BCO - Earnings call transcript Q3 2024

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Operator

Welcome to The Brink's Company's Third Quarter 2024 Earnings Call. This morning Brink's issued a press release detailing its third quarter 2024 results. The company also filed an 8-K that includes the release and the slides that will be used in today's call. The release and slides are available in the Investor Relations section of the company's website at investors.brinks.com. [Operator Instructions] As a reminder, this conference is being recorded and will be available for replay. This call and the Q&A session will contain forward-looking statements. Actual results could differ materially from projected or estimated results. and could today's differences the only. press recent filings. Information that the available company's factors call SEC of this footnotes release presented regarding cause of are such in most is Information representative on today discussed and in assumes any statements. to update obligation no Brink's forward-looking without President it call your over The used host, copyrighted of Brink's. I from Jesse may and permission is Vice Investor to Relations. will be Jenkins, not written now turn Mr. Jenkins, you begin. may

Jesse Jenkins

morning. good and Thanks

and CFO, a me McMaken. are trends of comparison constant investors today on Mark Eubanks; results. non-GAAP quarter results comments on operating Joining Brink's our our morning results currency our These provide third presented. with focused financial GAAP, Kurt a the reported will of CEO, for and periods This and be measures supplemental today non-GAAP to basis. are XXXX Most non-GAAP intended

metrics to to to for allow Our Reconciliations results performance their using measures such management believes of future these same measures our also useful as and evaluate non-GAAP prospects our past investors performance that to management investors performance. are the evaluate uses all comparable which on results now most Mark Eubanks. the the the filing, presentation be provided press can and call GAAP in in to our X-K morning's website. I appendix Brink's CEO, the found this release, are will over of turn of

Richard Eubanks

by and improvement Business to recently deep we key Kurt our we capturing of on our well with impact our our EBITDA Services. expand Technologies Nader opportunities our to culture the on was XX% focus good across new global Mexican global due performance America growth in on our impact as more global and DSOs a cash make Nader North the by experience compliance free the America our Latin we him year. system. I'll peso. Adjusted impact in Brink's in and XX are of the offset margins. We the working for security worldwide. expectations we U.S. operational With quarter. operations important made softness be better down our related Josh's X% dollar DRS portfolio. and impacted headwind Otis organically, and ideal an developing Honeywell, and of simplify of in segment. business organic build experience our GE high slides. will like of million was Slide good and of to as System and with for margin with FX the Thanks market our leveraging identifying us choice in in we caused across joins advance cost more Elevators. He'll was marking have the continue for continue customers joining with I've later services silver delivering deploy and million to and X $XXX delivered business. Despite managed in background Global revenue leading up pipeline to market of quarter in return markets as CVM also outlook in we a generated devaluation primarily continuous organically to our the capital market. The headwinds opportunities, X, large help free from few last at in team growth improvements on EBITDA in a addressable talent a services lower the and $XXX DRS a quarter, the and global timing regional form. near-term in margins originally organic quarter. us routing these in well additional total EBITDA businesses. this by cadence Services AMS appointed delay market record the digital prices, valuables and continue global productivity every million Thanks the unlock executive leading Leader as tasked same as gold declines us call. We more companies the is grew the total FX logical strengthening businesses, than We AMS for currency Jesse increase United finally services ahead management, backlogs mix focused XX% as we with our were the then additions will strengthening hedging period. business. on asset details have in of $XX of our headwind strengthening included have these quarter. Nader retail to growth improving in P&L, Starting and another and Eaton management, Operationally, pricing XX% morning. in with offsetting to when ATM new Antar Global headwind and opportunities, being and we Global agenda or us. high-margin solutions, a the and as basis points continue flow performance losses cash double-digit and item, healthy to a execution him as FX in footprint growth The Josh our and efficiency a to flow, makes AMS XX% growth areas. Cash for of of dollar DRS related EBITDA efforts our America, expected, person caused AR quarter productivity standardize and lean North Brink's Brink's primarily momentum Teteak presence future The that the the or Adjusting

