Good afternoon, and welcome to the Brink's First Quarter 2025 Earnings Presentation. Please note, this event is being recorded. This call and the Q&A session will contain forward-looking statements. Actual results could differ materially from projected or estimated results. Information regarding factors that could cause such differences are available in the footnotes of today's press release and in the company's most recent SEC filings. The information presented and discussed on this call is representative of today only. Brink's assumes no obligation to update any forward-looking statements. The call is copyrighted and may not be used without written permission from Brink's. I will now turn it over to your host, Jesse Jenkins, Vice President of Investor Relations. Mr. Jenkins, you may begin.

Thanks, and good afternoon. Here with me today are CEO, Mark Eubanks, and CFO, Kurt McMaken. This afternoon, Brink's reported first quarter 2025 results on a GAAP, non-GAAP, and constant currency basis. Most of our comments today will be focused on our non-GAAP results. These non-GAAP financial measures are intended to provide investors with a supplemental comparison of our operating results and trends for the periods presented. Our management believes these metrics are useful to investors as they allow investors to evaluate performance using the same metrics as management. Reconciliation of non-GAAP results to their most comparable GAAP results are provided in the press release, the appendix of the presentation, and in this afternoon's 8-K filing, all of which can be found on our website. I will now turn the call over to Brink's CEO, Mark Eubanks.

