In This Article:
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Organic Growth: 11% in Q4 and 12% for the full year 2024.
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AMS/DRS Growth: 23% organic growth in both Q4 and the full year.
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CVM Growth: 7% in Q4 and 9% for the full year.
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EBITDA: $912 million for 2024, with a margin expansion of 40 basis points to 18.2%.
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EPS: $7.17, with a 4% reduction in share count year-over-year.
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Free Cash Flow: $400 million for the full year, over $300 million in Q4.
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Revenue: Exceeded $5 billion for the first time in company history.
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Adjusted EBITDA Growth: 11% on a constant currency basis.
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North America Organic Growth: 2% for the full year.
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Latin America Organic Growth: Down 2% due to FX volatility.
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Europe Organic Growth: 7% in 2024.
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DRS Device Base: Increased by 20% over the year.
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Fleet Reduction: Decreased by over 300 vehicles in 2024.
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Facility Count Reduction: Reduced by over 60 locations.
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Share Repurchases: $204 million spent, reducing share count by over 2.1 million shares.
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Net Leverage: Reduced to 2.8 times.
Release Date: February 26, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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The Brink's Co (NYSE:BCO) achieved total organic growth of 11% in Q4 and 12% for the full year 2024, with ATM managed services and digital retail solutions growing 23% organically.
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The company delivered a record high EBITDA margin of 18.2% in 2024, expanding by 40 basis points despite currency headwinds.
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Strong free cash flow generation was reported, with $400 million for the full year and over $300 million in Q4, driven by working capital efficiencies.
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The Brink's Co (NYSE:BCO) successfully executed a share repurchase program, reducing share count by approximately 4% and returning $250 million to shareholders.
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The company is focused on strategic growth, with AMS/DRS now representing 24% of total revenue and plans to increase this to 25-27% by year-end 2025.
Negative Points
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The Brink's Co (NYSE:BCO) faced a 10% currency headwind in Q4, primarily impacting the higher margin Latin American segment.
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EPS was down compared to the prior year due to the absence of a marketable security gain that benefited the previous year's results.
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The Latin American segment experienced a 2% decline in total revenue due to volatile FX conditions, with anticipated continued FX headwinds in 2025.
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The company expects a more normalized tax rate of 28% in 2025, up from 23% in 2024, which may impact net income.
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Interest expense increased by $8 million year-over-year, with expectations to remain flat in 2025, potentially affecting net earnings.