Benzinga | Jul 22, 2021 02:27PM EDT

Brink's Posts Mixed Q2 Results

* Brink's Co. (NYSE:BCO) reported second-quarter FY21 net revenue growth of 27% year-on-year to $1.049 billion, missing the analyst consensus of $1.08 billion.

* Non-GAAP operating profit rose 51% Y/Y to $111 million and the corresponding operating margin increased 160 basis points Y/Y to 10.5%. GAAP operating margin improved 710 basis points to 7.0%.

* Adjusted EBITDA rose 39% Y/Y to $166 million in the quarter.

* Adjusted EPS of $1.18 beat the analyst consensus of $0.98.

* "We expect continued revenue recovery in the second half to provide a strong jumping-off point for 2022 when our full-year revenue is expected to exceed comparable 2019 pre-Covid revenue levels," said CEO Doug Pertz.

* Outlook: Brink's now sees full-year 2021 revenue growth in the mid-to-high teens, which is in the lower half of its guidance of $4.2 billion - $4.6 billion, versus the consensus of $4.41 billion.

* It continues to expect earnings to be around the mid-point of the range, reflecting higher margins. Its outlook for adjusted EPS from continuing operations for FY21 is $4.35 - $5.55, versus the consensus of $5.02.

* For 2022, It preliminarily targets adjusted EBITDA growth in the mid-teens to a range of $785 million to $825 million.

* Price action: BCO shares are trading lower by 6.19% at $73.01 on the last check Thursday.