Thanks, Jesse, and good afternoon, and thank you all for joining us. Starting with Slide 3. Brink delivered total organic growth of 6% in the first quarter at the top end of our previous guidance. ATM Managed Services and Digital Retail Solutions, or AMS, DRS grew over 20% for the fourth consecutive quarter as we continue to build upon solid momentum in these higher-margin recurring revenue businesses. We delivered solid year-over-year growth in our Global Services business, which particularly benefited our Rest of World segment. Record Q1 operating profits were up 40 basis points in the quarter, with good productivity and favorable revenue mix from AMS, DRS and Global Services. Adjusted EBITDA was $215 million with a margin of 17.2%. Earnings per share of $1.62 reflects the benefits of share repurchases as well as the planned increase in a year-over-year tax rate as we lap one-time benefits from our prior year. Adjusted EBITDA and EPS exceeded the high end of our Q1 guidance due to strong execution and the timing impact of some expenses that we shifted into Q2. On a trailing 12-month basis, free cash flow and conversion of 40% came in as expected, highlighted by continued progress on AR collections and customer payment terms. Strategically, we continue to focus on maximizing growth potential in AMS, DRS, expanding our margins and executing our focused capital allocation framework. AMS and DRS continued to gain momentum throughout the organization with solid growth across all segments. Now representing a quarter of our business, these recurring revenue offerings support performance consistency, margin expansion and improved free cash flow, which is derived from improved working capital dynamics and lower CapEx intensity. I'll have much more on AMS, DRS in a few slides. In our CVM business, growth was highlighted by strong performance in our Global Services business. As I'm sure you've seen in the news, precious metal movement was elevated during the quarter which led to improved year-over-year growth. Our long-term customer relationships, our global network and our industry-leading capabilities position us well to continue to capture elevated demand that may arise going forward. We also continue to diligently execute against our capital allocation framework. Year-to-date, we repurchased 1.3 million shares at an average price of $87.62 per share representing about 3% of the outstanding shares at year-end 2024. Additionally, just last week, we announced the third consecutive annual increase to our quarterly dividend as we continue to focus our capital allocation on shareholder returns. With remaining repurchase capacity of over $180 million under our existing authorization, we are on track to meet or exceed our prior year share repurchase levels. Overall, it was a solid first quarter. We delivered solid organic growth in our key business lines, expanded operating profit margins, and we opportunistically increased the return of capital to shareholders. Supported by our strong Q1, we are affirming our full year framework of mid-single-digit organic growth, 30 to 50 basis points of EBITDA margin expansion, and free cash flow conversion between 40% and 45%. As we look to the second quarter, we see similar mid-single-digit organic growth rates. EBITDA is expected to be between $205 million and $225 million, with earnings per share between $1.25 and $1.65 per share. Q2 top line guidance reflects our expectations for continued momentum in AMS, DRS, current FX rates, and stable economic conditions. The second quarter guidance aligns to our first half expectations, including the timing impact of some restructured expenses shifting out of Q1 into the second quarter. Turning to Slide 4, you can see our performance against prior years. Constant currency and organic revenue growth were 6% with total revenue growth of 1%. Adjusted EBITDA was down $3 million, with a $6 million increase in operating profit in spite of higher restructuring cost versus the prior year and less interest income from Argentina as inflation continues to moderate in the country. Earnings per share was up 13% on a constant currency basis and down $0.03 per share year-over-year. Our outstanding average share count was down 4% with an expected increase in tax rate, which reduced EPS by $0.11. Free cash flow performance was as expected in the quarter. In total, free cash flow was down $14 million on a trailing 12-month basis and reflects the payment of a previously disclosed Department of Justice and FinCEN resolution. Excluding this item, free cash flow would have been up $4 million year-over-year, with conversion from EBITDA of 42%. On Slide 5, you can see the performance by segment. Starting with North America, on the left, constant currency growth of 4% and organic growth of 2% was consistent with the prior year. With several new customer onboarding this quarter, DRS growth continues to be a highlight in North America. CBM revenue was up organically year-on-year, primarily due to a slightly elevated global services volume. Record EBITDA margins included revenue mix benefits, good pricing discipline and continued productivity as we streamline routing, labor management and SG&A. With stable staffing and service levels and second half routing improvements that remain on track, we are well positioned to continue to deliver growth and margin improvement over the balance of the year. In Latin America, 7% organic growth was more than offset by year-over-year currency devaluation, primarily in Mexico and Argentina. Normalizing for the impact of Argentina inflation moderation, Latin America organic growth rates were stable sequentially. AMS and DRS mix increased to 18% of total revenue behind another strong quarter of growth in all countries. On the margin side, as you'll remember from last quarter, we expected to take some restructuring actions in the segment to streamline operations behind a growing AMS/DRS mix. While we executed a portion of that restructuring in Q1, we had some actions that will push into the second quarter. Our restructuring actions position us well to protect margins and realize the benefits of AMS, DRS revenue model as we move forward in any economic scenario. Europe grew revenue by 5% organically in the first quarter, while AMS/DRS mix increased by 2% sequentially to 42% of total revenue. We are making good progress converting and adding customers to DRS in Europe, including the rollout of cash-accepting self-checkout devices in grocery and convenience stores. Europe remains a strong AMS market due to the consolidated nature of the banking footprint and we continue to add new partners to our managed services network. We're making strong progress integrating the previously