Why Brink's Stock Jumped as much as 36% on July 29
Shares of armored-car and cash management company Brink's Company (NYSE: BCO) rose by more than a third on July 29, hitting a gain of 36% at one point in early trading. Although the stock lost a material amount of that gain as the day progressed, it was still up by roughly 20% at 2:30 p.m. EDT.
The big story was the company's second-quarter earnings release, which was, taken in isolation, not particularly good reading. With the impact of COVID-19 creating material headwinds globally, Brink's saw revenue fall by 10% year over year in the quarter. Organic revenue, which removed one-time items like acquisitions and divestitures, dropped even more, off by 17%. Adjusted earnings were $0.67 per share in the quarter versus $0.86 in the same quarter of 2019.
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Source Fool.com
