Brink’s reported strong financial performance for 2024, with record revenue of $5.01 billion, reflecting 3% year-over-year growth (13% at constant currency). Organic revenue growth was driven by a 23% increase in ATM Managed Services (AMS) and Digital Retail Solutions (DRS), while Cash and Valuables Management (CVM) saw 9% organic growth. Operating profit rose 7% to $453 million, and adjusted EBITDA increased 5% to $912 million.

The company generated $426 million in cash from operations and $400 million in free cash flow while reducing net leverage and returning $245 million to shareholders. In the fourth quarter, Brink’s recorded a $38 million charge related to settlements with the DOJ and FinCEN regarding historical cross-border currency shipments from 2018-2020. Full-year charges, including legal fees, totaled $45.7 million. These non-recurring charges were excluded from non-GAAP results.

Looking ahead, Brink’s expects mid-single-digit organic revenue growth in 2025, with AMS/DRS projected to grow in the mid-to-high teens. The company anticipates adjusted EBITDA margin expansion of 30-50 basis points and aims to return over 50% of free cash flow to shareholders.

For Q1 2025, Brink’s projects revenue between $1.2 billion and $1.25 billion, adjusted EBITDA between $190 million and $210 million, and non-GAAP EPS between $1.10 and $1.40. The company will host a conference call on February 26 at 9:00 a.m. ET to discuss results.