announced Sainsbury's ATM estate into our U.K. business, and we remain on track for full deployment by the middle of the year. EBITDA was flat on a year-over-year basis as we continue to take restructuring actions to optimize our operations and realize the benefits of accelerating AMS and DRS growth. Normalized for these actions, margins would have been up 40 basis points year-over-year. In the Rest of World segment, organic growth accelerated to 9% this quarter, primarily driven by the increased movement of precious metals that I mentioned earlier. Record first quarter EBITDA margins were up 130 basis points due to growth and mix benefits of the higher global services revenue. Turning to Slide 6, we have more detail by customer offering. Cash and valuables management grew 1% organically and accelerated sequentially when netting the impact of Argentina currency. As I mentioned earlier, Global Services was up sequentially and year-over-year with additional volume from gold and silver shipments seen primarily in the Rest of World segment. Shipments continued to grow throughout the quarter before peaking in March. Early in the second quarter, movement moderated, but remains ahead of prior year. As we mentioned last quarter, dynamics in our Global Services business shift quickly and our ability to leverage existing infrastructure and customer relationships remain the keys to our success in this line of business. Given the slowing growth in early Q2, we remained cautious in our outlook on this business line for both the second quarter and the rest of the year, but remain, as always, well positioned to capitalize on any opportunities as they occur. In our more traditional cash and transit and money processing business, we are pleased to announce a new partnership with a leading financial institution in North America. After a competitive process, we were awarded full cash in transit, money processing, and cash vaulting services across both the U.S. and Canada. We plan to onboard this new business over the coming months while ensuring a smooth transition and maintaining our high customer service levels. Importantly, as with any new CVM business, we will look to expand relationships with new retail customers and additional ATM estates as we use these as entry points into AMS and DRS moving forward. In DRS, we delivered another strong quarter of growth in all markets. Momentum continues as we win new accounts and convert existing customers. In North America, we delivered our best quarter of DRS growth since 2022 with new installations in the quarter from a leading auto part store and additional momentum in the restaurant and QSR space. In Latin America, Mexico had a good month of installations as well with ads in the wholesale and C-store markets. Conversions from traditional CIT to DRS accelerated in both North America and especially Europe, driving improved revenue mix and record first quarter EBITDA margins in North America. Looking ahead, we expect to see an impact on growth rates in the second quarter as we lap the previously mentioned equipment sales from last year. We feel good about the rest of the year in DRS as we work from an increased base of business, install a larger backlog and work to close a strong pipeline of opportunities. On the AMS side, we continue our efforts on onboarding large customers that we discussed in previous quarters in both Europe and North America. As I mentioned earlier, Sainsbury's onboarding remains well on track. In the U.S., we're making good progress deploying services into gas stations and convenience store customers that we won in previous quarters. As discussed previously, due to the size of AMS deals, growth in this line of business is not expected to be as linear as DRS has been. With deployments on track, we expect AMS growth to begin to accelerate into the second half of 2025. We continue to make progress building both the quality and size of our pipeline, leading to improving win rates in this offering. Now let's turn to Slide 7. Before I hand it off to Kurt, to talk to the specifics of the quarter and our guidance, I thought it would be helpful to frame how the current market dynamics may impact us at Brink's. While we've yet to experience any significant disruption in our business, uncertainty has increased in many of the economies where we serve, including the U.S. On the left side of the slide, you can see our organic growth rates over the last 18 years. As you can see, we have a history of performing well across many market conditions and business cycles. Our growth rates have been consistently in the mid-single-digit range outside of the pandemic when retail establishments were completely shut down and the great financial crisis in 2009. With a much larger base of business now in AMS, DRS and a more diversified global footprint, we expect to be even more resilient going forward. Our customer diversity in retail and financial institutions help mitigate challenges in any one sector, and we're closely monitoring any potential increase in bankruptcies or store closures in the markets we serve. With a geographic footprint that serves customers in over 100 countries and a global services business that has historically performed well in downturns, we are well positioned and adequately diversified if economic conditions deteriorate. As a service-based business, we expect to be mostly insulated from direct tariff exposure. More than half of our costs are labor, including fleet and shipping expenses; most of our costs are variable, allowing us to protect our margins if volumes slow in the future. With the base of locally managed operations in 51 countries, materials and labor are primarily sourced by our local teams in local currency, and we have a long history of managing inflationary pressures with price discipline and productivity. We have a pipeline of productivity initiatives working through the Brink's business system that will continue to support margins. And as we continue to shift our business to AMS and DRS, we are increasing network density and improving routing flexibility, providing more certainty on our profit margin expansion plans over the balance of the year and for years to come. Overall, I'm pleased with the first quarter and the outlook for the rest of the year. Our business remains stable and well positioned to execute our strategy. A growing base of AMS and DRS, line of sight to productivity initiatives in the second half and a first quarter above expectations provide a strong foundation to continue our organic growth and margin expansion journey for the rest of the year. And now I'd like to turn it over to Kurt to discuss the details of the quarter and more specifics on our outlook.

