Brink’s reports Q3 non-GAAP EPS $2.08, consensus $2.08

Reports Q3 revenue $1.34B, consensus $1.33B. Mark Eubanks, president and CEO, said: “We delivered a strong third quarter, above the midpoint of our previous guidance range. In line with our expectations, AMS and DRS growth accelerated quarter-over-quarter to 19% on customer conversions and healthy new additions to our portfolio. Our efforts to transform the business with the Brink’s (BCO) Business System are driving margin expansion with record third-quarter operating profit and EBITDA margins. We continue to improve cash generation, delivering a 30% increase to free cash flow year-over-year driven by improved profitability, improved working capital metrics, and lowered capex intensity. We remain committed to our capital allocation framework, lowering our leverage below three times and reducing our outstanding share count by 5% year-to-date, while making key investments in strategic acquisitions. Looking to the balance of the year and beyond, we plan to build upon strong momentum growing higher-margin subscription-based AMS / DRS revenue, expanding profit margins, and improving our cash conversion. I am proud of the progress we have made and am confident we are well positioned for additional growth as we penetrate large and growing addressable markets.”