Brink's Q4 Earnings Beat Expectations, Sets Optimistic Targets For 2024
Portfolio Pulse from Anusuya Lahiri
Brink's Company (NYSE:BCO) reported Q4 fiscal 2023 earnings with a 5% year-on-year sales growth to $1.246 billion, slightly missing analyst estimates. Adjusted EPS of $2.76 exceeded expectations. Revenue varied across regions, with North America seeing a decrease, while Latin America and Europe experienced growth. Adjusted operating profit and EBITDA saw year-on-year increases. The company has set optimistic targets for FY24, expecting mid-single digit revenue growth and adjusted EPS of $7.30 - $8.00. The Schwab Ariel ESG ETF (NYSE:SAEF), with 3% exposure to Brink's, gained about 5% last month. BCO shares were up 2.5% following the announcement.
February 29, 2024 | 4:56 pm
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POSITIVE IMPACT
Brink's reported a slight miss on Q4 sales but exceeded EPS expectations. The company has optimistic FY24 targets, expecting mid-single digit revenue growth and adjusted EPS of $7.30 - $8.00.
The positive earnings report and optimistic future targets are likely to instill confidence in investors, potentially leading to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The Schwab Ariel ESG ETF, with 3% exposure to Brink's, gained about 5% last month, potentially benefiting from Brink's positive earnings report.
Given SAEF's exposure to Brink's, the positive earnings report from Brink's could contribute to continued positive performance for the ETF in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70