Thanks, Mark, and good afternoon, everyone. Starting on Slide 8. Organic revenue grew $69 million with 80% of that growth coming from higher-margin AMS and DRS services. $13 million of CVM growth included the impact of AMS and DRS customer conversions. Currency headwinds amounted to $66 million or 5% in the period, primarily from the Mexican peso, Argentina peso, and the Brazilian real. The organic revenue mix benefits flow through generating 30% incremental operating profit, while organic adjusted EBITDA grew $14 million or 6%. The total adjusted EBITDA margins were down 50 basis points from the prior year, negatively impacted by the regional revenue mix of FX as well as less Argentina interest income. On Slide 9, starting on the left, operating profit was up 4% to $151 million with a margin of 12.1% on strong productivity and line of business revenue mix. Interest expense was up $2 million year-over-year to $58 million. We are still expecting interest expense to be roughly flat to the prior year. Tax expenses were $28 million in the quarter, representing an effective tax rate of 27.8%, an increase from the 23.2% we saw in the prior year. As a reminder, this tax rate increase is primarily related to the lapping impact of inflation adjustments in Argentina on the prior year that is not expected to repeat in 2025. Interest income was $11 million in the quarter, down $5 million year-over-year. With inflation rates moderating in Argentina, we expect 2025 interest income to continue to decelerate as we move through the rest of the year. Income from continuing operations was $70 million. Walking back up to adjusted EBITDA, depreciation and amortization was $54 million. We still expect total D&A to rise modestly in 2025, primarily reflecting increased depreciation from AMS and DRS equipment. In the stock comp and other category, stock-based compensation was down $4 million year-over-year in Q1. And for the full year, we expect stock comp to decrease slightly to between $30 million and $35 million. Moving to Slide 10. We continue to diligently execute our unchanged capital allocation framework. As always, we strive to allocate capital, prioritizing long-term shareholder value. Our framework is designed to compound free cash flow in future years by investing first in organic growth and margin-enhancing opportunities in the business. We are targeting CapEx as a percentage of revenue around 3.5% and plan to continue to drive capital efficiency as we shift our mix to AMS and DRS. In the first quarter, our leverage increased to 3.06x, just over our target range as we accelerated share repurchases into the early part of the year to opportunistically take advantage of attractive pricing. We remain on target to be within our leverage range by year-end. Our primary use of capital over the last few years has been share repurchases, and we continued the trend in the first quarter. Through May 9th, we have repurchased over 1.3 million shares, a full 3% of the outstanding share count at year-end. In total, we have spent over $110 million year-to-date and have approximately $180 million in available capacity remaining in our current authorization. With respect to dividends, just last week, our Board authorized the third consecutive annual increase to our quarterly dividend. We plan to follow a similar consistent dividend policy going forward. And finally, on M&A, our posture on deals is consistent. We have a full pipeline and continue to explore accretive opportunities that have a strong strategic fit, attractive returns, and align with our current leverage targets and broader capital allocation framework. Moving to the guidance on Slide 11. With the strong first quarter behind us, our full year framework for 2025 remains unchanged. We expect mid-single-digit organic growth to include mid- to high-teens organic growth in AMS, DRS. Over the last quarter, FX rates have moved in our favor. Using today's rates, we would expect about a 2.5% or $125 million FX improvement to our initial full year estimate. This $125 million in FX improvement was primarily due to the euro and pound shifting our geographic mix of revenue more towards our Europe segment. So despite the good EBITDA performance we saw in the first quarter, we are maintaining our margin expansion target of 30 to 50 basis points for the full year. There has been no change to our expectations for free cash flow conversion. And as I mentioned on the last slide, we opportunistically pulled forward share repurchases into the early part of the year. And for the full year, we remain on track with shareholder returns that meet or exceed 2024 levels. In the second quarter, we expect revenue between $1.25 billion and $1.3 billion, reflecting organic growth in the mid-single digits. Using today's rates, FX is expected to be a headwind of around 3% to 3.5% as we lap last year's Q2 steep devaluation of the Mexican peso before moderating in Q3. The organic revenue guidance assumes strong continued growth in AMS, DRS and current trends in the Global Services business. Adjusted EBITDA is expected to be between $205 million and $225 million. This adjusted EBITDA guidance reflects the flow-through of revenue growth, the timing impact of restructuring actions that shifted from Q1 to Q2, the impact of currency mix on margins, and lower interest income. EPS is expected to be between $1.25 and $1.65. And now I'll hand it back to Mark for closing comments before we start Q&A.

