Slide 1: First Quarter 2026 Earnings
First Quarter 2026 Earnings May 6, 2026 Exhibit 99.2
Slide 2: Forward-Looking Statements and Non-GAAP Results
2 Forward-Looking Statements and Non-GAAP Results These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target,” "project," "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-lo
Slide 3: First Quarter Performance Highlights
3 First Quarter Performance Highlights Strong organic revenue growth led by AMS/DRS 4.5% Total organic growth 15% AMS / DRS organic growth Good margin performance on favorable revenue mix & productivity 17.3% Adjusted EBITDA margin 10bps of YoY expansion 12.2% Operating profit margin 10 bps of YoY e
Slide 4: Consistent Value Creation Strategy
4 Consistent Value Creation Strategy Grow Organically 01 Expand Profit Margins 02 Improve FCF Conversion 03 Maximize Shareholder Value 04 Mid-to-high teens AMS/DRS driving mid- single digit total growth FCF conversion target between 40-45% Combined net leverage1 below 3x by end of 2027, ~$1B of free
Slide 5: AMS/DRS Continues Strong Performance
5 $359 $530 $743 $1,012 $1,212 $1,462 10% 13% 16% 21% 24% 28% 31.6% 2020 2021 2022 2023 2024 2025 2026 Target AMS/DRS Cash & Valuables Mgmt AMS/DRS Percent of Total AMS/DRS Continues Strong Performance • Continued underlying organic revenue growth • Strong precious metal shipping trends throughout Q
Slide 6: Partnering to Unlock Cash Management Opportunities with Digital Retail Solutions
6 Increased labor productivity Paradies Improves Cash Management with Digital Retail Solutions + 700 Locations A premier North American airport retailer and restauranteur + 90 Different Airports Full DRS Solution Reduced shrink and theft Decreased cash handling time Scalable solution to fuel retail
Slide 7: Margin Expansion Progress in North America Continues to Build
7 $129 $168 $154 $217 $228 $259 $276 $332 $343 11.7% 12.3% 12.2% 15.4% 14.4% 16.2% 16.8% 19.0% 19.5% 2018 2019 2020 2021 2022 2023 2024 2025 2026 1Q TTM Pandemic Margin Expansion Progress in North America Continues to Build North America Adj. EBITDA and Adj. EBITDA Margins Adjusted EBITDA Margins Co
Slide 8: NCR Atleos Acquisition Update
8 3.4x 3.1x 1Q 2027E Unsynergized Synergized <3.0x 2027E NCR Atleos Acquisition Update Deal remains on track for completion by the end of Q1 2027 2.3x 2026E 2.7x 2025 1. Net Debt divided by Adjusted EBITDA. 2. Shown for illustrative purposes only. There can be no assurances as to when or if any such
Slide 9: Q1 Financial Results
Q1 Financial Results
Slide 10: First-Quarter 2026 Results
10 First-Quarter 2026 Results (non-GAAP, $ millions, except EPS) Notes: See detailed reconciliations of non-GAAP to GAAP results included in the First Quarter 2026 Earnings Release available in the Results section of the Brink’s website www.brinks.com. See detailed reconciliations of non-GAAP to GAA
Slide 11: First-Quarter 2026 Revenue and Adjusted EBITDA vs 2025
11 First-Quarter 2026 Revenue and Adjusted EBITDA vs 2025 (non-GAAP, $ millions) Revenue $1,247 $8 $48 $2 $1,304 $71 $1,375 2025 Revenue Organic Cash & Valuables Mgmt. Organic DRS & AMS Acq / Disp* 2026 Constant Currency Revenue FX 2026 Revenue Notes: Amounts may not add due to rounding. See detaile
Slide 12: First-Quarter 2026 Adjusted EBITDA vs 2025
12 $168 ( $64 ) ( $29 ) ( $1 ) $75 $64 $64 $29 $6 $238 Op Profit Interest Expense Taxes Interest Income & Other Income from Continuing Ops D&A Interest Expense Taxes Stock Comp & Other Adj. EBITDA First-Quarter 2026 Adjusted EBITDA vs 2025 (non-GAAP, $ millions) 17.3% Margin 12.2% Margin Notes: Amou
Slide 13: 2026 Capital Allocation Framework
13 2026 Capital Allocation Framework Notes: See detailed reconciliations of non-GAAP to GAAP results in the Appendix and included in the First Quarter 2026 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. Capital allocation priorities not shown in pr
