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Brinks Co. shares slide 8% after earnings miss and soft guidance
The Brinks Co. shares slid 8% in early trade Wednesday, after the security company posted weaker-than-expected earnings for the fourth quarter. Richmond, Virginia-based Brinks said it had a net loss of $4 million, or 8 cents a share, in the quarter, after earnings of $35 million, or 68 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.18, below the $1.25 FactSet consensus. Revenue rose to $936 million from $908 million, but was also below the $953 million FactSet consensus. "Looking ahead, our full-year non-GAAP guidance for 2020 includes 10% operating profit growth and 13% earnings growth, driven primarily by a continuation and expansion of the Strategy 1.0 organic growth initiatives that we began implementing in 2017," Chief Executive Doug Pertz said in a statement. "We expect to achieve these targets despite continued currency headwinds, higher cash repatriation expenses and operating expenses related to developing, piloting and commercializing our Strategy 2.0 initiatives. Our current 2020 guidance assumes limited upside from these 2.0 initiatives, which we expect to begin rolling out in the second half of the year." The company is expecting 2020 revenue of $3.8 billion and adjusted EPS of $4.30 to $4.50, below the FactSet consensus of $3.9 billion and $4.64. Shares have gained 11% in the last 12 months, while the S&P 500 has gained 22%.
https://finance.yahoo.com/m/77182fe...ff5/brinks-co.-shares-slide-8%.html?.tsrc=rss
The Brinks Co. shares slid 8% in early trade Wednesday, after the security company posted weaker-than-expected earnings for the fourth quarter. Richmond, Virginia-based Brinks said it had a net loss of $4 million, or 8 cents a share, in the quarter, after earnings of $35 million, or 68 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.18, below the $1.25 FactSet consensus. Revenue rose to $936 million from $908 million, but was also below the $953 million FactSet consensus. "Looking ahead, our full-year non-GAAP guidance for 2020 includes 10% operating profit growth and 13% earnings growth, driven primarily by a continuation and expansion of the Strategy 1.0 organic growth initiatives that we began implementing in 2017," Chief Executive Doug Pertz said in a statement. "We expect to achieve these targets despite continued currency headwinds, higher cash repatriation expenses and operating expenses related to developing, piloting and commercializing our Strategy 2.0 initiatives. Our current 2020 guidance assumes limited upside from these 2.0 initiatives, which we expect to begin rolling out in the second half of the year." The company is expecting 2020 revenue of $3.8 billion and adjusted EPS of $4.30 to $4.50, below the FactSet consensus of $3.9 billion and $4.64. Shares have gained 11% in the last 12 months, while the S&P 500 has gained 22%.
https://finance.yahoo.com/m/77182fe...ff5/brinks-co.-shares-slide-8%.html?.tsrc=rss