for of XX% to are of increasing now high the growth XX%. exceed remainder more revenues organic expectations expectations the expect year our original We than the we mix end of our AMS, DRS to and

business we of to shifting these in faster-growing appreciate a customers achieving the towards a backlog trajectory fourth of growth. our services our in and businesses. revenue proposition value our higher-margin, a the our Our of we're to the of XXXX balance confidence embrace targets, the start install to revenue devices have with With quarter, year. And continue power these strong of for the teams mid-to-high-teens robust off organic full pipeline, increasing to

impact geographic well mix in from $X flow the and bottom revenue at as year-over-year geographies in peso We and continue of can Revenue our through Xx taxes as of year in the than of framework, mix of the through $XXX we midpoint extent impact over reflects the higher $XXX and business. Free of see year-to-date headwinds, that cash the reflects $XXX to market currency EBITDA capital our the our the lower repurchases impact page, guidance. count total, billion and authorization leverage XXXX target million cash EBITDA million more also of some in you of XXXX. At to to allocation our remaining a full shares softness million change XXXX, runs by million from lesser Adjusted continue our returning quarter. million lines of $XXX Mexican the in third the of updated high-margin through maintaining work In by quarter. below share Global fluctuation $XXX and X% execute business. worth income target as approximately reflects the capital and to we've currency reduced Services on shareholders primarily purchasing the

we to strategy the fell good against executed transforming quarter year the of continue short initial balance and our of make our our progress and While operations. expectations, our

sight operationalize clear us We tech-enabled processes remain further we're our the actions on our strong that in of growth and believe of still very business line seeing help routing encouraged by we the demand to making higher turning will are opportunity right have in and our growth of AMS and DRS benefits front the the to initiatives we we're and into investments XXXX. I'm productivity solutions the us. the and results corner in predictability margin in improve confident

event when quickly through partially of from Turning to security mentioned X. million, as Trailing by $X.XX free EBITDA XX-month year-over-year due million discuss of of adjusted trailing will XX% few cash offset EBITDA an QX, previous declined Adjusted a headline quarter. Earnings Kurt conversion XX% XX%. slides. detail lapping with of in $XXX was growth was the I'll flow the share higher to per gain. and loss Slide the from XX-month a $X marketable was translational for these year results interest in Organic expense year-over-year, in impact the FX. down move prior

Turning to quarter. recognize X, last we an you'll Slide update a shared to slide

points On data expect the tower, center and with smart make up XX% We've expanding at the left local activities of technology better and CAGR systems to our continue the end investments processes accelerated well we routing quarter, meaningful and we EBITDA logistics routes. as XXXX. In to the of for migration margins our on-premise moved you from as North equipped improved our global growth better to can network planning progress a legacy year that the algorithms delivering in optimize into basis cloud, and XXX a across scalability. centralized since control also enable see, plan America, we industry-leading security to

and the growth model vital to reduction delivers. it's the best-in-class have business, from stops benefits the additional the fully of accelerating the With AMS capacity in DRS a we system of our operating process that realize and that

stability experienced rollout we planned the and the issues slow operational deployment system that to ensure During to of us system, integration caused the better performance.

labor offset initial fleet approximately by million this that and not $XX in we be We in productivity realize have the planned $X investment did million to quarter. to

cities. very we We U.S. markets through Metropolitan in during work several these in deployment, are issues as in continued pilot being quarter, deliberate our large the

service now fleet the will XXXX. productivity maturity key into the per few that labor We next quarters worked While translate seeing across and to expect full entire the productivity hit in improvements metrics, of in first quality early, half like we are and results these are the network. ultimately benefits and we believe meaningful over hour ramp stops

