The Brink's Company (BCO) Q1 2026 earnings summary

Executive summary

• Achieved 10% year-over-year revenue growth in Q1 2026, with 4.5% organic growth and 15% organic growth in AMS/DRS segments, driven by favorable currency impacts and strong segment performance.

• Adjusted EBITDA margin expanded to 17.3%, with adjusted EBITDA up 10% to $238M and operating profit margin at 12.2%; GAAP operating profit margin declined to 8.0% due to higher acquisition and transformation costs.

• Trailing-twelve-month free cash flow surpassed $500M for the first time, with 50% conversion from EBITDA.

• Net income attributable to shareholders fell 38% to $32M, with GAAP EPS at $0.77, down from $1.19; adjusted EPS rose 11% to $1.80.

• NCR Atleos acquisition remains on track to close by end of Q1 2027, with $200M annual run-rate cost synergy targets and integration planning underway.

Financial highlights

• Q1 2026 revenue: $1,375M, up 10% year-over-year, with 5% constant currency growth and a 6% FX tailwind.

• Adjusted EBITDA rose 10% to $238M, margin at 17.3%; operating profit up 12% to $168M, margin at 12.2%.

• GAAP operating profit: $110M, down 7%; GAAP net income: $32M, down 38%.

• EPS was $1.80, up 11% year-over-year; GAAP EPS: $0.77, down 35%.

• Share repurchases of $30M completed, reducing outstanding shares by 5%.

Outlook and guidance

• 2026 framework targets mid-single digit organic revenue growth, mid-to-high teens AMS/DRS organic growth, and 30–50bps adjusted EBITDA margin expansion.

• Q2 2026 guidance: revenue $1,370–$1,430M, adjusted EBITDA $245–$265M, adjusted EPS $1.85–$2.25.

• Free cash flow conversion targeted at 40–45% for 2026; FX expected to be a 2–3% tailwind for the full year.