The Brink's Company (BCO) Q2 2026 earnings summary

Executive summary

• Revenue grew 7% year-over-year to $1,392 million, with 14th consecutive quarter of mid-teens or greater AMS/DRS organic growth and record margin expansion across all segments.

• Adjusted EBITDA rose 11% to $257 million, with EBITDA margin at 18.5% and free cash flow for the trailing twelve months at $468 million, conversion rate 46%.

• Net income attributable to shareholders for Q2 2026 was $44.4 million, with GAAP EPS of $1.07 (up 4%) and non-GAAP EPS of $2.13 (up 18%).

• The NCR Atleos acquisition is progressing ahead of schedule, with regulatory clearances in key jurisdictions, overwhelming shareholder approval, and expected closing in early Q1 2027.

• Integration planning is underway, targeting $200 million in run-rate synergies post-acquisition.

Financial highlights

• Q2 2026 revenue: $1,392 million (up 7% year-over-year), with 4% constant currency growth and a 3% FX tailwind.

• Adjusted EBITDA: $257 million (up 11%); operating profit: $190 million non-GAAP (up 15%), $133 million GAAP (flat year-over-year).

• EPS: $2.13 non-GAAP (up 18%), $1.07 GAAP (up 4%).

• Free cash flow (TTM): $468 million, conversion rate 46%.

• Interest expense: $63 million; tax expense: $34 million (effective tax rate 27.3%); depreciation/amortization: $64 million.

Outlook and guidance

• 2026 framework targets mid-single-digit organic revenue growth, mid-to-high teens AMS/DRS organic growth, 30–50 bps adjusted EBITDA margin expansion, and 40–45% free cash flow conversion.

• Q3 2026 guidance: revenue $1,365–$1,415 million, adjusted EBITDA $263–$283 million, non-GAAP EPS $2.23–$2.63.

• FX benefit for the full year expected at 1.5%–2.5%.

• Management remains confident in the financial outlook and value creation from the NCR Atleos acquisition.

• EBITDA to free cash flow conversion targeted at 40%–45% for the year.