segment as growth but around in supported provide the market on retail valuables we also in of Latin offering. X, large place The we Services Turning as partially in educate growth convert ways and outsourcing working the was here infrastructure. The with Services, refineries organic expectations. our capital, to are potential growth in continue fees pipeline here In leverage cash a environment legacy continue American and by here particularly onboard especially movement customers cash our quarter DRS continues Volumes growth offset have remain softness, We've demand price continue driving day-to-day wins and backdrop, closed all to further avenues plan Global customer as volatility, other the our well and retail expand momentum. a as the we to employees value and nationwide silver are in set by backlog to revenue the dealer, and solutions. Customers to of against profit movement in in to a year. We've uncertain operations precious the geographies, and to throughout XXXX, a of negative was Global strong large the a and including I'll Americas. With for the Slide reduce of during metals geopolitical services we year a our simplify third penetrate business. with had chain into we demand for prices early operations Asia-Pacific. AMS our to consistently as segments by management, supports realization, every favorably and that parts business unvented several expand patterns precious in Supported dedicated X% our the quarter new revenue forecast a existing cash built we significant backdrop, quarter, as they Favorable consecutive in the chain commodities. our pharmacy rising despite bank more several and and some operations. into to financial hypermarket delivered U.S. impact new in stable the we benefits institutions fourth With storage financial proposition next double-digit U.S. country BGS the tech-enabled these leader saw that to of retail to a the had a management expectations well mining institutions metals changing of including softness look DRS existing for as by most U.S. from customers core detail and national into slowed. reacting organic accelerating gold new transit customers maximize market countries in key limited exceed auto of world. This growth ATMs on that new

We opportunities number beginning early that pilot just that we're have already stage an moved many explore of to new phase. increasing into opportunities the have and

key maturing wins excited in about we're and pipeline period. the vast several in quality is very Our global and

ATM store here Beyond service agreement signed a a grocery the in retailers which as several agreements chain previously announced I'll U.S. as touch with outsourcing the well in both in major Europe Sainsbury's we on and institutions partnership, an with moment, financial outsourcing

like agreement store managed to Turning a services third On to chains a grocery Slide announced the an one key X, AMS win second to from quarter. highlight in we I'd to September provide convenience Sainsbury's, the for take U.K. and full of ATM the XX, largest

increased cash of a route in entire cash from and value Sainsbury's a the on at AMS we are ability competitive of maintenance far the increased year. across to transition to single Overall, network the processing processing. increase will network pleased excited next U.K., our As diligently and during will line about transition XX% Sainsbury's leveraging year. with and relationship margins. We're first progress in The increased in and everything and will with our provider back density, higher second office infrastructure by first both I'm and about of fully plan, addition ownership. We process to stream, working so agreement, the transit, ATMs forecasting which ATMs part DRS volume services with transaction great the while ourselves completed the ATM our partner of by provide and to providing be differentiated the the half incremental all network this through associated this we be scale, expect

incentives selling the our it We behaviors I to some and we right look I'll aligning year Q&A. operating our performance continue improving We've solution-based return locally. momentum through before our the Kurt for build to over Kurt? increased lines to drive turn free a open into our that, tactics our thoughts flow, cash of and I'll and expectations this and to to XXXX business guidance. strengthen with cadence. We're shift allocation discuss and go-to-market several continued updated the our with next years. And capital closing over the financials, forward

Kurt McMaken

Mark. revenue XX% dollar revenue the grew headwind significantly on higher-margin coming Slide X, third U.S. year-over-year. $XXX quarter, about of from The representing Thanks, Starting million, AMS strengthened organic DRS and with growth $XXX that in million services.

productivity deployment of slide, from technology EBITDA. security can $XX in North see by America the to of loss and the to right were you side incremental Mark Moving mix, organic the Global especially revenue discussed impacted million how QX revenue that margins converts a delayed routing in previously. Services, the the

