Brink’s reports Q3 EPS $1.51, consensus $1.79

Reports Q3 revenue $1.259B, consensus $1.27B. Mark Eubanks, president and CEO, said: “In the third quarter, we delivered strong 26% organic growth in AMS and DRS as we continue to stimulate customer demand for outsourcing with financial institutions and convert whitespace opportunities in retail. These higher-margin, recurring revenue businesses now represent over 23% of total company revenue and are expected to deliver over 20% organic growth in 2024. This growth was partially offset by a strengthening US dollar as well as cyclical market headwinds in our global services business. Profits reflect the flow through of these revenue items and the timing impact of a large security loss during the period. Cash generation has improved through better capital efficiency and working capital management. In the second half of the year, these improvements are being offset by unusual headwinds to free cash flow from foreign currency volatility and cash taxes.”