BCO 10-K & 10-Q changes, risk factors and insider trading

Our strategy is to grow Brink's by providing asolutions superiorthat customersecure experiencecommerce through the delivery of customer-focused innovation while operating with excellence and driving continuous improvement.efficiency. We may not be successful in growing revenue in our services lines or in improving the cost to serve our customers through process improvements. We also may not be successful in strengthening and leveraging our IT capabilities to deliver tech-enabled services. If we are unable to achieve our strategic objectives and anticipated operating profit improvements, our results of operations and cash flows may be adversely affected.

While cash remains one of the most popular forms of consumer payment in the U.S. and globally, the growth of payment options other than cash could reduce the need for services related to cash, thereby affecting our financial results. We arecontinue developingto develop new services that offer current and prospective customers withthe opportunitiesopportunity to streamline their cash processing,processing makingto keep cash acceptance more competitive with other forms of payment. There is a risk that these initiatives may not offset the risks associated with a decline in the overall share of cash payments and that our business, financial condition, results of operations and cash flows could be negatively impacted.

We currently serve customers in more than 100 countries, including 51 countries where we operate subsidiaries. SeventySixty-nine percent (70%69%) of our revenues in 20242025 came from operations outside the U.S. We expect revenues outside the U.S. to continue to represent a significant portion of total revenues. Business operations outside the U.S. are subject to political, economic and other risks inherent in operating in foreign countries, such as:

Brink’s Capital LLC, a subsidiary of the Company, is federally registered as a “Money Services Business” with the U.S. Department of Treasury’s Financial Crimes Enforcement Network ("FinCEN"). It is also currently registered and/or licensed—and may in the future be registered and/or licensed—as a “money transmitter” or similar designation with various state or local jurisdictions in the U.S. related to delivering future products and services. These registrations subject us to, among other things, having an effective anti-money laundering ("AML") compliance program, record-keeping requirements and reporting requirements, and examination by state and federal regulatory agencies. In Canada, as of July 1, 2024, Brink’s armouredarmored transporationtransportation operations are subject to Proceeds of Crime (Money Laundering) and Terrorist Financing Act as a federally registered “Money Services Business” with the Financial Transactions and Reports Analysis Centre of Canada ("FINTRAC"). This registration subjects us to, among other things, having an effective AML compliance program, record-keeping requirements and reporting requirements, and periodic examination by FINTRAC. These and our other regulatory obligations may significantly increase our costs or impact our operations. Our failure to comply with or any determination that we have violated any applicable laws or regulations could result in, among other things, substantial fines or revocation of our Money Services Business status, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.

We rely on our information technology ("IT") infrastructure, including the Brink's Global Information Security ("GIS") Program, which is designed to reduce risk by ensuring that computer systems are secure through protecting networks, systems, hardware, and data to mitigate cybersecurity risk and efficiently run our business. If there were to be significant problems with our IT infrastructure, such as IT data center or system failures or unplanned system disruptions, failure to develop new technology platforms to support new initiatives and product and service offerings, or a failure of our GIS Program, it could halt or delay our ability to service our customers, hinder our ability to conduct and expand our business and require significant remediation costs. RemoteSecuring remote work by our personnel and remote access to our systems havecontinues alsoto increasedbe significantly,a whichpriority couldas increaseremote access to our systems represents a heightened level of cybersecurity risk profile.to our business. We believe our cybersecurity risksrisk profile will furthercontinue increaseto expand as we expandbroaden services, completepursue mergers and acquisitions, and employ emerging technologies, mobile applications, third-party service providers and cloud-based services. Hacking, phishing attacks, ransomware, insider threats, physical breaches or other actions may cause confidential information belonging to Brink’s, its employees or customers to be misused. Moreover, the techniques used to obtain unauthorized access to networks or to sabotage systems change frequently and generally are not recognized until launched against a target. We may be unable to anticipate these emerging techniques, react in a timely manner, or implement adequate preventative measures. We have experienced cybersecurity incidents and unplanned system disruptions in the past, but none of these incidents or disruptions, individually or in the aggregate, have had a material adverse effect on our business, financial condition or results of operations. A significant cybersecurity incident that impacts our system,systems, applicationapplications, cloud resources or data centercenters that houseshouse sensitive and confidential data, including, but not limited to, personally identifiable information and business sensitive information, could have a material adverse effect on our business, financial condition, results of operations and cash flows. Additionally, such an incident may result in significant challenges and costs related to coordination with third-party service providers in order to resolve related issues.