XX%, expense impact organic loss, Excluding Starting growth incremental to the the the the an margins left, profit operating of on in interest Latin majority on XX% currency countries. On in X, adjusted margin as approximately is bridge Incremental million rate represents expected. balances security we our XXXX period. in FX increase was as came impact year-over-year we American with higher-margin expenses were of million one-time debt were the EBITDA. million. up interest tax almost higher an slightly of related XX%, $X $XX the rates, early effective our to of The to the and of repayment quarter, the higher $XX bonds. Tax Slide

prior did was category than lapping Argentina was other security X%. impact the million, million diluted count $XX repeat. Income operations primarily in in year, not $X or from shares our share XXXX gains and $XX million The was marketable X.X million down from of continuing that lower

to the in share. full a Our modeling and between earnings $XXX $X.XX be per interest of few period year these per million fourth the in help share expect we components million. To with was $XXX quarter, expense

you outlook. Slide quarter. Stock-based to tax XXXX left, contribution primarily in a to in slightly of are be Cash mix the reflects segments. in a compensation posted the as are compared be $XXX the is a as geographic taxes than XX% to our trending percentage million dollars expenses high-margin of rate CapEx, components better $XX reduction due of in than lower components cash Services. The addition and We million year impact, capital flow in revenue. On roughly in the flow between approximately prior line countries primarily $XX the forecasting full or EBITDA operational expected to the cash we see in income working Global flat the expected, on are XX, currency expected the through performing American free of million and business, year updated Latin expected. Starting flat total flow can corporate from to to mostly of higher are third

around pooling We see multinational world. as on are forward in from contracts cash material operating also in activities manage million to now from cash are existing Mexican currency reflected a to resulted settlement volatility and expecting $XX impact peso period an result devaluation centralized utilize flows million exchange quarter, the limit efficiently cash of approximately cash foreign require saw approximately balances. In most in we these a we These companies, the devaluation. Like to the $XX the third in movements foreign cash. an flows which exchange

prior is throughout effect outlook, devaluation year, compounding of half the Stepping component headwinds. Overall, expected the remains the free than cash reduction sudden second higher The $XXX coming be from to in half foreign strong. flow exchange cash lower the now to the currency the cash free with Mexican largely the is driven our cash interest by year, peso. flow more about of second than due potential less in back million generation the movements of the expected from

the margins through to make attention. efficiency DRS, days growth improving outstanding heightened of the to through resilient. many We our true flows While cash continue believe expectations, generation components of to these the us AMS of for continue and the improve quarter are up progress sales management there was opportunities profile not we capital as and business, the operational expand are our to improve

continue committed we value we to well generation, beyond quarter-to-quarter. cash capital Moving long-term continue framework through will flow on volatility XX, compound focus maximizing might see free the Slide shareholder and allocation to cash that our to to allocation we remain

to system. more investments migration, we to business data of stable EBITDA upgrades and margin to These to North the investments have include routing our increase consistent center flow sustainable and and growth First, growth. benefits will make in trajectory of plan generate continue long-term in American the come. and will years in investments cybersecurity the organic cash to Examples the enable operations this profitable and

of growth XX% by led guidance. original allocation accelerating XXXX approximately framework offset remain by now see are headwinds, growth approach currency above the year, organic with and the returns. leverage shareholder can confident $XXX total current strong towards our disciplined expect gone we Xx generation, X near-term cash our comfortable have share attractive in an XXXX form growth DRS have to will capacity below be We be given and that finally AMS strong to long-term. On on double-digits. organic our into level has opportunities side, we accretive We quarter. in with total we that business. strong current and The you free to the in the growth our dividends. cash the given appropriate continue plan flow capital This is Year-to-date, strategic of Mexican X% range fit, to our driving we remain repurchases to share FX the peso. the that fourth continue returns and targets and remains attractive to maximize of XX, Second, organic M&A $XXX of updated impact under our stable profile leverage value and authorization, our allocation Xx targeted our align framework. Despite flow investment believe million the of the to broader active over capital repurchases the to million is remain expected over majority cash Slide expectations shareholder explore valuations. With current a we be our returned And revenue the available