Slide 14: Full Year 2026 Framework and First Quarter 2026 Guidance
14 Full Year 2026 Framework and First Quarter 2026 Guidance (non-GAAP, $ millions, except EPS) The 2026 Non-GAAP outlook amounts cannot be reconciled to GAAP without unreasonable effort, as we are unable to accurately forecast certain amounts that are necessary for reconciliation, including the impa
Slide 15: Appendix
Appendix
Slide 16: First-Quarter 2026 Revenue & Adjusted EBITDA by Segment vs 2025
16 First-Quarter 2026 Revenue & Adjusted EBITDA by Segment vs 2025 ($ millions) Notes: See detailed reconciliation of non-GAAP to GAAP Segment Adjusted EBITDA results in the Appendix. Constant currency represents 2026 results at 2024 exchange rates. $418 $440 2025 2026 $73 $84 2025 2026 17.4% Margin
Slide 17: First-Quarter 2026 Revenue & Operating Profit by Segment vs 2025
17 First-Quarter 2026 Revenue & Operating Profit by Segment vs 2025 ($ millions) Note: Constant currency represents 2026 results at 2024 exchange rates. $418 $440 2025 2026 $53 $61 2025 2026 12.7% Margin 13.9% Margin $308 $344 2025 2026 $54 $57 2025 2026 17.5% Margin 16.7% Margin $203 $226 2025 2026
Slide 18: Net Debt and Net Leverage
18 Net Debt and Net Leverage Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix and included in the First Quarter 2026 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. Amounts may not add due to rounding 1. Net of unamorti
Slide 19: 2024 Non-GAAP Results Reconciled to GAAP
19 2024 Non-GAAP Results Reconciled to GAAP The Brink’s Company and subsidiaries (In millions, except for per share amounts) Amounts may not add due to rounding. a. See “Other Items Not Allocated To Segments” on slides 21-25 for details. b. See "Reconciliations of Non-GAAP to GAAP Measures" on slide
Slide 20: Non-GAAP Results Reconciled to GAAP (2018-2024 Adj EBITDA)
20 Non-GAAP Results Reconciled to GAAP (2018-2024 Adj EBITDA) The Brink’s Company and subsidiaries (In millions, except for per share amounts) Non-GAAP results should not be considered as an alternative to results determined in accordance with GAAP and should be read in conjunction with their GAAP c
Slide 21: Other Items Not Allocated to Segments
21 Other Items Not Allocated to Segments (Unaudited) The Brink’s Company and subsidiaries (In millions) Brink’s measures its segment results before income and expenses for corporate activities and for certain other items. See below for a summary of the other items not allocated to segments. Reorgani
Slide 22: Other Items Not Allocated to Segments
22 Other Items Not Allocated to Segments (Unaudited) The Brink’s Company and subsidiaries (In millions) 2024 Acquisitions and Dispositions • Amortization expense for acquisition-related intangible assets was $58.3 million in 2024. • Net charges of $2.4 million were incurred for post-acquisition adju
Slide 23: Other Items Not Allocated to Segments
23 Other Items Not Allocated to Segments (Unaudited) The Brink’s Company and subsidiaries (In millions) 2021 Acquisitions and Dispositions • Amortization expense for acquisition-related intangible assets was $47.7 million in 2021. • We incurred $10.5 million in integration costs, primarily related t
Slide 24: Other Items Not Allocated to Segments
24 Other Items Not Allocated to Segments (Unaudited) The Brink’s Company and subsidiaries (In millions) 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-denominat
Slide 25: Other Items Not Allocated to Segments
25 Other Items Not Allocated to Segments (Unaudited) The Brink’s Company and subsidiaries (In millions) Internal loss We recorded charges and gains associated with the impact of actions by a former non-management employee in our U.S. global services operations. The former employee embezzled funds fr
Slide 26: Non-GAAP Measures and Reconciliations to GAAP Measures
