While reporting financial results for the third quarter on Wednesday, The Brink’s Co. (BCO) maintained its mid-point of adjusted earnings and revenue guidance for the full-year 2021.
For fiscal 2022, the company now projects earnings from continuing operations of about $3.83 per share and adjusted earnings from continuing operations of about $5.75 per share on revenues of about $4.52 billion.
Previously, the company expected earnings from continuing operations in the range of $4.30 to $4.85 per share and adjusted earnings from continuing operations in the range of $5.50 to $6.00 per share on revenues between $4.52 billion and $4.67 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.76 per share on revenues of $4.58 billion for the year. Analysts’ estimates typically exclude special items.
The company said revenue and operating profit are now expected to be at the low end of the range due primarily to the impact of foreign exchange translation.
For the third quarter, net income attributable to the company edged up to $19.2 million or $0.41 per share from $19.0 million or $0.38 per share in the prior-year quarter. Excluding items, adjusted net income was $1.34 per share, compared to $1.14 per share last year.
Revenue for the quarter grew 6 percent to $1.14 billion from $1.08 billion in the same quarter last year. Organic revenues increased 13 percent.
The Street was looking for earnings of $1.30 per share on revenues of $1.17 billion for the quarter.
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