Thanks, Kurt. 2025 is off to a solid start. In Q1, we delivered the fourth consecutive quarter of over 20% organic growth in our key verticals of AMS and DRS. Supported by a strong pipeline and the onboarding of several new customer accounts in the second half, I am encouraged by our momentum. In CVM, we remained well-positioned to generate growth with a major new North America banking partnership coming in the second half, and our Global Services business remains poised to capture the available growth opportunities. EBITDA margins are expected to expand in the back half of the year behind the strong growth and our ongoing productivity efforts. Supported by our historical performance, our differentiated business model is built for success in the uncertain macroeconomic environment ahead of us. I am confident we are sustainably improving the business, building a business that will deliver a more consistent growth, margin improvement, and free cash flow generation profile for years to come. And with that, we're happy to take your questions. Operator, please open the line.

The first question comes from George Tong with Goldman Sachs.

Can you talk a little bit more about your tariff exposure, specifically how much of your hardware is imported, measured as either a percentage of revenue or percentage of cost, what your country exposures are and what average effective tariff rate across your country exposures is assumed in your guidance?

Thank you for the question, George. To start, we mentioned this in our prepared remarks, but we really don't anticipate any direct exposure from tariffs. Most of our costs and revenues are in the same currency, and we don't import or export much of our services. Our Global Services business is a bit different, which is why you may have noticed some activity in Q1 related to concerns about precious metals. This led to increased shipments globally, particularly bringing precious metals to the U.S., which resulted in higher revenue in our Rest of World segment. Fortunately, these commodities were eventually exempted from tariffs. As of now, we don't see any impacts. Regarding our trucks, parts, and so on, most of those are sourced locally or within trade unions, so we are not significantly affected. The main concern we might face, like any business, would be a slowdown in global growth or any cost of living increases or inflation locally. In those cases, we strive to manage costs through productivity while maintaining a disciplined pricing strategy as we engage with the market.

Got it. That's helpful context. And then switching gears, looking at your Latin America business, organic growth was 7% in the quarter, but the FX drag was negative 16%. In past quarters, your organic growth was able to match your FX trends. So can you talk about pricing trends you're seeing in the region and if you're able to pricing to fully offset currency devaluations or FX headwinds going forward?

Yes, that's a great question, George. There are two parts to it. First, regarding pricing in a highly inflationary market like Argentina, where the currency is rapidly devaluing, we are maintaining our pricing strategy in response to hyperinflation in the local market. Overall, within the Latin America region, the most significant impact from foreign exchange comes from the Mexican peso, mainly due to last year's devaluation at the end of June. We expect to continue facing foreign exchange challenges from Mexico and Brazil, particularly in the first half of the year as a result of that significant devaluation. We anticipate this will ease in the latter half of the year. The growth in the second quarter should be comparable to the first quarter, and we are satisfied with our current position. In fact, the quarter performed about as we anticipated.

Our next question comes from Timothy Mulrooney with William Blair.

I have a few questions. First, regarding your second quarter margin guidance, you're projecting around 16.9%, which is a decline compared to the same quarter last year, down by more than 100 basis points. Can you explain the factors contributing to this? Additionally, margins are down year-over-year in the first half, yet your full year guidance suggests an anticipated expansion of 30 to 50 basis points. Can you clarify how you plan to reconcile the differences between the margins in the first half and those expected in the second half?

Yes, Tim, it's Kurt. Let me walk you through this. First, regarding the first half, some key drivers will be related to two main factors. The first is foreign exchange, especially the impact of the Mexican peso on our margins. The second factor is the decline in interest income from Argentina, which has a significant year-over-year effect. These two factors are major drivers of our margins. Additionally, there’s increased restructuring this year compared to last year in the first half. So, those are your three main points to consider for the first half and even the second quarter. Looking to the second half, we anticipate some foreign exchange impacts as well. With the Mexican peso starting to roll off, the FX effects in this period will be much less pronounced. We also experience normal seasonality, leading to a ramp-up in the second half. When you examine our organic growth in this period, it remains consistent with the first half, but due to the moderation in FX, the overall growth appears significantly higher. The flow-through from this is aligned with our expectations.

In fact, Tim, FX, if you just run the math out, almost a tailwind in Q4 just given the year-on-year of where the Mexican peso is today and where it was in Q4.

The only other reminder too, in the third quarter, we had a pretty significant security loss event last year, and so we're lapping that in the third quarter. So there's a pretty big expansion in the third quarter in terms of margins because of that.

Okay. That was very comprehensive. So FX, the restructuring, the interest income and the lapping of that security loss. On the interest income, I know that less interest income from Argentina negatively impacted margins in the first quarter, how much of a headwind do you expect us to be to EBITDA for the full year?

So it's meaningful. You might think of it as $4 million to $5 million a quarter.

Okay. That's helpful.

The reason is that it obviously depends a lot on what happens in the country, but that's kind of our current thinking on it.

Got it. Yes, I know this is a very dynamic situation, especially lately.

By the way, that's what's in our outlook in our guide for the quarter, Tim.

Yes. Got it. Okay. Maybe we can shift to growth here really quick. I know you're expecting 3% to 6% organic growth in the second quarter, what would that be excluding the equipment sales from last year?

For DRS, AMS, is that what you're asking excluding equipment sales?

Yes.

