What happened

Brink's (BCO -2.24%) delivered for investors in the fourth quarter, and provided an upbeat outlook for 2023 and beyond. Investors are backing up the armored truck as a result, sending shares of Brink's up as much as 12% on Wednesday.

So what

Brink's provides cash and valuables management, ATM services, and digital security including its famous armored cash delivery trucks. The company posted a solid beat on both earnings and revenue in the fourth quarter thanks to its ability to pass on higher costs to its customers.

Brink's reported fourth-quarter adjusted earnings of $2.10 per share on revenue of $1.19 billion, topping expectations for $1.68 per share in earnings on sales of $1.09 billion.

For the full year, organic revenue was up 12% and the company posted an operating profit margin of 12.1%, the highest in recent years.

"Operating profit growth included improved cost productivity, strong pricing discipline in an inflationary environment, growth in high-margin services and the early benefits of our late 2022 global restructuring efforts," CEO Mark Eubanks said in a statement. "Operating margin improvement was especially encouraging in North America, with the fourth quarter over 15% for the first time in the history of the segment."

Now what

Brink's expects to earn between $6.30 and $7 per share in 2023 on revenue of between $4.8 billion and $4.95 billion. That's within the range of analyst estimates for $6.53 per share in earnings and $4.92 billion in sales.

"Building from our strong foundation and 2022 operating momentum, we are excited about our growth and profitability potential in 2023 and beyond," Eubanks said. "We are focused on continuing to raise the bar on our customer experience while enhancing productivity in the business and driving additional growth through innovation in digital retail solutions and ATM managed services."

Brink's is perhaps best known for the armored trucks that have been part of the business since soon after its founding in 1859. But the company sees great potential, and high margins, in its newer digital services that it can offer to its existing bank customers.

The stock has been stuck in neutral over the past five years, losing to the market by more than 50 percentage points. But if Brink's can make good on its digital plans, it could hit the fast lane soon enough.