metric, net income attributable to Brink's.(b) Constant currency represents 2026 Non-GAAP results at 2025 exchange rates.
2026 Non-GAAP Framework and Q2 2026 Non-GAAP Guidance (Unaudited)(In millions, except for percentages and per share amounts)
In 2026, management has included additional guidance to better help investors understand currency impacts on our results. Management believes organic revenue growth, adjusted EBITDA margin expansion and free cash flow conversion performance, provided in our 2026 framework, gives investors better visibility into the performance of our business. In addition to our full-year 2026 framework, we have added quarterly guidance for revenue, adjusted EBITDA and non-GAAP EPS in 2026 to clarify the expected impact of near-term currency trends and volatile economic conditions on our results. When, and if, currency volatility lessens, management may return to the previous annual guidance methodology. Revenue guidance is presented in accordance with GAAP.
2026 Non-GAAP Framework
Organic Revenue Growth
Mid-Single Digits
AMS/DRS Organic Revenue Growth
Mid-to-High Teens
Adjusted EBITDA Margin Expansion
30-50bps
Free Cash Flow Conversion
40-45%
Q2 2026 Guidance
Revenue
$1,370 - $1,430
Non-GAAP Adjusted EBITDA
$245 - $265
Non-GAAP EPS
$1.85 - $2.25
The Q2 2026 non-GAAP guidance cannot be reconciled to GAAP without unreasonable effort, as we are unable to accurately forecast certain amounts that are necessary for reconciliation, including the impact of highly inflationary accounting on our Argentina operations, expenses relating to M&A transactions that may or may not occur in the quarter, and other potential non-GAAP adjusting items for which the timing and amounts are uncertain. The Q2 2026 non-GAAP guidance assumes the continuation of current economic trends and reflects management's current assumptions regarding variables that are difficult to accurately forecast, including those discussed in the Risk Factors set forth in the Company's filings with the United States Securities and Exchange Commission.
Conference CallBrink's will host a conference call on Wednesday, May 6, 2026, at 9:00 a.m. (EDT) to review first-quarter financial results. The conference call can be accessed by calling 888-349-0094 (in the U.S.) or 412-902-0124 (international). Participants should join at least five minutes prior to the start of the call. Participants can pre-register at https://dpregister.com/sreg/10208418/103d8e3323a to receive a direct dial-in number for the call. The call will also be accessible at https://event.choruscall.com/mediaframe/webcast.html?webcastid=WtFtsDVo. A replay of the call will be available through May 13, 2026, at (855) 669-9658 (in the U.S.) or (412) 317-0088 (international). The conference access code is 5852169. An archived version of the webcast will also be available on our website at http://investors.brinks.com.
The Brink's Company and subsidiaries (In millions, except for per share amounts) (Unaudited)
Condensed Consolidated Balance Sheets
December 31, 2025
March 31, 2026
Assets
Current assets:
Cash and cash equivalents
$
1,725.9
1,547.3
Restricted cash
541.0
548.2
Accounts receivable, net
766.0
833.3
Prepaid expenses and other
296.1
346.1
Total current assets
3,329.0
3,274.9
Right-of-use assets, net
388.7
392.7
Property and equipment, net
1,130.5
1,116.1
Goodwill
1,515.3
1,508.7
Other intangibles, net
385.2
368.3
Deferred tax assets, net
237.3
240.4
Other
353.2
374.3
Total assets
$
7,339.2
7,275.4
Liabilities and Equity
Current liabilities:
Short-term borrowings
241.1
229.2
Current maturities of long-term debt
163.1
92.8
Accounts payable
319.3
307.8
Accrued liabilities
1,180.2
1,218.8
Restricted cash held for customers
294.2
290.9
Total current liabilities
2,197.9
2,139.5
Long-term debt
3,810.1
3,833.9
Accrued pension costs
147.8
148.9
Retirement benefits other than pensions
120.4
116.4
