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In a recent filing with the Securities and Exchange Commission, The Brink’s Company (NYSE:BCO) disclosed the upcoming retirement of a top executive and subsequent leadership changes. James K. Parks, the Executive Vice President and President for Europe, Middle East, Africa, and Asia, has announced his retirement effective May 1, 2025. Under current management, the company has demonstrated strong shareholder focus through aggressive share buybacks and maintaining dividend payments for 37 consecutive years.
Following Parks’ departure, Michael Gabay, currently President of Brink’s France, will step into the role of Executive Vice President and President for Europe. Additionally, Nader Antar, the Executive Vice President and President of Brink’s Global Services, will broaden his scope of responsibilities to include the company’s Rest of World segment.
The Brink’s Company, headquartered in Richmond, Virginia, is a global leader in security-related services for banks, retailers, and a variety of other commercial and governmental customers. The company’s shares are traded on the New York Stock Exchange under the ticker symbol BCO.
This leadership transition comes as part of Brink’s ongoing management structure and reflects the company’s commitment to ensuring a seamless changeover as it continues to serve its global customer base.
The information regarding these executive changes is based on a press release statement provided by The Brink’s Company.
In other recent news, The Brink’s Company reported its fourth-quarter earnings, which fell short of analyst expectations but demonstrated strong organic growth, especially in its digital and ATM services segments. The company posted an adjusted earnings per share of $2.12, missing the analyst consensus of $2.48. Revenue for the quarter was $1.26 billion, slightly below the expected $1.3 billion, yet it marked a 1% year-over-year increase and an 11% organic growth. For the full year 2024, Brink’s achieved record revenue of $5.01 billion, a 3% increase from the previous year, with 12% organic growth. Notably, the ATM managed services and digital retail solutions segment saw a significant 23% organic growth.
Brink’s also provided guidance for the first quarter of 2025, projecting revenue between $1.2 billion and $1.25 billion and adjusted earnings per share ranging from $1.10 to $1.40. These projections are in close alignment with analyst estimates of $1.23 billion in revenue and $1.37 in earnings per share. The company reported strong cash generation for 2024, with $426 million in cash from operations and $400 million in free cash flow. Additionally, Brink’s returned $245 million to shareholders and reduced its net leverage, signaling a focus on shareholder value and financial stability.
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