If our third-party providers do not respond in a timely manner to our needs, disaster recovery, business continuity and crisis management activities could be negatively impacted. We have programs in place that are intended to identify, protect against, detect, respond to, and recover from cybersecurity incidents and breaches and that provides employee awareness training regarding cyber risks; however, due to evolving and advanced sophisticated attackers, cyber attacks remain increasingly difficult to detect and we may need to allocate additional resources to continue to enhance our information security measures and/or to investigate and remediate any security vulnerabilities. Cyber attacks and security breaches may also persist undetected over extended periods of time and may not be mitigated in a timely manner to minimize the impact of a cyber attacks or security breach. AnyA significant cybersecurity incident, involving Brink's or its third-party service providers, could damage our reputation, expose us to the risks of litigation and liability, disrupt our business or otherwise have a material adverse effect on our business, financial condition, results of operations and cash flows. Although the Company maintains cybersecurity insurance, the Company's insurance may not be adequate to cover all losses that may be incurred in the event of a significant disruption or failure of its information technology systems.

As a global company we must adhere to applicableever lawschanging legal and regulationsregulatory environments in numerous regions regarding data privacy, data protection, and data security. Privacy and data protection laws vary between countries and are subject to interpretation, which may create inconsistent or conflicting requirements. For example, the European Union’s General Data Protection Regulation (“GDPR”), which became effective in May 2018, greatly increased the jurisdictional reach of European Union law. Since its inception, more geographies in which we operate have enacted laws similar to the GDPR, including several countries in Asia and Latin America, as well as several states in the U.S. For example, the California Consumer Privacy Act (the “CCPA”), which became effective on January 1, 2020, imposes stringent data privacy and data protection requirements regarding the personal information of California residents, and provides for penalties for noncompliance, as well as a private right of action from individuals for certain security breaches. Additionally, the California Privacy Rights Act, which became effective on January 1, 2023, significantly modified the CCPA and has resulted in further uncertainty. The GDPR and these other privacy and data protection laws impose requirements related to the handling of personal data, mandate public disclosure of certain data breaches, and provide for substantial penalties for non-compliance. Our efforts to comply with GDPR and other privacy and data protection laws may impose significant costs that are likely to increase over time. A breach of the GDPR or other such data protection regulations could result in regulatory investigations, reputational damages, fines and sanctions, orders to cease or change our processing of our data, enforcement notices, or assessment notices (for a compulsory audit). We could incur substantial penalties or be subject to litigation related to violation of existing or future data privacy laws, including representative actions and other class action-type litigation, which could amountresult toin significant compensation or damages liabilities, as well as associated costs, diversion of internal resources, and reputational harm, all of which may have a material adverse effect on our business, financial condition, results of operations and cash flows.

On NovemberDecember 2,10, 2023,2025, the Board authorized a new share repurchase program thatreplacing willthe expireprior 2023 authorization. Under this program, which expires on December 31, 2025. Under this program,2027, we are authorized to repurchase shares of common stock for an aggregate purchase price not to exceed $500$750 million, excluding fees, commissions and other ancillary expenses.

Pursuant to the Sarbanes-Oxley Act of 2002, we are required to document and test our internal control procedures and to provide a report by management on internal control over financial reporting, including management’s assessment of the effectiveness of such control.controls. TheWhile the Company hadhas not identified a material weakness in its internal control over financial reporting identifiedin duringthis 2022, which was fully remediated by December 31, 2023; however,report, there can be no assurances that a material weakness will not occur in the future. Deficiencies, including any material weakness, in our internal control over financial reporting that may occur in the future could result in misstatements of our results of operations, restatements of our financial statements, a decline in our stock price, or otherwise materially adversely affect our business, reputation, results of operations, financial condition, or liquidity.

Shareholder activism, which could take many forms and arise in a variety of situations, has been increasing among publicly traded companies. Shareholder activism, including potential proxy contests,contests or other forms of engagement or pressure, requires significant time and attention by management and the Board, potentially hindering the Company’s ability to execute its strategic plan and negatively affecting the trading value of our common stock. Additionally, shareholder activism could give rise to perceived uncertainties as to the Company’s future direction, adversely affect its relationships with key executives, customers and other business partners, or make it more difficult to attract and retain qualified personnel. If the Company is targeted by an activist shareholder, it could incur significant legal fees and other expenses related to activist shareholder matters. Any of these impacts could materially and adversely affect the Company and operating results.

