Brink's reports Q3 adjusted EPS $1.05, consensus $1.04
Reports Q3 revenue $928M, consensus $931.07M. Doug Pertz, president and CEO, said: "The increase in our third-quarter non-GAAP results was attributable to strong organic and acquisition-related growth in North and South America, which more than offset the negative operating profit impact of $17 million related to currency translation, $6 million worse than we had assumed in our previous guidance. At previous guidance FX rates, operating profit growth would have been 14% versus prior year. In constant currency, revenue and operating profit increased 14% and 25%, respectively. While we continue to forecast strong operating results for the full year, we expect the negative impact of foreign currency translation to be approximately $80 million, $20 million greater than prior guidance, and have adjusted our full-year guidance to reflect this impact. As we near the end of 2019, the integration of our Dunbar acquisition is ahead of schedule and continues to have a positive impact on our U.S. results. We expect our U.S. business to deliver a fourth-quarter margin rate of at least 10%, and a full-year margin rate of at least 8%."