revenue. Services reminder, guidance rates and AMS, and Global through $XXX does our end EBITDA as between attempt of the by million, a DRS to outside FX As currencies. Adjusted of and headwinds, quarter expected flow $XXX now utilizes benefits predict million of movement currency the of the reflecting mixed to in partially Argentina, XX from is more be offset not September future

to flow Mark? through I slides between from million, it a As the closing million hand adjusted free we approximately few EBITDA remarks a for now with at and now back, cash XX% some Q&A. back $XXX $XXX and walked Mark of expect midpoint. I conversion will

Richard Eubanks

Thanks, Kurt.

and the we on year, we the the be a As of about reflect challenging encouraged I transformation second future. can't but close half help progress delivered

the to necessary softness impact business market our of to the are addressable foundation methodically and currency and our making fully business improving We elements and temporary operating remain of investments the Global fluctuations towards in resolute margin to flow we cash AMS DRS. market realize business, progress opportunities our Services free the expansion in committed long-term the expectations. Despite of

execution So of right proven DRS. have strategy in our a far has we AMS win XXXX, in and to

our Our operationally. our offerings and customers have proposition recognized the team has Brink's value executed of

we nothing As conversion am and please as XXXX. and to to still confident DRS from team the from XXX limits opportunity in set cash us. Operator, from expect driven to we We from and flow XXXX, Argentina points improve in generate front to growth inflation, a open of we're benefits momentum continuing of EBITDA. building of to by levers capitalize the of continue opportunity operating the and and XXXX for the we cash I organic our culture organic basis in continue continued AMS the capture the right profit the growth, impact many begin half financial questions. second mid-single-digit for plan growing the on strong realize excluding backlog. We we in right see us operational the framework expansion XXXX to when still free line expect

Operator

will And from first from the Securities. question Sommer Tobey Truist be Instructions] [Operator

Jasper Bibb

low versus think to to the for This quarter. year low- mid-teens is Looks teens I is last for guide on Jasper Bibb Tobey. like this organic rise

sounded your organic an could relative of you versus AMS in like the increase DRS softer what outline and demand Services on impact the side, Just Global assumptions?

Richard Eubanks

and was business America though saw we make some in high really business. at from to year expect market albeit it in and way. the good, us a business, it share, have yes, good want have our seen the we expectations I sure a impact expect, the probably we actually again that, Full Yes, still couch North where declines to the most the Services growth sure. Yes, headwind right Global some in we to relative quarter had where are It's a through for the but quite downside same be profit the continue year. This the of expect both the low-single-digits time total quarter. The we is place margins to of a on upside and high. for kind organic incremental flow the lot the are business

We lot fixed that over cost have hubs, really people that high network. a that in world market. A the of all vaults, form

in occurs because business move we to last be quarters volatility prices For historic not and are volatility less our highs this us gold is historically more volatility, when actually, some really even we and to precious silver high, -- the X metals, with of this has -- there or with precious helped tends today metals, no let's particularly tend metals. When saw lack and say volatility. demand

for but seeing today the lift for we're us provides year. decline bounce-back, QX, the and already the what not or rest in of expecting markets into fourth quarter going large large we're So hopefully some any

Jasper Bibb

conversion That the year. makes high it's XXs to sense. looks And then like through free cash be going

potentially take a long-term the the I more remarks you you target To prepared back at little clarify, think that bit could component cash in mentioned or think would XX% think near be achievable long-term the getting time? conversion I approaching, still to framework. end of the free XXXX, do

Kurt McMaken

but still wouldn't intact Kurt. put that, a It's timing reach it's we on I'd to eventually we Yes. think that. say

that towards continue We to conversion. march

Jasper Bibb

Okay. sense. That question me. Last makes from

I move guidance if incremental about revenue Obviously You seeing dollar this headwinds. mentioned FX in the morning. the looking XQ, FX at potentially what headwind we're a morning the we as pretty this we're absolute think an holds? big versus guess move Should