We are a leading global provider of cash and valuables management, digital retail solutions and ATM managed services, and our long-term success depends heavily on our ability to maintain and longevity are based to a large extent onstrengthen our reputation for trust, reliability and integrity. Our brand reputation, particularly the trust placed in us by our customers, could be negatively impacted inif theour eventcustomers ofperceive--or perceivedexperience--any or actual breachesfailure in our ability to conductoperate our business ethically, securely and responsibly. In addition, we have licensing arrangements that permit certain entities to use Brink’s name and/or other intellectual property in connection with their businesses. If any of these entities experienced an actual orwere perceived breachas infailing its(or abilityfailed) to conduct its business ethically, securely or responsibly, it could have a negative effect on our name and/or brand. Any damage to our reputation or brand could have a material adverse effect on our business, financial condition, results of operations and cash flows.

This document contains both historical and forward-looking information.information which is based on management’s current expectations, assumptions and beliefs and involves risks and uncertainties that could cause actual results to differ materially.which is based on management’s current expectations, assumptions and beliefs and involves risks and uncertainties that could cause actual results to differ materially.. Words such as “anticipates,” “assumes,” “estimates,” “expects,” “projects,” “predicts,” “intends,” “plans,” “potential,” “believes,” "“could,"” “may,” “should” and similar expressions may identify forward-looking information. Forward-looking information in this document includes, but is not limited to, statements regardingconcerning future performance of The Brink’sthe Company and its global operations,subsidiaries, including: the impactanticipated ofresults from the Company's ongoingstrategic initiatives, including transformation initiatives and other strategictechnology initiativesand operational investments, which may take longer than expected to implement or may not deliver anticipated benefits; difficulty in repatriating cash; continuedfluctuating strengtheningstrength of the U.S. dollar; anticipated costs of our reorganization and restructuring activities; our ability to consummate acquisitions and integrate their operations successfully, collection of receivables related to the internal loss in the U.S. global services operations; support for our Venezuela businesssuccessfully; changes in allowance calculation methods; future working capital performance; our ability to generate operating and free cash flow and the timing and predictability of such cash flows; the impact of foreign currency forward and swap contracts; our effective tax rate, including the impact of Pillar Two rulesrate; realization of deferred tax assets; the impact of foreign tax credit regulations; the ability to meet liquidity needs in light of operating requirements, strategic transactions, and macroeconomic conditions; expenses and payouts for the U.S. retirement plans and the funded status of the primary pension plan; expected liability for and future contributions to the United Mine Workers of America ("UMWA") plans; liability for black lung obligations; the effect of pending legal matters, including the Chile antitrust matter; the impacts of the operating environment in Argentina; and expected future payments under contractual obligations. Forward-looking information in this document is subject to known and unknown risks, uncertainties, and contingencies, which are difficult to quantify and which could cause actual results, performance or achievements to differ materially from those that are anticipated.

•general economic issues, including supply chain disruptions, fuel price increases, new or increased international tariffs,tariffs inflationand/or trade barriers, inflation, recessionary conditions and changes in interests rates;

•risks associated with the usage of artificial intelligence ("AI") technologiestechnologies, including operational, regulatory, cybersecurity, data integrity and reputational risks;

•our ability to maintain an effective IT infrastructure and safeguard confidential information and risks related to a failure of our information technologyIT systems and networks, including cloud-based applications, and risks associated with current and emerging technology threats, and damage from computer viruses, unauthorized access,access and cyber attacks, including increasingly sophisticated cyber attacks incorporating the use of AI and other similar disruptions;

•risks associated with operating in foreign countries, including changing political, labor and economic conditions (including political conflict or unrest), regulatory issues (including the imposition of international sanctions, including by the U.S. government), military conflicts (including but not limited to the conflict in Israel and surrounding areas,areas asand wellother asregional or global conflicts, and the possible expansion of such conflicts and potentialrelated geopolitical consequences),consequences, currency restrictions and devaluations, restrictions on and cost of repatriating earnings and capital, impact on the Company's financial results as a result of jurisdictions' higher-than-expected inflation and those determined to be highly inflationary, and restrictive government actions, including nationalization;

•our ability to identify, evaluate and complete acquisitions and other strategic transactions and to successfully integrate acquired companiescompanies, including the costs, timing, financing arrangements, and realization of expected benefits of such transactions;

