Stock Alert: Brink's Trades 18% Higher On Upbeat Earnings

(RTTNews) - Shares of cash management, route-based secure logistics, and payment solutions provider The Brink's Company (BCO) are raising more than 18% Wednesday morning on positive surprise in its second-quarter earnings.

In the second quarter, the company reported adjusted earnings of $0.67 per share compared with $0.86 last year. Analysts polled by Thomson Reuters expected the company to report loss of $0.12 per share for the quarter.

Revenue for the quarter, however, decreased to $826 million compared with $914 million last year, while beating the consensus estimate of $724 million.

"After a difficult start to the quarter in April and early May due to government-mandated Covid-19 shutdowns, our retail customers rebounded quickly and to higher levels than expected. In the U.S., our largest market, revenue was down 24% at the low point in April, but recovered to an 11% decline in June," Doug Pertz, president, and chief executive officer, said.