A strong Q2 for Brinks, led by strategic objectives

RICHMOND, Va. — The Brink’s Company posted an impressive second quarter for 2024 thanks to growth in its ATM managed services (AMS) and digital retail solutions (DRS), as well as continued margin expansion in North America. 

Brinks saw record revenue growth of 3% in the second quarter and organic revenue growth of 14%, including accelerating organic growth of 26% for AMS/DRS, and margin increase of 360 basis points. 

“We continue to make meaningful progress executing against our strategy,” said Mark Eubanks, president and CEO. “DRS and AMS continue to grow as a percent of our total revenue exceeding $1.1 billion of revenue on our trailing 12-month basis. Demanding these key business lines remained strong as evidenced by the 26% organic growth in the quarter. We continue to sell these innovative tech-enabled solutions into both under-served and under-penetrated markets across all of our segments and are encouraged by building customer demand in our growing pipeline.” 

While Eubanks did not break out earnings for individual segments earnings, such as home security, he noted that all segments delivered accelerated growth in the quarter, not just AMS/DRS, offering a slight tailwind relative to the company’s expectations and a welcome offset from a $12 million dollar increase in security losses the prior year.  

“I am confident we remain on the right strategic path and am encouraged by the pace in which we are transforming our business for future success,” he said. “Central bank policies and current year election cycles, including here in the U.S., continue to be dynamic. The recent trends of the strengthening U.S. dollar impacted our results in the second quarter and remain fluid in the back half of the year. Considering these market dynamics, our strong results in the first half are that much more impressive – thanks to the dedication and performance of our over 68,000 worldwide employees.” 

The full quarterly report is available online at investors.brinks.com.