Earnings summaries and quarterly performance for APi Group.
Executive leadership at APi Group.
Board of directors at APi Group.
Research analysts who have asked questions during APi Group earnings calls.
JC
Joshua Chan
UBS Group AG
6 questions for APG
Also covers: ABM, ARMK, BFAM +16 more
KT
Kathryn Thompson
Thompson Research Group
6 questions for APG
Also covers: AMWD, AWI, CNM +13 more
JT
Jonathan Tanwanteng
CJS Securities
5 questions for APG
Also covers: ATRO, CMCO, CSWI +15 more
AJ
Andrew J. Wittmann
Robert W. Baird & Co.
4 questions for APG
Also covers: ABM, ACM, ARMK +17 more
Jasper Bibb
Truist Securities
4 questions for APG
Also covers: ABM, AMN, APEI +14 more
Stephanie Moore
Jefferies
4 questions for APG
Also covers: ARCB, ARMK, BFAM +30 more
Andrew Kaplowitz
Citigroup
3 questions for APG
Also covers: ACM, AOS, ATKR +29 more
JM
Julian Mitchell
Barclays Investment Bank
3 questions for APG
Also covers: AIRJ, ALLE, AME +26 more
TM
Timothy Mulrooney
William Blair & Company
3 questions for APG
Also covers: ABM, BBCP, BCO +13 more
Andy Kaplowitz
Citigroup Inc.
2 questions for APG
Also covers: ACM, ATKR, FLS +9 more
AW
Andy Wittman
Robert W. Baird & Co.
2 questions for APG
Also covers: BV
TS
Tomohiko Sano
JPMorgan Chase & Co.
2 questions for APG
Also covers: ALH, ALLE, AOS +4 more
CS
C. Stephen Tusa
JPMorgan Chase & Co.
1 question for APG
Also covers: ADSK, ANSS, CARR +17 more
David Paige
RBC Capital Markets
1 question for APG
Also covers: ADP, CTAS, EFX +4 more
DP
David Paige Papadogonas
RBC Capital Markets
1 question for APG
Also covers: ADP, ADT, CLVT +5 more
E
Ethan
JPMorgan Chase & Co.
1 question for APG
HA
Harold Antor
Jefferies Financial Group Inc.
1 question for APG
Also covers: ARMK, BFAM, BV +9 more
Jack Cauchi
Barclays PLC
1 question for APG
Kenyon Pelletier
Barclays
1 question for APG
Recent press releases and 8-K filings for APG.
APi Group Announces Acquisition of CertaSite and Updates Full-Year 2025 Guidance
APG
M&A
Guidance Update
New Projects/Investments
- APi Group Corporation announced an agreement to acquire CertaSite, an inspection-first provider of fire and life safety services.
- The acquisition is expected to close in the first quarter of 2026, financed with cash on hand, and is anticipated to be accretive to APi's long-term financial targets.
- CertaSite is projected to deliver approximately $90 million in revenue for full-year 2025.
- APi updated its full-year 2025 financial guidance, expecting net revenues and adjusted EBITDA to be at or above the midpoint of the previously provided ranges of $7,875 million and $1,030 million, respectively.
- The company also expects its net leverage ratio to be below 2.0x by year-end 2025.
Dec 10, 2025, 12:40 PM
APi Group Announces CertaSite Acquisition and Provides 2025 Update
APG
M&A
Guidance Update
New Projects/Investments
- APi Group has entered into an agreement to acquire CertaSite, an inspection-first provider of fire and life safety services, with the transaction expected to close in the first quarter of 2026.
- CertaSite is projected to deliver $90 million in revenue for full year 2025 and is anticipated to be accretive to APi's long-term financial targets.
- For 2025, APi expects its net revenues and adjusted EBITDA to be at or above the midpoint of its guidance, which is $7,875 million for net revenues and $1,030 million for adjusted EBITDA.
- The company also anticipates its net leverage ratio will be below 2.0x by year-end.
Dec 10, 2025, 12:30 PM
APi Group Discusses Strategic Growth and Financial Targets
APG
Guidance Update
New Projects/Investments
M&A
- APi Group, which went public in 2019 with $4 billion in sales, has grown to approximately $8 billion in revenue and focuses on fire and life safety, electronic security, and elevator/escalator systems.
- The company is pursuing 10-16-60 2028 financial goals, aiming for a 16% adjusted EBITDA margin by 2028, driven by 300 basis points of margin expansion over a three-year period.
- Its "inspection-first" strategy, where 54%-55% of current revenue comes from inspection, service, and monitoring (ISM), is expected to grow at a mid to upper single-digit rate and contribute to margin expansion due to its 10 percentage points higher gross margin compared to contract work.
- The project business experienced a strong 2025 across diverse end markets like data centers, advanced manufacturing, and healthcare, with data center revenue expected to reach 7-8% of total revenue by year-end 2025, up from 5-6% in 2024.