26 Non-GAAP Measures and Reconciliations to GAAP Measures Non-GAAP measures described below and included in this filing are financial measures that are not required by or presented in accordance with GAAP. The purpose of the disclosure of these non-GAAP measures is to report financial information fr
Slide 27: Non-GAAP Measures and Reconciliations to GAAP Measures
27 Non-GAAP Measures and Reconciliations to GAAP Measures In addition to the rationale described above, we believe the following non-GAAP metrics are helpful in assessing cash flow and financial leverage consistent with how our management evaluates performance: Free Cash Flow before Dividends: This
Slide 28: 2018-2020 Non-GAAP Reconciliation – Segment Adjusted EBITDA
28 2018-2020 Non-GAAP Reconciliation – Segment Adjusted EBITDA The Brink’s Company and subsidiaries (In millions) 202020192018Segment Adjusted EBITDA: Full YearFull YearFull Year Segment Adjusted EBITDA Add back: Depreciation and amortization GAAP amounts Segment Adjusted EBITDA Add back: Depreciati
Slide 29: 2018-2022 Non-GAAP Reconciliation – Segment Adjusted EBITDA
29 2018-2022 Non-GAAP Reconciliation – Segment Adjusted EBITDA The Brink’s Company and subsidiaries (In millions) 202320222021Segment Adjusted EBITDA: Full YearFull YearFull Year Segment Adjusted EBITDA Add back: Depreciati on and amortizati on GAAP amounts Segment Adjusted EBITDA Add back: Deprecia
Slide 30: 2018-2022 Adjusted EBITDA Reconciliation
30 2018-2022 Adjusted EBITDA Reconciliation The Brink’s Company and subsidiaries (In millions) (a) See detailed reconciliations of the 2018 to 2023 Segment Adjusted EBITDA on slides 28-29. (b) See detailed reconciliations of non-GAAP to GAAP results on slide 31. (c) Due to reorganization and restruc
Slide 31: 2018-2022 Non-GAAP Results Reconciled to GAAP
31 2018-2022 Non-GAAP Results Reconciled to GAAP The Brink’s Company and subsidiaries (In millions) (a) See “Other Items Not Allocated To Segments” details for the full years ended 2018-2023 on slides 21-25 for details. (b) See "Reconciliations of Non-GAAP to GAAP Measures" on slides 26-27 for detai
Slide 32: 2023-Q1 2026 Non-GAAP Reconciliation – Segment Adjusted EBITDA
32 2023-Q1 2026 Non-GAAP Reconciliation – Segment Adjusted EBITDA The Brink’s Company and subsidiaries (In millions) 202620252024Segment Adjusted EBITDA: Q1Full YearQ1Full Year Segment Adjusted EBITDA Add back: Depreciation and amortization GAAP amounts Segment Adjusted EBITDA Add back: Depreciation
Slide 33: 2023-Q1 2026 Adjusted EBITDA Reconciliation
33 2023-Q1 2026 Adjusted EBITDA Reconciliation The Brink’s Company and subsidiaries (In millions) (a) See detailed reconciliations of the First Quarter 2026, the First Quarter 2025, the full year 2025, and the full year 2024 Segment Adjusted EBITDA on slide 32. (b) See detailed reconciliations of no
Slide 34: 2023-Q1 2026 Non-GAAP Results Reconciled to GAAP
34 2023-Q1 2026 Non-GAAP Results Reconciled to GAAP The Brink’s Company and subsidiaries (In millions) (a) See “Other Items Not Allocated To Segments” details for the full year ended 2024 on slides 21-25 for details. See “Other Items Not Allocated To Segments” details included in the First Quarter 2
Slide 35: 2023-2024 Non-GAAP Reconciliation – Cash Flows
35 2023-2024 Non-GAAP Reconciliation – Cash Flows The Brink’s Company and subsidiaries (In millions) (a) Free cash flow before dividends is a supplemental financial measure that is not required by, or presented in accordance with, GAAP. See slides 26-27 for further information and descriptions of th
Slide 36: 2024-2026 Non-GAAP Reconciliation – Net Debt
36 2024-2026 Non-GAAP Reconciliation – Net Debt The Brink’s Company and subsidiaries (In millions) a) Net Debt is a supplemental non-GAAP financial measure that is not required by or presented in accordance with GAAP. See slides 26-27 for further information and descriptions of the adjustments. Incl