Cash Handling Company Brink's Reports Solid Profit Margins, Thanks To Cost Initiatives
Portfolio Pulse from Shivani Kumaresan
Brink's Company (NYSE:BCO) reported Q3 FY23 sales growth of 8% YoY to $1.227 billion, slightly beating the analyst consensus estimate. Revenue from North America slipped 1%, Latin America increased 13%, and Europe jumped 31%. Non-GAAP operating profit rose 31% YoY to $166 million. The company held $1.32 billion in cash and equivalents as of September 30, 2023. The Brink's Board approved a new $500 million share repurchase authorization expiring on December 31, 2025. BCO shares traded higher by 7.43% at $75.89 on the last check Tuesday.
November 07, 2023 | 5:05 pm
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Brink's Company reported strong Q3 FY23 results, beating analyst consensus, and announced a $500 million share repurchase. BCO shares traded higher by 7.43%.
Brink's Company reported strong Q3 FY23 results, with sales growth of 8% YoY, beating the analyst consensus. The company also announced a $500 million share repurchase, which is generally viewed positively by the market as it indicates the company's confidence in its own stock. This news led to a 7.43% increase in BCO shares, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100