This list of risks, uncertainties and contingencies is not intended to be exhaustive. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found under “Risk Factors” in Item 1A of this Form 10-K and in our other public filings with the SEC. The information included in this document is representative only as of the date of this document, and The Brink’s Company undertakes no obligation to update any information contained in this document. All risk factors and uncertainties described herein and therein should be considered in evaluating forward-looking statements, and all of the forward-looking statements in this document are expressly qualified by the cautionary statements contained or referred to herein and therein. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on the Company or our business or operations. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this document. The forward looking information included in this document is representative only as of the date of this document, and The Brink’s Company undertakes no obligation to update, revise or clarify forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

•Europe – totalpredominantly operations in European countries that primarily provide services outside of the BGS line of business, and

Consolidated Revenues Revenues increased $137.3$249.3 million due to organic increases in North America ($91.2 million), Latin America ($461.8$66.9 million), Europe ($82.3 million), North America ($36.6$57.9 million), and Rest of World ($20.7$41.4 million) and the favorable impact of acquisitions ($23.7$19.5 million), partially offset by the unfavorable impact of currency exchange rates ($487.8$27.6 million). The unfavorable currency impact was driven primarily by the Mexican peso, Argentine peso.peso, and Brazilian real. Revenues increased 12%5% on an organic basis primarily due to inflation-based price increases and organic growth in AMS and DRS revenue. See below for our definition of “organic change” and "organic growth."

Consolidated Costs and Expenses Cost of revenues increased 1%4% to $3,743.1$3,903.2 million primarily due to the impact of higher revenue partially offset by the impact of currency exchange rates. Selling, general and administrative costs increaseddecreased 21.3%7% to $834.5$778.0 million primarily due to organic increases in labor and other administrative costs,lower costs incurred in connection with the resolutions of the U.S. Department of Justice ("DOJ") and the U.S. Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") investigations (seeand the depreciation adjustment discussed in Note 23), and costs related to transformation initiatives,1 partially offset by theorganic theincreases impactin of currency exchange rates.labor.

•organic increases in Latin America ($149.0 million), Europe ($12.2 million), North America ($7.6$52.5 million), and Rest of World ($5.6$21.3 million), and Europe ($16.1 million),

•higherlower corporate expenses on an organic basis ($12.4$20.3 million).,

Consolidated Income from Continuing Operations Attributable to Brink’s and Related Per Share Amounts Income from continuing operations attributable to Brink’s shareholders increased $75.8$38.3 million to $161.8$200.1 million primarily due to lower income tax expense ($46.5 million), higher interest and other nonoperating income ($34.3 million), and the increase in operating profit mentioned above, partially offset by higher income tax expense ($50.6 million), lower interest and other nonoperating income ($34.8 million), and higher interest expense ($31.6$10.1 million). Diluted earnings per share from continuing operations was $3.61,$4.70, up from $1.83$3.61 in 2023.2024.

•organic increasesincrease in Latin America ($149.0 million), Europe ($12.2 million), North America ($7.6$52.5 million), and Rest of World ($5.6$21.3 million) and Europe ($16.1 million)

•higherlower corporate expenses on an organic basis ($12.4$20.3 million)., and

Non-GAAP Consolidated Income from Continuing Operations Attributable to Brink’s and Related Per Share Amounts Non-GAAP income from continuing operations attributable to Brink’s shareholders decreasedincreased $23.2$20.6 million to $321.4$342.0 million due to the operating profit increase mentioned above, partially offset by higher interestincome tax expense ($32.4$33.1 million), lower interest and other nonoperating income ($20.6$18.0 million), and higher noncontrolling interest ($1.2 million), partially offset by lower income tax expense ($16.6$10.1 million) and the operating profit increase mentioned above.. Non-GAAP diluted earnings per share from continuing operations was $7.17,$8.05, downup from $7.35$7.17 in 2023.2024.

Revenues increased 3%6% ($48.6$92.9 million) primarily due to a 2%6% organic increase ($36.6$91.2 million) and the favorable impact of acquisitions ($13.9$4.3 million), partially offset by the unfavorable impact of currency exchange rates ($1.9$2.6 million) from the Canadian dollar. Organic revenue increased primarily due to price increases and growth in AMS and DRS revenuerevenue, inas thewell U.S., partially offset by loweras BGS revenue. Operating profit increased ($8.8$52.7 million), primarily due to a 4%27% organic increase ($7.6$52.5 million) and the impact of acquisitions ($0.2 million). The organic increase was primarily driven by the net impact of revenue mix and cost productivity improvements from transformation initiatives in the U.S., partially offset by technology and operational investments.U.S.

