The Brink's Company (NYSE:BCO) Q2 2023 Earnings Conference Call August 9, 2023 8:30 AM ET

Company Participants

Mark Eubanks - Chief Executive Officer

Kurt McMaken - Chief Financial Officer

Jesse Jenkins - Vice President of Investor Relations

Conference Call Participants

George Tong - Goldman Sachs

Tobey Sommer - Truist Securities

Operator

Hello, and welcome to the Brink's Company Second Quarter 2023 Earnings Call. This morning Brink's issued a press release detailing its second quarter 2023 results. The company also filed an 8-K that includes the release and the slides that will be used in today's call. The release and slides are available in the Investor Relations' section of the company's website at investors.Brinks.com.

At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded and will be available for replay.

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 the footnotes of today's press release and in the company's most recent SEC filings.

Information presented and discussed on this call is representative of today only. Brink's assumes no obligation to update any forward-looking statements. The call is copyrighted and may not be used without written permission from Brink's.

I will now turn the call over to your host, Jesse Jenkins, Vice President of Investor Relations, Mr. Jenkins you may begin.

Jesse Jenkins

Thanks and good morning. Joining me today are Brink’s CEO, Mark Eubanks, and CFO, Kurt McMaken. This morning we reported second quarter 2023 results on a GAAP, non-GAAP and constant-currency basis. Most of our comments today will be focused on our non-GAAP results, because we believe these results make it easier for investors to assess operating performance between periods. Reconciliations of non-GAAP results to their most comparable GAAP results are provided in the press release, the appendix of the presentation, and in this morning's 8-K filing.

I'll now turn the call over to Brink's CEO, Mark Eubanks.

Mark Eubanks

Thanks Jesse and good morning everyone. Thanks for joining us. Starting on slide three, we delivered record revenue and operating profit in the second quarter. Total revenue was up 7%, including organic growth of 8%.

Our cash and valuables management business grew organically by 5%, and the ATM Managed Services and Digital Retail Solutions customer offerings were up 19% organically. Operating profit was up 6% in total, and 13% organically for a margin of 10.8%.