Research Desk Line-up: Mistras Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 20, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on The Brink's Co. (NYSE: BCO), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=BCO, following the Company's announcement of its financial results on October 25, 2017, for the third quarter fiscal 2017. The security services Company's adjusted EPS surpassed analysts' expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Security & Protection Services industry. Pro-TD has currently selected Mistras Group, Inc. (NYSE: MG) for due-diligence and potential coverage as the Company reported on November 06, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Mistras when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on BCO; also brushing on MG. With the links below you can directly download the report of your stock of interest free of charge at:
For three months ended September 30, 2017, Brink's revenues increased 12% or 16% on an organic basis to $849.5 million from $755.8 million in Q3 FY16.
During Q3 FY17, Brink's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 19.9% to $112.2 million from $93.6 million in the same period last year. For the reported quarter, the Company's adjusted EBITDA margin increased 80 basis points to 13.2% of revenue from 12.4% of revenue in Q3 FY16.
During Q3 FY17, Brink's operating income increased 11% to $66.4 million from $59.7 million in the same period last year. For the reported quarter, the Company's adjusted operating income increased 21% to $76.4 million from $63.0 million in the third quarter of 2016. During Q3 FY17, the Company's adjusted operating margin increased 60 basis points to 9.2% of revenue from 8.6% of revenue in the same period last year.
For the reported quarter, Brink's net income decreased 19% to $19.9 million from $24.5 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS decreased 21% to $0.38 from $0.48 in the same period last year. For the reported quarter, Brink's adjusted net income increased 25% to $42.9 million on a y-o-y basis from $34.3 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 22% to $0.83 on a y-o-y basis from $0.68 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.75.
Brink's Segment Details
North America - During Q3 FY17, North America segment's revenue increased 6.6% to $316.5 million from $297.0 million in the same period last year. For the reported quarter, the segment's operating margin increased 230 basis points to 5.3% of revenue from 3.0% of revenue in Q3 FY16.
South America - During Q3 FY17, the South America segment's revenue increased 32.5% to $247.4 million from $186.7 million in the same period last year. For the reported quarter, the segment's operating margin increased 60 basis points to 19.3% of revenue from 18.7% of revenue in Q3 FY16. The increase was due to strong organic growth in Argentina, and improved performance in Brazil and Colombia.
Rest of World - During Q3 FY17, the Rest of World segment's revenue increased 5.4% to $264.8 million from $251.2 million in the same period last year. For the reported quarter, the segment's operating margin decreased 50 basis points to 12.6% of revenue from 13.1% of revenue in Q3 FY16.
As on September 30, 2017, Brink's cash and cash equivalents increased 31.8% to $241.8 million from $183.5 million on December 31, 2016. For the reported quarter, the Company's debt increased 69.2% to $750 million from $443.2 million in Q4 FY16.
For the reported quarter, the Company's net accounts receivable increased 20.8% to $605.2 million from $501.1 million in the fourth quarter of 2016. For the reported quarter, the Company's accounts payable increased 12.3% to $156.5 million from $139.3 million in Q4 FY16.
During FY17, the Company's YTD cash provided by operating activities increased 103.9% to $116.2 million from $57.0 million in the same period last year.
On October 17, 2017, the Company's Board of Directors declared a dividend of $0.15 per common share, payable on December 01, 2017, to shareholders of record on November 13, 2017.
During FY17, the Company's YTD commitment on acquisition was $370 million on six acquisitions, including the pending acquisition of Temis in France.
For FY17, Brink's expects revenue to be $3.30 billion and diluted EPS to be in the range of $2.05 to $2.15. The Company estimates adjusted diluted EPS to be in the range of $3.00 to $3.10 for fiscal 2017.
On Friday, November 17, 2017, the stock closed the trading session at $78.75, climbing 1.09% from its previous closing price of $77.90. A total volume of 406.62 thousand shares have exchanged hands. Brink's stock price soared 4.79% in the last three months, 28.99% in the past six months, and 83.78% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 90.91%. The stock is trading at a PE ratio of 48.67 and has a dividend yield of 0.76%. At Friday's closing price, the stock's net capitalization stands at $3.93 billion.
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