Q2 2026 Brinks Co Earnings Call Transcript

Aug 5, 2026 / 01:00 PM GMT

Release Date Price: €102 (+2.51%)

Transcript 10-Q8-K

Key Points

Positve

The Brink's Co (BCO) delivered a strong second quarter with 4% organic growth and record second-quarter operating and EBITDA margins of 18.5%, up 70 basis points year-over-year.
AMS/DRS (ATM Managed Services and Digital Retail Solutions) grew 14% organically, marking the 14th consecutive quarter of mid-teens or better growth, with total revenue more than doubling to over $1.5 billion.
The company raised its full-year profit expectations due to year-to-date results exceeding original expectations, with EBITDA above the midpoint of prior guidance.
Significant progress on the NCR Atlios acquisition, including early termination from US antitrust regulators, clearances in multiple jurisdictions (Brazil, India, Turkey, Colombia, and most of the Eurozone), and over 99% shareholder support.
Strong cash flow generation with trailing 12-month free cash flow of $468 million and a conversion rate of 46%, above the full-year framework, driven by EBITDA growth and capital efficiency.
New major customer wins, including a large North American retail chain DRS enterprise agreement covering over 5,000 locations and a full ATM outsourcing deal with Mandiri Bank in Indonesia, supporting second-half growth expectations.

Negative

Organic growth in North America, Latin America, and Europe decelerated to about 2% in the quarter, partly due to customer-driven timing decisions pushing large installations and wins to the second half.
The pending NCR Atlios acquisition will temporarily push net leverage above 3 turns at close, requiring a focus on debt paydown and delaying the resumption of the prior capital allocation model.
The company faces ongoing regulatory hurdles for the NCR Atlios deal, including remaining antitrust clearances in some jurisdictions and money transmitter licensing requirements in the US, with closing not expected until early Q1 2027.
Foreign currency is expected to provide a smaller benefit for the full year (1.5% to 2.5%) than previously anticipated, due to recent changes in exchange rates.
The Argentinian peso continues to be a headwind, with depressed consumption in Argentina due to government austerity measures, impacting regional performance.
The company's full-year free cash flow conversion is still targeted at 40% to 45%, despite being ahead of that pace year-to-date, due to expected timing of cash tax payments, working capital, and CapEx.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BCO.N - The Brink's Company
Q2 2026 Brinks Co Earnings Call
Aug 05, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to The Brinks Company's second quarter 2026 conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.

After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touchtone phone. To withdraw your question, please press star then two. And please note this event is being recorded. This call and the Q&A session will contain forward-looking statements. Actual results could differ materially from projected or estimated results. Information regarding factors that could cause such differences are available in today's press release and

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