The Brink’s Company (NYSE:BCO) Q3 2023 Earnings Call Transcript

Mark Eubanks: Yes. Second question was the Olympics. Yes, I’ll take that. This is Mark. Yes. Certainly, we would expect more traffic, more travel into France, particularly as a localized impact for our business. I don’t know how much that would impact the broader continent. But certainly in France, we would expect to see increased activity and increased volumes during those periods and leading up to those periods. Particularly around the ATM managed services space.

Jack Wilson: Thank for the color there. And sort of on the AMS and DRS front, so we mentioned you reached over 20% in the trailing 12 months revenue. Is there sort of a ceiling on that, that you see in the near-term and maybe the long-term as a share of total revenue?

Mark Eubanks: Yes. No, I don’t see that. In fact, we expect to continue to march that number up as we – that’s our focused area. It’s where our preferred services would be. Listen, we’d love to be 100%. I don’t know that that’s always going to be possible because certain customers will want some of these specific services. But we expect that number to continue to grow. And maybe it bumps up and down along the way, a point or two up, a point or two down, but we think that the continued upward trajectory would be again, going up and penetrating a higher percentage of our business. Maybe you could see some seasonality in Q4, just given the retail environment, there’s not a whole lot of work gets done in stores during the shopping season around Christmas, particularly in Latin America, North America and Europe, maybe in Asia similar around Chinese New Year that you might see that bump around, but nothing that we would say would be – that wouldn’t continue to take us upward trajectory.

So no ceiling.

Operator: Yes, thank you. And this concludes the question-and-answer session. I would like to turn the call over Mark Eubanks for closing comments.

Mark Eubanks: Great. Thank you all for joining us today. We appreciate all your support and we look forward to speaking with each of you soon. Have a great day.

Operator: Thank you. The conference has now concluded. Thank you for attending today’s presentation and you may now disconnect your lines.