Brink’s Q1 Revenue Climbs 10% to $1.375B, Cash Flow Up $66M
Brink’s reported 10% Q1 revenue growth to $1.375 billion, with 4.5% organic and 15% AMS/DRS growth, while operating cash flow rose $89 million and free cash flow increased $66 million. It expects to close the NCR Atleos acquisition by Q1 2027, targeting $200 million in annual synergies.
1. Strong Q1 Revenue and Growth
In the first quarter, Brink’s generated $1.375 billion in revenue, up 10% year-over-year, driven by 4.5% organic growth and a 15% increase in AMS/DRS organic revenue. The higher-margin services and digital retail segments contributed significantly to the top-line expansion.
2. Margin Expansion and Cash Flow Improvement
Non-GAAP adjusted EBITDA rose 12% to $168 million, boosting the operating profit margin by 10 basis points to 12.2%. Operating cash flow increased by $89 million and free cash flow jumped by $66 million, pushing trailing twelve-month free cash flow above $500 million for the first time.
3. Outlook on NCR Atleos Acquisition
Brink’s continues its planned acquisition of NCR Atleos, targeting a closing by the end of Q1 2027. A dedicated integration team aims to realize $200 million in annual run-rate cost synergies, with regulatory review progressing as expected.
4. Q2 Guidance and 2026 Framework
For Q2 2026, the company expects revenue between $1.37 billion and $1.43 billion, non-GAAP adjusted EBITDA of $245 million to $265 million, and non-GAAP EPS of $1.85 to $2.25. The full-year framework forecasts mid-single-digit organic revenue growth, 30-50 basis points of EBITDA margin expansion, and 40-45% free cash flow conversion.