Revenues decreased 2% ($21.3$21.4 million) primarily due to the unfavorable impact of currency exchange rates ($485.3$98.5 million), primarily from the Argentine peso, mostlyMexican peso, and Brazilian real, partially offset by a 35%5% organic increase ($461.8$66.9 million) and the favorable impact of acquisitions ($2.2$10.2 million). The organic increase was driven by inflation-based price increases across the segment andwith a majority of the impact from Argentina, as well as growth in AMS and DRS revenue. Operating profit decreased 3%10% ($8.0$28.4 million) due to the unfavorable currency exchange rates ($156.9$22.0 million) largelyand by a 4% organic decrease ($10.4 million), partially offset by athe 53%favorable organicimpact increaseof acquisitions ($149.0$4.0 million). The organic increasedecrease was driven by organiclower revenuevolumes growthpartially whichoffset outpaced the impact ofby labor and other cost increases.reduction actions.

Revenues increased 8%10% ($90.6$124.5 million) due to the favorable impact of currency exchange rates ($61.6 million), primarily from the Euro, a 7%4% organic increase ($82.3$57.9 million), and the favorable impact of acquisitions ($7.6$5.0 million). The organic increase was primarily due to price increases throughout the segment and the growth of AMS and DRS revenue. Operating profit increased ($12.9$26.1 million) primarily due to an organic increase ($12.2$16.1 million), the favorable impact of currency exchange rates ($9.0 million), and the favorable impact of acquisitions ($0.8$1.0 million). The organic increase was primarily driven by higher revenue which outpaced the impact of labor and other cost increases and the revenue mix benefit of higher AMS and DRS revenue.

Revenues increased 2%7% ($19.4$53.3 million) due a 3%6% organic increase ($20.7$41.4 million). The organic increase was primarily due to growth in AMSBGS and DRS.revenue. Operating profit increased $4.5$22.8 million primarily due to a 3%14% organic increase ($5.6$21.3 million). The organic increase was primarilydriven dueby toa thefavorable BGS revenue mix benefit of higher AMS and DRS revenue.impact.

Corporate Expenses include costs to manage the global business and perform activities required by public companies as well as other items that are considered part of the Company's operations and revenue generating activities but are not considered when the chief operating decision maker ("CODM") evaluates segment results. Examples include corporate staff compensation, corporate headquarters costs, global and regional management costs, share-based compensation, and currency transaction gains and losses.

Corporate expenses in 20242025 increaseddecreased by $3.8$7.3 million versus the prior year. This was primarily driven by highera reduction in charges related to insurance and security losses ($11.2 million), lower net compensation costs,costs including($10.3 share-basedmillion), compensationlower global information technology costs ($5.6 million), and bonusdecreased accrualsprofessional fees ($11.8$4.6 million), partially offset by higherlower foreign currency transaction gains ($8.6$13.0 million) and higher global management costs not allocated to segments ($11.9 million).

Costs associated with certain reorganization and restructuring actions are excluded from reported non-GAAP results. These items include primarily include severance charges and asset impairment losses. The 2022 Global Restructuring Plan was designed to, among other things, enable growth, reduce costs and related infrastructure, and to mitigate the potential impact of external economic conditions in light of the COVID-19 pandemic. Other restructuring actions were primarily in response to the COVID-19 pandemic and a decision to exit a line of business in our Canada operating unit. Due to the unusual nature of the underlying events that led to these actions, the charges are not considered part of the Company's operations and revenue generating activities. Management has excluded these amounts when evaluating internal performance. As such, they have not been allocated to segment or Corporate results and are excluded from non-GAAP results.

Argentina highly inflationary impact Beginning in the third quarter of 2018, we designated Argentina's economy as highly inflationary for accounting purposes. As a result, Argentine peso-denominated monetary assets and liabilities are now remeasured at each balance sheet date to the currency exchange rate then in effect, with currency remeasurement gains and losses recognized in earnings. In addition, nonmonetary assets retain a higher historical basis when the currency is devalued. The higher historical basis results in incremental expense being recognized when the nonmonetary assets are consumed. In 2022, we recognized $41.7 million in pretax charges related to highly inflationary accounting, including currency remeasurement losses of $37.6 million. In 2023, we recognized $86.8 million in pretax charges related to highly inflationary accounting, including currency remeasurement losses of $79.1 million. In 2024, we recognized $35.0 million in pretax charges related to highly inflationary accounting, including currency remeasurement losses of $18.4 million. In 2025, we recognized $10.2 million in pretax charges related to highly inflationary accounting, including currency remeasurement losses of $17.0 million. Highly inflationary adjustments also impact gains and losses on marketable securities due to the change in exchange rates. These non-cash charges are not part of the Company's operations and revenue generating activities. Management has excluded these amounts when evaluating internal performance. As such, they have not been allocated to segment or Corporate results and are excluded from non-GAAP results.

