Brink's Co. (BCO) said that it affirmed its 2021 guidance including revenue growth of 21% to about $4.45 billion at the midpoint, which is up 10% on an organic basis. Analysts polled by Thomson Reuters expect the company to report revenues of $4.41 billion for fiscal year 2021. Analysts' estimates typically exclude special items.
The company expects 2021 adjusted EBITDA growth of 25% to about $705 million.
In 2022, the company targets organic revenue growth of 5% to 7%, adjusted EBITDA growth in the mid-teens to a range between $785 million and $825 million, and free cash flow growth of more than 50% to a range between $350 million and $400 million.
The company noted that 2021 guidance, and its expected post-pandemic return to mid-single-digit organic revenue growth and double-digit profit growth, are driven primarily by core operations.
The company said its strategy 2.0 digital initiatives, with the exception of the PAI acquisition, are not included in current outlook for 2021 or 2022, though the company expects the initiatives to drive additional organic revenue and profit growth in 2022 and beyond.
The company plans to disclose additional financial targets for 2022 and 2023 at Investor Day event in November.
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