Richard Eubanks

have This likely that let's also guide, about a weeks we good think the at is, the currencies we would so of the where was obviously to where see we would. to lands. But move it but think it repositioning -- as tied the I obviously about morning, rates right we the built the in unprecedented investors election a ago, say is are into this a Yes, couple this portfolios foreign think way when that and quarter. end -- here and it's --

So not then. better gotten it's since

fact, out. little let's In see things But these got worse. after it's a settle

Operator

next question Tim is [Operator Instructions] The from from Blair. Mulrooney William

Timothy Mulrooney

Jasper to just of want you're real build the on with currency. off quick there conversation I having foreign

end second wrong, or quarter $XX before relative of the your the you I'm of expecting guidance me were incremental second if a million so year. correct headwind, I half to original think for

incremental the fourth you me help for can third So for was you're okay, exactly, understand now what quarter what expecting just that the and headwind quarter?

Richard Eubanks

Sure.

based ups we're the million first half impact expecting quarter. at So year. broken basically the in in last of in the million half out of million -- of the total let's guide sort $XXX the the is the year of to say and of net the That $XX QX. we into And had Tim, kind another numbers, that's in on quarter X things, $XX year-to-date end through the between incremental the and QX downs back

Timothy Mulrooney

Yes, that's perfect.

Richard Eubanks

bit little [Indiscernible]. We QX. a positive were in

June seen again, largely end we and about volatility Now moved that an it -- saw we last peso which everywhere. the -- or in there sharply, this, again, is we've sort Mexican of we talked about with quarter. today's of it quite when But as and it's the a think election bit

much -- our and Mexico Latin kind see American of quarter in in so it's what rest that. Remember, on focused not into like segment, the the And we where profitable. we read I more based so said, is know of very on that would I on

margins. So similar through high, pretty the the to flow is what segment you'd in see

the that is still markets. remember, performance about frankly, in those to particularly in I we but strong Mexico, operational Latin really strong really the think quarter, thing year-to-date had America in

So they're still businesses. good

Just become relative to a second this here the macro half in has currency. troublesome bit backdrop

Timothy Mulrooney

rates we And Kurt, to, the off -- traditional prepared roll business, guide in the just of, of as that foreign this where basically I you of understand on I the so so framework? just think currency remarks, Understood. like, you even forward get prognosticating? it you're your of parts before not still that said quarter based your question is your end FX last third off fundamental based the what is the

Kurt McMaken

That's right. right. that's Yes,

quarter, So the line that on end one we is everything don't of rates. the at based else of that's But end the where the way that snapped Argentina. that treat is rates. QX third on the we And only

Richard Eubanks

And the the think is FX today. low end given to that way what we about in we've maybe, impact, is, what of Tim, the have probably just a guide seen

Timothy Mulrooney

already already results, going mean, doing the and... sure to you know make I was rates of XX, September know with you then. today I since yesterday, before I XX.X% mean, want it. just appreciated you're that election have I like where That's the or even

Richard Eubanks

That's right.

Timothy Mulrooney

Okay. got know it. midpoint. We that than the have of a there's more I already headwind a

enough. we Okay. and growth death. to in quarter it XX% organic that AMS was on the again, above DRS, were what Getting Beat That's to expecting.

rate You kind just here. I mid-teens businesses year organic where to given I or guess I ahead a we space still got -- good and we of community these about guys -- on entered the white the growth feeling should investment think or year-to-date performance anchored you forward, of was rate that as Is consistently that outperformed for the expectations growth year. opportunities going wanted be you high-teens set you? about level we the where all a XX%-plus really as growth are

