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IIIIIBRINKS Brink's Reports Second - Quarter Results July 22 , 2021 Strong Growth in Revenue , Operating Profit , Adjusted EBITDA and Net Income Growth Strategy and 2023 Targets to be Provided at Investor Day in Early December 2Q Highlights : • Total revenue up 27 % as 15 % organic growth and acquisitions more than offset extended pandemic - related shutdowns , primarily in Europe and Latin America • Operating profit : GAAP $ 73M vs year - ago loss ; non - GAAP up 51 % to $ 111M . Operating margin : GAAP 7.0 % , up 710 bps ; non - GAAP up 160 bps to 10.5 % • GAAP net income $ 24M , up 85 % ; Adjusted EBITDA up 39 % to $ 166M • EPS : GAAP up 74 % to $ .47 ; non - GAAP up 62 % to $ 1.18 RICHMOND , Va . , July 22 , 2021 ( GLOBE NEWSWIRE ) -- The Brink's Company ( NYSE : BCO ) , the global leader in total cash management , route - based secure logistics and payment solutions , today announced results for the second quarter of 2021 , which are summarized below . ( In millions , except for per share amounts ) Second - Quarter 2021 Revenue Operating Profit Operating Margin Net Income / Adjusted EBITDA ( a ) EPS Constant GAAP Change $ $ 1,049 73 7.0 % 27 % $ fav $ 710 bps Non - GAAP 1,049 111 10.5 % Change Currency Change ( b ) 27 % 51 % 22 % 48 % 160 bps 180 bps EA EA $ 24 $ 0.47 85 % $ 74 % $ 166 39 % 35 % 1.18 62 % 56 % ( a ) The non - GAAP financial metric , adjusted EBITDA , is presented with its corresponding GAAP metric , net income attributable to Brink's . ( b ) Constant currency represents 2021 results at 2020 exchange rates . Doug Pertz , president and chief executive officer , said : " Our second - quarter results clearly demonstrate the strong recovery of our business from the pandemic - related lows of 2020. On a comparable basis , in local currency , second - quarter revenue has recovered to 97 % of 2019 pre - Covid levels , 92 % on a U.S. dollar basis . We expect continued revenue recovery in the second half to provide a strong jumping off point for 2022 , when our full - year revenue is expected to exceed comparable 2019 pre - Covid revenue levels . Our preliminary targets for 2022 continue to include adjusted EBITDA growth in the mid - teens to a range between $ 785 million and $ 825 million , and free cash flow growth to a range between $ 350 million and $ 400 million , or approximately 50 % of adjusted EBITDA . " Our strong results thus far in 2021 reflect the resiliency of our business and the continuing strength of global cash usage , despite the unexpected extension of pandemic - related shutdowns , most notably in Europe and Latin America . Given the year - to - date impact of the pandemic , and the uncertainty regarding its future impact , we now expect full - year 2021 revenue growth in the mid - to - high teens , which is in the lower half of our guidance range . We continue to expect earnings to be around the mid - point of the range , reflecting higher margins . " We expect margin expansion to continue into 2022 , when we expect to add another layer of organic growth with new digital solutions that make cash easier to manage , safer and more efficient for both retailers and financial institutions . We look forward to sharing the details behind our core and digital strategies , including 2023 financial targets , during our Investor Day event in early December . " Conference Call Brink's will host a conference call on July 22 at 8:30 a.m. ET to review second - quarter results . Interested parties can listen by calling 888-349-0094 ( in the U.S. ) or 412-902-0124 ( international ) . Participants can pre - register at https://dpregister.com/sreg/10158231/ea8fa6812a to receive a direct dial - in number for the call . The call also will be accessible live via webcast on the Brink's website ( www.brinks.com ) . A replay of the call will be available through August 22 , 2021 at 877-344-7529 ( in the U.S. ) or 412-317-0088 ( international ) . The conference number is 10158231. An archived version of the webcast will be available online in the Investor Relations section of http://investors.brinks.com . 2021 Guidance ( Unaudited ) ( In millions , except for percentages and per share amounts ) 2021 GAAP Outlook ( b ) Reconciling Items ( a ) Revenues $ Operating profit EPS from continuing operations attributable to Brink's $ 4,200 - 4,600 364-454 2.20 -3.25 102 2.15-2.30 2021 Non - GAAP Outlook ( a ) 4,200 - 4,600 466-556 4.35 -5.55