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: Jasper Bidon - truest securities. - Analyst
: Good morning guys. This is Jasper Bidon for Toby looks like the organic guide for this year is, rise to low teams versus, I think below the mid teams
last quarter. Just on the organic side, could you outline the relative impact of softer global services demand versus what sounded like an increase
in your A MS and DRS assumptions?
Question: Jasper Bidon - truest securities. - Analyst
: If that makes sense. And then free cash conversion looks like it's going to be high 30s through the year. I think at the end of the prepared remarks,
you mentioned getting back to the the long term framework to clarify. Do you think approaching? I think the near 50% long term free cash conversion
target could still be achievable in 2025 or would, would that component potentially take a little bit more time?
Question: Jasper Bidon - truest securities. - Analyst
: Okay. Yeah, that makes sense. Last question for me, you mentioned the FX headwinds. Obviously, you know, we're looking at a pretty big move in
the dollar this morning. Should we think about what we're seeing this morning is potentially incremental headwind versus four Q I guess absolute
revenue gone it if the FX move holds.
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NOVEMBER 06, 2024 / 2:00PM, BCO.N - Q3 2024 Brinks Co Earnings Call
Question: Jasper Bidon - truest securities. - Analyst
: Thanks for taking the questions.
Question: Tim Mulrooney - William Blair - Analyst
: Yeah, Kurt Mark Good morning. Thanks for taking my question. I just want to build off of the conversation you're having with Jasper there real
quick on the foreign currency. You know, II I think before in the second quarter, you're expecting a $65 million or so incremental. Headwind, correct
me if I'm wrong. Relative to your original guidance for the second half of the year. So, can, can you help me understand just exactly. Okay, what
that incremental headwind was for the third quarter and now what you're expecting for the fourth quarter?
Question: Tim Mulrooney - William Blair - Analyst
: Understood. And just last question on FX before we get to like, you know, the fundamental parts of your business, you know, the just so that I
understand what your guide is based off of. Is it still based off that traditional framework? I think you even said this in your prepared marks basically
where you roll forward the foreign currency rates as of the end of the third quarter. So you're not prognosticating.
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NOVEMBER 06, 2024 / 2:00PM, BCO.N - Q3 2024 Brinks Co Earnings Call
Question: Tim Mulrooney - William Blair - Analyst
: That's where I was going with it. I mean you already know today or yesterday even before the election results, I mean you already know that the
rates have appreciated since then. I just want to make sure you're doing September 30th of like 21.9 and that's you know, last. Okay. Okay. Alright,
so we already know that there's a more of a headwind than, than the midpoint. Okay. That's enough beat, beat that to death. Thank you. Getting
on to the AM and dr you know, organic growth 26% in the quarter. Again, you know, it's above what we were expecting. You guys consistently
outperformed expectations all year here. II I just kind of wanted to, I guess I was level set on a midteens or, or a high teams organic growth rate for
these businesses as we entered the year. Is that still where we, where the investment community should be anchored? A as we think about growth
going forward or are you feeling really good about that? 20% plus growth rate? Given the performance year-to-date and the White Space opportunities
you got ahead of you.
Question: Tim Mulrooney - William Blair - Analyst
: Well, all the FX conversation aside that that, that is incredibly exciting and you know, I I just one more for me that the equipment sales that you
mentioned, would that impact that 26%? Does that drag it down to 25-24 or.
Question: Tim Mulrooney - William Blair - Analyst
: Got it. Okay. Well, thank you for taking my questions and, and good luck in the fourth quarter here.
Question: George Tong - Goldman Sachs - Analyst
: Hi, thanks. Good morning in your services business. Hi. Going back to your global services business. Can you talk a little bit more about how new
leadership there could improve performance above and beyond what external market conditions might might imply and what the timing for when
improved performance might look like.
Question: George Tong - Goldman Sachs - Analyst
: Got it that's helpful. And then separately, can you talk a little bit more about the $10 million insecurity losses that you saw in the third quarter?
Question: George Tong - Goldman Sachs - Analyst
: Got it. That's helpful. Thank you.
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