The Brink's Company (NYSE:BCO) Q2 2024 Earnings Conference Call August 7, 2024 9:00 AM ET

Company Participants

Jesse Jenkins - Vice President, Investor Relations
Mark Eubanks - Chief Executive Officer
Kurt McMaken - Chief Financial Officer

Conference Call Participants

George Tong - Goldman Sachs
Tim Mulrooney - William Blair
Jack Wilson - Truist Securities

Operator

Welcome to the Brink's Company's Second Quarter 2024 Earnings Call. This morning Brink's issued a press release detailing its second quarter 2024 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 at 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 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 the 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. This call is copyrighted and may not be used without written permission from Brink's.

I will now turn the conference 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 CEO, Mark Eubanks and CFO, Kurt McMacken. This morning Brink's reported second quarter 2024 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 will now turn the call over to Brink's CEO, Mark Eubanks.

Mark Eubanks

Thanks, Jesse. Good morning and thank you for joining us. We'll start here on slide 3. We delivered total organic growth of 14%, accelerating sequentially over the first quarter. ATM Managed Services and Digital Retail Solutions or AMS DRS grew 26% organically and accelerated sequentially across all geographic segments. Cash and Valuables Management or CVM was up 10% organically with strong pricing discipline, offsetting continued cyclical market softness in our Global Services business.