Revenue from North America slipped 1% to $398 million, Latin America increased 13% to $340 million, and Europe jumped 31% to $288 million.

Non-GAAP operating profit rose 31% Y/Y to $166 million, and the corresponding operating margin increased 230 basis points Y/Y to 13.5%. GAAP operating margin improved 600 basis points to 11.2%.

Adjusted EBITDA rose 22% Y/Y to $231 million in the quarter.

The company held $1.32 billion in cash and equivalents as of September 30, 2023. Operating cash flow year-to-date totaled $293 million with a free cash flow of $216 million.

Adjusted EPS of $1.92 beat the analyst consensus of $1.79.

Outlook: Brink's still sees FY23 revenue of $4.8 billion - $4.95 billion versus the consensus of $4.88 billion.

BCO sees FY23 Adjusted EPS of $6.45 - $7.15 versus the consensus of $6.73.

The company expects FY23 adjusted EBITDA of $865 million - $915 million with Adjusted EBITDA margin currently seen at 17.5% - 19%.

Price Action: BCO shares traded higher by 7.43% at $75.89 on the last check Tuesday.