Yes. Last year, we had $8 million in DRS equipment sales, which was a one-time occurrence. We experienced over 20% growth in Q1 compared to that quarter. In Q2, we anticipate a slight organic growth headwind, potentially a couple of points. However, we expect to maintain a similar dollar trajectory and do not foresee results deviating from our guidance or recent initiatives. I just want to clarify something. In my earlier comments, I discussed the differences in growth characteristics between AMS and DRS. DRS typically experiences smaller, more gradual, and consistent growth, while AMS can show more variability with larger contracts. This past quarter was strong for us, not only in revenue but also in new awards. We secured two significant ATM outsourcing agreements in Southeast Asia, one in the Philippines and one in Indonesia, which will contribute in the second half and into early Q1 next year. We are currently onboarding Sainsbury's, which is a considerable effort expected to support organic growth in the latter half of the year alongside several other large convenience store chains in North America. We are making good progress, with our pipeline growing not only in quantity but also in quality, with a higher close rate and quicker deal timelines. For DRS, our worldwide device count was up 5% compared to the end of December, reflecting significant deployment improvements. In March, we installed a record number of devices in our history and saw strong momentum in April. The DRS portfolio demonstrates good penetration in Europe and accelerating growth in North America. We are also beginning to see growth pickup in Latin America, particularly in Mexico, Brazil, and Chile. Additionally, in Indonesia, AMS is performing well with DRS, and we have signed a positive agreement with a smaller business in the UAE. We are seeing promising trends, particularly with conversions and opportunities with unvended customers in emerging economies.

That's really good color, Mark. I mean, my last question was going to be if you could remind us why you'd expect your AMS, DRS business to be more resilient to macro softness maybe relative to the traditional CIT business. But I think maybe you just answered, it is the answer just that the penetration opportunity is so significant? Is it just that the growth opportunity in the white space is so significant that you see growth there regardless? Or is there something inherent about the DRS, AMS business model that lends itself to less cyclicality.

Yes, I would highlight two points. First, the potential in the market is significantly larger. Even if that potential were to decrease by 50%, we would still have a vast market to pursue. This is certainly a key factor. However, it isn't all straightforward, as we need to establish new marketing channels, which we are currently working on. This effort is helping us grow, even amidst economic challenges. The second point relates to our traditional CIT business, where the revenues depend more on activity and volume. This makes them much less predictable from month to month and quarter to quarter. In contrast, the DRS and AMS agreements are primarily subscription-based, leading to longer-term, more stable revenues that are not as affected by fluctuations in transaction volumes or values.

Our next question comes from Tobey Sommer with Truist.

This is Tyler Barishaw on for Tobey. Markets were quite volatile post Q1. Can you maybe describe some of the trends in the BGS segment quarter-to-date?

Yes, what we experienced in Q1 was quite unique. The concerns regarding tariffs and the ability to import precious metals into North America caused significant market volatility, which also led to increased shipment volumes for us. This was evident in our Rest of World segment, which had an excellent quarter in fulfilling customer needs related to precious metals, especially in North America. However, we have not observed the same level of activity in April; in fact, throughout April the pace has slowed down and appears to be aligning more with the mid-single-digit organic growth we typically see in other regions. Our current guidance reflects this trend, and we feel positive about it.

Makes sense. AMS/DRS mix is quite wide across different segments. Can you just talk about some of the initiatives you can take to maybe raise that mix in Latin America and the rest of the world?

Yes, we are currently addressing that. In Latin America and other regions, we already have substantial operations in cash-heavy economies. Some of our earlier DRS solutions may not have fully suited these conditions. However, we have broadened our product offerings and invested in our product management team, collaborating with suppliers to create solutions that can handle larger cash transactions. These solutions have been well-received by some of our current customers. For new customers, we've had to adapt by being more flexible and reducing our service costs through smaller solutions and devices that target the market of smaller retailers, as opposed to the larger store formats typical of our traditional business. To support this, we have not only enhanced our sales teams' capabilities but also sought partnerships with banks, financial services companies, and retail POS payment providers to improve our access to these markets.

You can see in the growth rates, too, Tyler, I mean, both Rest of World and LatAm grew about 25% AMS, DRS in the quarter.

This concludes our question-and-answer session. I would like to turn the conference back over to Mark Eubanks for any closing remarks.

Yes. Thank you all for joining us this afternoon. We appreciate your continued interest in Brink's and look forward to speaking to you soon and maybe seeing you in person here on the road. Have a great night.

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.