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Brink's Lifts FY17 Adj. EPS View Above Market Estimates - Quick Facts

Brink's Co. (BCO), a provider of cash management, secure logistics and security solutions, Wednesday said it has updated fiscal 2017 forecast to reflect changes in its reporting and higher interest expense related to new debt.

The company now expects full-year reported earnings to be between $2.05 to $2.15 per share, adjusted earnings to be between $3.00 and $3.10 per share, and adjusted EBITDA to be between $425 million and $435 million.

The company previously expected reported earnings per share of $2.34 to $2.44, adjusted earnings of $2.95 and $3.05 per share, and adjusted EBITDA between $415 million and $425 million.

On average, five analysts polled by Thomson Reuters expect the company to report earnings of $3.03 per share for the year. Analysts' estimates typically exclude special items.

Revenues are now expected to be $3.30 billion on a reported basis and $3.18 billion on an adjusted basis for the year, compared to previous outlook of $3.274 billion.

Further, the company said its initial target range for 2018 adjusted EBITDA is between $500 to $525 million.

The company expects additional acquisitions totaling $400 million per year in 2018 and 2019.

In its third quarter, income from continuing operations declined 19 percent to $20 million from last year's $25 million. Earnings per share dropped 21 percent to $0.38 from $0.48 last year.

Adjusted income from continuing operations was $43 million or $0.83 per share, compared to $34 million or $0.68 per share a year ago.

Revenues grew 12 percent to $850 million from $756 million a year ago.

Analysts expected earnings of $0.76 per share on revenues of $819.24 million for the quarter.

Doug Pertz, president and chief executive officer, said, "The strong improvement in third-quarter non-GAAP earnings was driven by profit increases of 90% in North America and 36% in South America."

by RTTNews Staff Writer

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