Richard Eubanks

Yes, great. Yes. That's Tim. -- appreciate it,

that. wasn't what brought wins some We in It's to big would we had are high-teens Really and QX, which we this QX. So driver our it in talked really just than as surprised kind was. kind a better of the nice it was in impact wasn't things, online. started thought that some, the equipment things again wasn't We of saw but mentioned, outsized continued conversions. And That white penetration it we case we are be. being we it course, was mid teams in that little things QX. delivering. We just QX. what of of about sales had lot a space was and of It globally

in QX got quarters, of good think in 'XX businesses. good for X feel to kind backlog quarter continue of to about another signings, forward these roll 'XX wouldn't reason we of are revenue As more X of certainly see that about one on No QX. recurring quarters. We've we a what believe the largely

no the first shouldn't of shouldn't there's we reason that the half continue. year, maybe So think

are so optimistic. And we more

XX% XX% we're to do the our couple of long-term had proving thought proposition resonating with customers our the years. -- more. of view think was of the value maybe that. It's to we -- I sort is that next is runway medium-term We

Our frankly, and as right we're ability to our collapsing customers I from to to better. revenue our opportunities think to win get and And better also at well. starting on bookings signings execute is those time with getting

Timothy Mulrooney

from more does FX down incredibly And the drag that me equipment that the just one that sales all you Well, XX%, would to -- impact conversation that is that that XX% aside, mentioned, exciting. XX%, it

Richard Eubanks

No, not...

Timothy Mulrooney

-- or not impactful?

Richard Eubanks

year-on-year on at in not basis. fact a all this Yes, impactful quarter

Operator

question [Operator Sachs. the And next George Instructions] is from from Goldman Tong

Keen Fai Tong

for when back to Global the what business In performance a can look could like? and going your business, about imply -- performance might beyond improve and Services Global more leadership what your market timing improved above there Services conditions little bit how you might talk external new

Richard Eubanks

banknotes. Sure, business kind about it's in we're depends for the think to we're and is, yes. precious and world I thing this waiting not not about not of our the talked this helpless metals results macro But happen Again, improving to global -- and other currency around us. to largely think we've on

services expand brings as around that how I a future how take healthy those able have changes. predictability we in will Nader to being pretty outlook. these think we think around do the look cadence we fresh guidance strong really relative the to I strengthening I this and business. Take set take about background leadership end from well joined a think think think always us, to as with forecast the as the end I create also we well. Nader services. at help as a businesses a new an markets how his high we'll just think operating a fresh our look past in strong at at look forecast say and being really agenda and and to customers, we fresh opportunity leader, a able the attack markets, that And cover really is

that. excited we're again, So about

compliance doing this it talent doing not is, done we've his I of really a best has -- sure know on the global other something things rest the setting that people our in agenda think continue but we're that our I in that prior tone, strengthen comes the making the And around improving that focus attracting we're in right the prior that Nader and talked can he's previously life. and really X culture. And with from well prepared market. our employees, companies and about well that help right making is committed as big the business as I -- only as with into also the to and mentioned our customers other sure my remarks. industry

Keen Fai Tong

$XX helpful. separately, security talk the in That's can that quarter? the million little in third bit losses it. saw Got And a more you about you then

Richard Eubanks

had part and is Latin last what -- of in a actually talked about past, business, deductible investigation. coverage saw and was George, not a we got this insurance will the was the of that, with QX, as in our ongoing specifics, that profile similar We our to self-funding. This publicly our the to risk timing between but about we if Can't really was QX our Sure. talk part in on you we year it's Canada is and gold sort theft, of theft. it issue in it management America. This but

expect And wouldn't the more any impact for rest so of the we year.

Operator

closing for the our like Eubanks And question-and-answer return any I to would this Mark ladies and gentlemen, concludes conference session. to remarks.

Richard Eubanks

and for today. you we you appreciate look joining your speaking the with in fourth Thank forward soon quarter. support all We all us to

Operator

today's Thank concluded. you, presentation. you sir. for conference The attending Thank has now

disconnect. may You now

The Brink's Company (BCO) 6 Nov 242024 Q3 Earnings call transcript