Lease liabilities
310.2
310.6
Deferred tax liabilities
66.5
62.6
Other
279.0
270.4
Total liabilities
6,931.9
6,882.3
Equity:
The Brink's Company ("Brink's") shareholders:
Common stock, par value $1 per share:
Shares authorized: 100.0
Shares issued and outstanding: 2026 - 41.2; 2025 - 41.1
41.1
41.2
Capital in excess of par value
632.1
619.4
Retained earnings
270.1
265.6
Accumulated other comprehensive income (loss)
(665.6
)
(664.2
)
Brink's shareholders
277.7
262.0
Noncontrolling interests
129.6
131.1
Total equity
407.3
393.1
Total liabilities and equity
$
7,339.2
7,275.4
The Brink's Company and subsidiaries (In millions) (Unaudited)
Condensed Consolidated Statements of Cash Flows
Three Months Ended March 31,
2025
2026
Cash flows from operating activities:
Net income
$
53.9
34.8
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization
70.7
79.7
Share-based compensation expense
5.7
7.1
Deferred income taxes
0.3
(8.7
)
(Gain) loss on marketable securities, sale of property and equipment and derivatives
(8.6
)
1.6
Impairment losses
1.6
0.5
Retirement benefit funding (more) less than expense:
Pension
(1.0
)
1.2
Other than pension
(4.1
)
(4.6
)
Unrealized foreign currency losses
15.6
0.6
Other operating
(5.6
)
2.0
Changes in operating assets and liabilities, net of effects of acquisitions:
Increase in accounts receivable and income taxes receivable
(53.1
)
(78.1
)
Increase (decrease) in accounts payable, income taxes payable and accrued liabilities
(91.1
)
4.4
Increase (decrease) in restricted cash held for customers
(45.0
)
3.2
Increase in customer obligations
38.9
30.0
Increase in prepaid and other current assets
(27.5
)
(31.1
)
Other
(10.9
)
(13.9
)
Net cash provided by (used in) operating activities
(60.2
)
28.7
Cash flows from investing activities:
Capital expenditures
(58.9
)
(40.1
)
Acquisitions, net of cash acquired
(5.3
)
—
Marketable securities:
Purchases
(12.7
)
(18.8
)
Sales
14.3
18.4
Cash proceeds from sale of property and equipment
2.6
3.3
Net change in loans held for investment
1.6
1.5
Net change in economic hedges
9.0
(1.2
)
Other
0.7
0.7
Net cash used in investing activities
(48.7
)
(36.2
)
Cash flows from financing activities:
Borrowings (repayments) of debt:
Short-term borrowings
(16.5
)
(11.3
)
Long-term revolving credit facilities:
Borrowings
3,620.0
4,589.1
Repayments
(3,627.0
)
(4,628.3
)
Other long-term debt:
Borrowings
8.1
5.6
Repayments
(28.4
)
(27.5
)
Acquisition of noncontrolling interest
(6.6
)
—
Debt financing costs
(0.8
)
(20.6
)
Repurchase shares of Brink's common stock
(44.8
)
(30.2
)
Dividends to:
Shareholders of Brink's
(10.4
)
(10.5
)
Noncontrolling interests in subsidiaries
(0.4
)
(0.2
)
Proceeds from exercise of stock options
—
0.2
Tax withholdings associated with share-based compensation
(17.3
)
(18.1
)
Net cash used in financing activities
(124.1
)
(151.8
)
Effect of exchange rate changes on cash
32.9
(12.1
)
Cash, cash equivalents and restricted cash:
Decrease
(200.1
)
(171.4
)
Balance at beginning of period
1,840.4
2,266.9
Balance at end of period
$
1,640.3
2,095.5
Supplemental Cash Flow Information
Three Months Ended March 31,
2025
2026
Cash paid for income taxes, net
$
(28.3
)
(30.4
)
Cash paid for interest
(52.9
)
(55.9
)
Proceeds from lessor debt financing
8.1
3.2
The Brink's Company and subsidiaries(In millions, except for per share amounts) (Unaudited)
First-Quarter 2026 vs. 2025
Impact of
% Change
GAAP
Organic
Acquisitions /
Currency
Organic
1Q'25
Change(a)
Dispositions(b)
Effect(c)
1Q'26
Total
Growth(a)
Revenues:
North America
$
418
20
—
2
440
5
5
Latin America
308
11
1
24
344
12
4
Europe
319
11
1
35
366
15
3
Rest of World
203
13
—
10
226
12
7
Segment revenues
$
1,247
56
2
71
1,375
10
4
Revenues
$
1,247
56
2
71
1,375
10
4
Operating profit:
North America
$
53
8
—
—
61
15
15
Latin America
54
1
—
3
57
6
2
Europe
28
8
1
4
40
42
27
Rest of World
47
6
—
2
55
17
13
Segment operating profit
