Analyst for Stephanie Moore's questions to APi Group Corp (APG) leadership • Q4 2024
Question
An analyst on behalf of Stephanie Moore at Jefferies asked about M&A expectations for 2025, including target areas and deal size, and inquired about the drivers needed to reach the high end of the revenue guidance.
Answer
President and CEO Russ Becker stated the plan is to spend another ~$250 million on bolt-on M&A, focusing on fire & life safety, security, and elevator services, with an increasing consideration for international opportunities. He noted a measured approach for elevator deals and discipline on valuation for larger transactions. Interim CFO David Jackola and CEO Russ Becker explained that reaching the high end of revenue guidance would require project growth to accelerate beyond the low-to-mid-single-digit baseline, supplemented by continued pricing discipline.