Brinks Co

NYSE:BCO

Revenue: Brink's reported a strong second quarter, with revenue up 7% and organic growth of 4%, helped by favorable foreign exchange and continued momentum in higher-margin AMS and DRS businesses.

Margins: EBITDA margin reached a record second-quarter 18.5%, up 70 basis points year over year, and management said the company is ahead of its original full-year expectations.

Outlook: Full-year guidance for 2026 was reaffirmed for mid-single-digit organic growth, but profit expectations were raised after second-quarter EBITDA came in above the midpoint of prior guidance.

AMS/DRS: AMS and DRS grew 14% organically, marking the 14th straight quarter of mid-teens or better growth, and management expects second-half growth to accelerate on the back of new wins and a solid pipeline.

Deal progress: Brink's said the NCR Atleos acquisition is moving ahead, with shareholder approval above 99% and several regulatory clearances already in hand; closing is now expected in early Q1.

Cash flow: Free cash flow remained strong, with trailing 12-month free cash flow of $468 million and conversion of 46%; the company still targets 40% to 45% for the full year.