Transformation initiatives During 2023, we initiated a multi-year program intended to accelerate growth and drive margin expansion through transformation of our business model. The program is designed to help us standardize our commercial and operational systems and processes, drive continuous improvement and achieve operational excellence. Accordingly, we incurred $5.5 million of expense in 20232023, $28.4 million of expense in 2024, and an additional $28.4$26.0 million in 2024.2025. The transformation costs primarily include third partythird-party professional services andservices, project management charges.charges Theseand costsseverance. relateBecause tothese expenses are associated with a discrete programtransformation andinitiative, they are not reflective of our ongoing operating cost structure, and are not indicative of our core operating expenses or normal activities. Additionally,Accordingly, management has excluded these amounts when evaluating internal performance. As such, they have not been allocated to segment or Corporate results and are excluded from non-GAAP results.

DOJ/FinCEN investigations During 2024,2025, we accrued $45.7$6.5 million in connection with the DOJ and FinCEN investigations, which was primarily related to cross-border shipments of cash and things of value and anti-money laundering and Bank Secrecy Act compliance. This amount represents an estimate of $42.0 million for the resolutions with the DOJ and FinCEN, as well as $3.7 million of third-party legal costs associated with thisthese matter.matters, including upfront expenses that are directly attributable to establishing compliance programs. In the first quarter of 2025, we reached resolutions with both the DOJ and FinCEN. These costs are not considered part of the Company's operations and revenue generating activities. Additionally, the nature of these amounts, including associated third-party costs,amounts and the underlying investigationinvestigations are such that they are not reasonably likely to recur within two years, nor were there similar charges within the prior two years. Management has excluded these amounts when evaluating internal performance. Therefore, these amounts have not been allocated to segment or Corporate results and are excluded from non-GAAP results. See Note 23 for details.result.

Non-routine auto loss matter In 2023, a Brink’s employee was involved in a motor vehicle accident with unique circumstances that resulted in the death of a third party and, in connection with the ensuing litigation, Brink’s recognized ana $10.0 million charge. Due to the unusual nature of the matter, including the unique circumstances of the claim, potential magnitude of remedy, and variation from our ordinary-course litigation strategy, we consider the litigation as separate and distinct from routine legal matters. Management does not believe that similar litigation will likely recur within the next two years, and there have been no similar matters within the prior two years. Management has excluded these amounts when evaluating internal performance. Therefore, they have not been allocated to segment or Corporate results and are excluded from non-GAAP results.

Analysis of Consolidated Results: FirstSecond Quarter 2026 versus FirstSecond Quarter 2025

Consolidated Revenues Revenues increased $128.4$91.8 million due to the favorable impact of currency exchange rates ($71.1$37.4 million), organic increases in North America ($20.4 million), Rest of World ($13.2$28.8 million), LatinNorth America ($11.4$10.3 million), Europe ($7.9 million), and EuropeLatin America ($10.7$6.9 million), and the favorable impact of acquisitions ($1.6$0.5 million). The favorable currency exchange rate impact was driven primarily by the euro, Mexican peso, Brazilian real, and Brazilianthe real.euro. Revenues increased 4% on an organic basis primarily due to inflation-based price increases, and organic growth in AMS and DRS revenue, as well as BGS revenue. See our definition of “organic growth” on page 40.46.

Consolidated Costs and Expenses Cost of revenues increased 9%5% to $1,019.4$1,026.2 million primarily due to the impact of currency exchange rates and the impact of higher revenuerevenue. Selling, general and administrative costs increased 26% to $232.6 million primarily due to costs from the NCR Atleos acquisition and transformation initiatives and the impact of currency exchange rates. Selling, general and administrative costs increased 35% to $250.8 million primarily due to costs from NCR Atleos acquisition and transformation initiatives, higher incentive compensation, and the impact of currency exchange rates.

