The Brink's Company (NYSE:BCO) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET

Company Participants

Jesse Jenkins - VP, IR

Mark Eubanks - CEO

Kurt McMaken - CFO

Conference Call Participants

George Tong - Goldman Sachs

Tobey Sommer - Truist Securities

Operator

Welcome to The Brink's Company's Fourth Quarter and Full-Year 2022 Earnings.

Brink's issued a press release detailing its fourth quarter and full-year 2022 results this morning. The company also filed an 8-K that includes the release and the slides that will be used in today's call.

For those of you listening by phone 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. And 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 as 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'll now turn it 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 fourth quarter and full-year 2022 results on both the GAAP and non-GAAP basis, as well as on a constant currency basis, which eliminates changes in foreign currency exchange rates from the prior year.

We believe the non-GAAP results make it easier for investors to assess operating performance between periods. Accordingly, the majority of our comments today will focus primarily on non-GAAP results. Reconciliations of non-GAAP results to their most comparable GAAP results are provided in the press release, the Appendix of this presentation, and in this morning's 8-K filing, which can be found on our website.

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

Mark Eubanks

Thanks, Jesse. Good morning, everyone, and thanks for joining us.

This morning we reported strong full-year fourth quarter 2022 results highlighted by the highest full-year organic growth rates we've seen over a decade and operating margins at the highest level in recent years. We delivered our full-year 2022 guidance for revenue, operating profit, EBITDA, and EPS despite the impact of $252 million on revenue due to negative foreign exchange translation.