Brink''s Provides Business Update in Advance of Baird Investor Conference
RICHMOND, Va., June 08, 2021 (GLOBE NEWSWIRE) -- The Brink''s Company (NYSE: BCO ) announced today that it affirmed its 2021 guidance including revenue growth of 21% to approximately $4.45 billion at the midpoint, which is up 10% on an organic basis. The company expects 2021 adjusted EBITDA growth of 25% to approximately $705 million. In 2022, management is targeting organic revenue growth of 5% to 7%, adjusted EBITDA growth in the mid-teens to a range between $785 million and $825 million, and free cash flow growth of more than 50% to a range between $350 million and $400 million. The company provided the update in advance of its June 8 participation in the 2021 Baird Global Consumer, Technology and Services Conference. Doug Pertz, president and chief executive officer, said: "Based on improving economic trends in most of our major markets, and the continued strong use of cash as a major method of payment, we continue to expect an accelerating recovery from the global pandemic. On an organic basis, excluding the impact of acquisitions and foreign exchange, year-to-date revenue through April has recovered to 96% of pre-pandemic 2019 pro forma levels. "We are particularly encouraged by the fact that our revenue recovery through April was achieved despite unforeseen pandemic-related shutdowns in several European and South American countries.
Brink''s Provides Business Update in Advance of Baird Investor Conference
RICHMOND, Va., June 08, 2021 (GLOBE NEWSWIRE) -- The Brink''s Company (NYSE: BCO ) announced today that it affirmed its 2021 guidance including revenue growth of 21% to approximately $4.45 billion at the midpoint, which is up 10% on an organic basis. The company expects 2021 adjusted EBITDA growth of 25% to approximately $705 million. In 2022, management is targeting organic revenue growth of 5% to 7%, adjusted EBITDA growth in the mid-teens to a range between $785 million and $825 million, and free cash flow growth of more than 50% to a range between $350 million and $400 million. The company provided the update in advance of its June 8 participation in the 2021 Baird Global Consumer, Technology and Services Conference. Doug Pertz, president and chief executive officer, said: "Based on improving economic trends in most of our major markets, and the continued strong use of cash as a major method of payment, we continue to expect an accelerating recovery from the global pandemic. On an organic basis, excluding the impact of acquisitions and foreign exchange, year-to-date revenue through April has recovered to 96% of pre-pandemic 2019 pro forma levels. "We are particularly encouraged by the fact that our revenue recovery through April was achieved despite unforeseen pandemic-related shutdowns in several European and South American countries.