Brinks Co Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Brinks Co. filed its Q1 2024 10-Q report on May 8, 2024.</b>

AI Summary

BRINKS CO (BCO) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Brinks Co. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31. Brinks Co. was formerly known as Pittston Co. until July 3, 1992. The company is incorporated in Virginia (VA).

Why It Matters

For investors and stakeholders tracking BRINKS CO, this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for Brinks Co. for the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: low — BRINKS CO shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative news, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand Brinks Co.'s operational results and identify any emerging trends.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-08 — Filing Date (FILED AS OF DATE)
• 1231 — Fiscal Year End (FISCAL YEAR END)
• 1992-07-03 — Former Company Name Change Date (DATE OF NAME CHANGE)

Key Players & Entities

• BRINKS CO (company) — COMPANY CONFORMED NAME
• PITTSTON CO (company) — FORMER COMPANY
• VA (location) — STATE OF INCORPORATION
• 0000078890 (company) — CENTRAL INDEX KEY
• 19920703 (date) — DATE OF NAME CHANGE
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240508 (date) — FILED AS OF DATE

FAQ

Industry Context

Brinks Co. operates in the transportation and logistics sector, specifically focusing on freight and cargo arrangement.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

1. Analyze the balance sheet and income statement for the quarter ending March 31, 2024.
2. Examine any disclosures related to segment performance or significant business developments.
3. Compare key financial metrics to previous periods to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a timely update on the company's financial condition and performance.)

Central Index Key (CIK)

A unique identifier assigned to each entity that files with the SEC. (Helps in tracking and identifying specific companies within SEC filings.)

Year-Over-Year Comparison

This is the initial filing for the first quarter of 2024. Previous filings would be for the year ending December 31, 2023, and prior quarters.

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 per share BCO New York Stock Exchange
• $1 — As of May 3, 2024, 44,461,996 shares of $1 par value common stock were outstanding

Filing Documents

• bco-20240331.htm (10-Q) — 1890KB
• ex101q12024.htm (EX-10.1) — 24KB
• ex102q12024.htm (EX-10.2) — 22KB
• ex311q12024.htm (EX-31.1) — 9KB
• ex312q12024.htm (EX-31.2) — 9KB
• ex321q12024.htm (EX-32.1) — 5KB
• ex322q12024.htm (EX-32.2) — 6KB
• image_0.jpg (GRAPHIC) — 6KB
• image_01.jpg (GRAPHIC) — 8KB
• image_1.jpg (GRAPHIC) — 16KB
• image_11.jpg (GRAPHIC) — 1KB
• 0000078890-24-000172.txt (&nbsp;) — 9045KB
• bco-20240331.xsd (EX-101.SCH) — 39KB
• bco-20240331_cal.xml (EX-101.CAL) — 91KB
• bco-20240331_def.xml (EX-101.DEF) — 242KB
• bco-20240331_lab.xml (EX-101.LAB) — 690KB
• bco-20240331_pre.xml (EX-101.PRE) — 467KB
• bco-20240331_htm.xml (XML) — 1440KB

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements THE BRINK'S COMPANY and subsidiaries Condensed Consolidated Balance Sheets (Unaudited) (In millions, except for per share amounts) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,122.7 1,176.6 Restricted cash 557.9 507.0 Accounts receivable (net of allowance: 2024 - $ 31.2 ; 2023 - $ 30.4 ) 857.0 779.0 Prepaid expenses and other 367.5 325.7 Total current assets 2,905.1 2,788.3 Right-of-use assets, net 334.5 337.7 Property and equipment (net of accumulated depreciation and amortization: 2024 - $ 1,651.2 ; 2023 - $ 1,620.1 ) 1,003.3 1,013.3 Goodwill 1,457.7 1,473.8 Other intangibles (net of accumulated amortization: 2024 - $ 289.6 ; 2023 - $ 278.7 ) 469.4 488.3 Deferred tax assets, net 226.3 231.8 Other 283.0 268.6 Total assets $ 6,679.3 6,601.8 LIABILITIES AND EQUITY Current liabilities: Short-term borrowings $ 155.0 151.7 Current maturities of long-term debt 125.6 117.1 Accounts payable 265.1 249.7 Accrued liabilities 1,105.2 1,126.9 Restricted cash held for customers 340.6 298.7 Total current liabilities 1,991.5 1,944.1 Long-term debt 3,309.3 3,262.5 Accrued pension costs 145.3 148.5 Retirement benefits other than pensions 155.8 159.6 Lease liabilities 262.8 265.8 Deferred tax liabilities 57.9 56.5 Other 236.8 244.6 Total liabilities 6,159.4 6,081.6 Commitments and contingent liabilities (notes 4, 7 and 13) Equity: The Brink's Company ("Brink's") shareholders: Common stock, par value $ 1 per share: Shares authorized: 100.0 Shares issued and outstanding: 2024 - 44.6 ; 2023 - 44.5 44.6 44.5 Capital in excess of par value 666.8 675.9 Retained earnings 354.0 333.0 Accumulated other comprehensive income (loss) ( 669.0 ) ( 656.0 ) Brink's shareholders 396.4 397.4 Noncontrolling interests 123.5 122.8 Total equity 519.9 520.2 Total liabilities and equity $ 6,679.3 6,601.8 See accompanying notes to condensed consolidated financial statement

View Full Filing

View this 10-Q filing on SEC EDGAR