The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: George Tong - The Goldman Sachs Group, Inc. - Analyst
: Hi. Thanks. Good morning.
Question: George Tong - The Goldman Sachs Group, Inc. - Analyst
: You saw significant AMS and DRS organic growth of 26% in the quarter, which was still strong at 23%, even if you exclude the equipment sales
benefit. Can you talk more about broader customer traction and receptivity you're seeing within AMS and DRS? And how sustainable current
growth rates are?
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AUGUST 07, 2024 / 1:00PM, BCO.N - Q2 2024 Brinks Co Earnings Call
Question: George Tong - The Goldman Sachs Group, Inc. - Analyst
: Got it. That's very helpful color. Sticking with AMS and DRS, could you directionally parse out the growth in terms of which of the two grew stronger?
Where was the growth really led by? And how much of the growth came from conversions of legacy traditional CIT services and Cash and Valuables
Management versus new business wins of non-existing customers?
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AUGUST 07, 2024 / 1:00PM, BCO.N - Q2 2024 Brinks Co Earnings Call
Question: George Tong - The Goldman Sachs Group, Inc. - Analyst
: Got it. Very helpful. Thank you.
Question: Tim Mulrooney - William Blair & Company, L.L.C. - Analyst
: Kurt, Mark good morning.
Question: Tim Mulrooney - William Blair & Company, L.L.C. - Analyst
: Glad to be here. Thank you very much. Just a couple of questions for me this morning. We saw some nice improvements in the North America
organic growth in the second quarter here. So, I'm curious is there a good way to think about organic growth run rate as we move into the back
half of this year?
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AUGUST 07, 2024 / 1:00PM, BCO.N - Q2 2024 Brinks Co Earnings Call
Is that -- what we saw in the second quarter is that a good number to think about representative for the back half? Or do you expect another step-up
here as we move into the second half of the year?
Question: Tim Mulrooney - William Blair & Company, L.L.C. - Analyst
: Yes. That's exactly what I was wondering, Mark, that lapping the portfolio rationalization there was a little bit more there. So, thank you.
Question: Tim Mulrooney - William Blair & Company, L.L.C. - Analyst
: Got it. Okay. Thank you. And then shifting gears here from North America down to Latin America, I mean, it just looks like that FX headwind spiked
quite a bit in Latin America. And you're able to get pricing offset most of that.
But can you just like stepping back can you just help us understand a bit better how you're approaching this inflationary issue if there is an
expectation for this elevated headwind to continue through the year? And any detail on how the Latin America segment is performing outside of
these highly inflationary areas like Argentina?
Question: Tim Mulrooney - William Blair & Company, L.L.C. - Analyst
: Understood. Okay. Thanks very much and great quarter guys.
Question: Jack Wilson - Truist Securities - Analyst
: Yes. Hi, good morning, guys. This is Jack Wilson on for Toby. Maybe just to start out, can we really sort of maybe dig into sort of the long-term
business mix and sort of how you see that developing with sort of AMS and DRS growing so quickly?
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AUGUST 07, 2024 / 1:00PM, BCO.N - Q2 2024 Brinks Co Earnings Call
Question: Jack Wilson - Truist Securities - Analyst
: Okay. Great color there. And then just on the capital allocation front, so in the same vein, are there any sort of opportunities you see in the AMS/DRS
space to sort of grow inorganically or to sort of add new technologies to the portfolio?
Question: Jack Wilson - Truist Securities - Analyst
: Sounds good. Thanks. I'll turn it over.
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AUGUST 07, 2024 / 1:00PM, BCO.N - Q2 2024 Brinks Co Earnings Call
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