Brink's Maintains FY23 Outlook; Q2 Adj. EPS Misses Estimates

(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 2023.

For fiscal 2023, the company still projects earnings from continuing operations attributable to Brink's in the range of $6.45 to $7.15 per share on revenues between $4.80 billion and $4.95 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.80 per share on revenues of $4.91 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, net income attributable to the company edged up to $32 million or $0.68 per share from $35 million or $0.73 per share in the prior-year quarter. Excluding items, adjusted net income was $1.18 per share, compared to $1.34 per share last year.

Revenue for the quarter grew 7 percent to $1.22 billion from $1.13 billion in the same quarter last year. Organic revenues increased 8 percent.

The Street was looking for earnings of $1.33 per share on revenues of $1.21 billion for the quarter.

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