•higher expenses due to the NCR Atleos acquisition and transformation initiatives ($33.8$31.0 million) and,

•higher corporate expenses on an organic basis ($11.5$7.9 million), partially offset by:and

•favorableunfavorable changes in currency exchange rates ($6.7$2.6 million), driven primarily by the Mexican peso, the euro, and Brazilian real.

Consolidated Income from Continuing Operations Attributable to Brink’s and Related Per Share Amounts Income from continuing operations attributable to Brink’s shareholders decreasedincreased $19.5$0.6 million to $32.1$44.5 million due to the lower income tax expense ($6.7 million) and lower noncontrolling interest ($0.8 million), partially offset by the decrease in operating profit mentioned above, lower interest and other nonoperating income ($8.8 million), higher interest expense ($6.0$4.3 million), and higher noncontrolling interest ($0.4 million), partially offset by the lower income tax expense ($4.6$2.0 million). Earnings per share from continuing operations was $0.77,$1.07, downup from $1.19$1.03 in the firstsecond quarter of 2025.

Analysis of Consolidated Results: FirstSecond Quarter 2026 versus FirstSecond Quarter 2025

•organic increases in NorthRest Americaof World ($7.8$13.7 million), Europe ($7.6$7.7 million), RestNorth of WorldAmerica ($6.0$7.3 million), and Latin America ($0.9$2.1 million), and

Non-GAAP Consolidated Income from Continuing Operations Attributable to Brink’s and Related Per Share Amounts Non-GAAP income from continuing operations attributable to Brink’s shareholders increased $4.1$11.5 million to $74.7$88.2 million due to the operating profit increase mentioned above, partially offset by lower interest and other nonoperating income ($6.1$6.9 million), the higher income tax expense ($4.3 million), and higher interest expense ($6.0 million), and the higher income tax expense ($1.6$2.0 million). Non-GAAP earnings per share from continuing operations was $1.80,$2.13, up from $1.62$1.81 in the firstsecond quarter of 2025.

Analysis of SegmentConsolidated Results: First QuarterHalf 2026 versus First QuarterHalf 2025

Revenues increaseincreased 5%2% ($22.0$10.2 million) primarilydriven duealmost toentirely a 5%by organic increase ($20.4 million).growth. Organic revenue increased primarily due to revenue growth in AMS and DRS, as well as BGS revenue.BGS. Operating profit increased 15%12% ($7.8$7.3 million) duedriven toentirely a 15%by organic increase ($7.8 million).growth. The organic increase was primarily driven by higher revenue, the net impact of revenue mix, and cost productivity.

Revenues increased 12%10% ($36.2$32.2 million) due to the favorable impact of currency exchange rates ($24.3$24.8 million) primarily from the Mexican peso and the Brazilian real and a 4%2% organic increase ($11.4$6.9 million). The organic increase was primarily driven by price increases across the segment,segment as well as growth in AMS and DRS revenue. Operating profit increased 6%10% ($3.5$5.5 million) primarily due to the favorable impact of currency exchange rates ($2.8$3.6 million) and a 2%4% organic increase ($0.9$2.1 million). The organic increase was primarily driven by higher revenue, AMS and DRS revenue mix, and cost productivity.

Revenues increased 15%5% ($46.9$19.0 million) primarily due to favorable impact of currency exchange rates ($35.1$11.1 million), and a 3%2% organic increase ($10.7 million), and the favorable impact of acquisitions ($1.1$7.9 million). Organic revenue increased primarily due the growth of AMS and DRS revenue. Operating profit increased 42%21% ($11.8$9.1 million) primarily due to a 27%18% organic increase ($7.6$7.7 million) and the favorable impact of currency exchange rates ($3.7$1.4 million). The organic increase was driven by the mix benefit of higher AMS and DRS revenue.revenue and cost productivity initiatives.

Revenues increased 12%16% ($23.3$30.4 million) due to a 7%15% organic increase ($13.2$28.8 million) and the favorable impact of currency exchange rates ($10.1$1.6 million). Organic growth in the segment was primarily due to growth in BGS revenuerevenue, AMS and DRS revenue, and pricing discipline across the segment.discipline. Operating profit increased 17%36% ($7.8$13.7 million) primarily due to a 13%36% organic increase ($6.0 million) and the favorable impact of currency exchange rates ($1.8$13.7 million). The organic increase was primarily driven by a favorable BGS mix and higher revenue.