Brink's Backs FY24 Outlook; Q2 Adj. EPS Tops Estimates, But Revenues Miss
(RTTNews) - While reporting financial results for the second quarter on Wednesday, The Brink's Co. (BCO) maintained its earnings and revenue guidance for the full-year 2024.
For fiscal 2024, the company continues to project earnings from continuing operations attributable to Brink's in the range of $7.30 to $8.00 per share on revenues between $5.075 billion and $5.225 billion.
On average, three analysts polled by Thomson Reuters expect the company to report earnings of $7.59 per share on revenues of $5.14 billion for the year. Analysts' estimates typically exclude special items.
For the second quarter, net income from continuing operations soared to $46 million or $1.03 per share from $32 million or $0.68 per share in the prior-year quarter. Excluding items, adjusted net income from continuing operations was $1.67 per share, compared to $1.27 per share last year.
Revenue for the quarter grew 3 percent to a record of $1.25 billion from $1.22 billion in the same quarter last year. Organic revenues increased 14 percent.
The Street was looking for earnings of $1.47 per share on revenues of $1.26 billion for the quarter.
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