- APi Group targets $250 million in bolt-on M&A annually, with a focus on international expansion and building a $1 billion elevator services platform in 2026.
Dec 2, 2025, 4:20 PM
APi Group Discusses Growth, Margin Expansion, and M&A Strategy
APG
M&A
Guidance Update
Revenue Acceleration/Inflection
- APi Group has grown significantly, from $4 billion in revenue in 2019 to approximately $8 billion today, driven by an inspection-first strategy and around 200 bolt-on acquisitions since 2002.
- The company targets a 16% adjusted EBITDA margin by 2028, up from a 13% goal for the end of 2025, with expected 25-30% incremental margins in 2026-2028. This will be achieved by emphasizing inspection, service, and monitoring (ISM) work, which has 10 percentage points higher gross margin, and leveraging procurement and SG&A.
- APG's ISM segment, currently 54-55% of total revenue, is expected to grow at mid to upper single digits, with a long-term goal of 60% or more of revenue from this highly recurring segment. The project business is also strong in 2025, with data centers growing from 5-6% of revenue in 2024 to an estimated 7-8% in 2025 and yielding above-average gross margins.
- The company plans to continue its bolt-on M&A strategy, targeting $250 million annually, with a focus on international and elevator services in 2026 to build a $1 billion elevator services platform.
Dec 2, 2025, 4:20 PM
APG Reports Strong Q3 2025 Results and Reaffirms Full-Year Guidance
APG
Earnings
Guidance Update
Revenue Acceleration/Inflection
- APG reported net revenues of $2.1 billion for Q3 2025, an increase of 14.2% year-over-year, with 9.7% organic growth.
- Adjusted EBITDA for Q3 2025 was $281 million, up 14.7% compared to Q3 2024, resulting in an adjusted EBITDA margin of 13.5%. Adjusted diluted earnings per share increased 20.6% to $0.41.
- For the full year 2025, APG expects net revenues between $7,825 million and $7,925 million and adjusted EBITDA between $1,015 million and $1,045 million.
- The company maintains long-term financial targets of $10 billion+ revenue by 2028 and $3.0 billion+ cumulative adjusted free cash flow through 2028E.
- As of the end of Q3 2025, the net leverage ratio was approximately 2.0x, which is below the target of 2.5x - 3.0x.
Oct 30, 2025, 12:30 PM
APG Reports Strong Q3 2025 Results and Raises Full-Year Guidance
APG
Earnings
Guidance Update
M&A
- APG reported Q3 2025 net revenues of $2.1 billion, marking a 14.2% increase compared to the prior year, with organic growth reaching approximately 10%.
- Adjusted diluted earnings per share for the third quarter increased by 20.6% to $0.41.
- The company achieved a 14.7% increase in Adjusted EBITDA, with the margin expanding by 10 basis points to 13.5%.
- Adjusted free cash flow for Q3 2025 was $248 million, representing an 88% conversion rate. Year-to-date adjusted free cash flow reached $434 million.
- APG updated its full-year 2025 guidance, projecting net revenues between $7.825 and $7.925 billion (12% to 13% reported growth and 7% to 8% organic growth) and Adjusted EBITDA between $1.015 and $1.045 billion, reflecting an increase in guidance. The company also completed four bolt-on acquisitions in Q3, bringing the year's total to 11, and is on track to deploy approximately $250 million in M&A for the year.
Oct 30, 2025, 12:30 PM
APi Group Reports Strong Q3 2025 Results and M&A Progress
APG
Earnings
M&A
Guidance Update
- APi Group reported strong Q3 2025 results, with net revenues increasing by 14.2% to $2.1 billion and organic growth of approximately 10%. Adjusted diluted earnings per share (EPS) rose by 20.6% to $0.41.
- The company is on track to deploy approximately $250 million in bolt-on M&A for the year, having completed 11 acquisitions year-to-date, with a robust pipeline focused on North American fire protection, electronic security, and elevators.
- APi Group is progressing towards its 10/16/60+ financial targets for 2028, which include $10 billion in net revenues and a 16%+ adjusted EBITDA margin.
- Strategic investments in AI-enabled technologies and a focus on high-growth end markets like data centers and semiconductors are empowering field leaders and driving growth.
Oct 30, 2025, 12:30 PM
APi Group Reports Strong Q3 2025 Results and Updates Full-Year Guidance
APG
Earnings
Guidance Update
M&A
- APi Group reported strong Q3 2025 financial results, with net revenues increasing 14.2% to $2.1 billion and organic growth of approximately 10%. Adjusted diluted EPS rose 20.6% to $0.41, and adjusted EBITDA margin increased 10 basis points to 13.5%.
- The company updated its full-year 2025 guidance, raising net revenue expectations to $7.825 billion to $7.925 billion. Full-year adjusted EBITDA guidance is now $1.015 billion to $1.045 billion, representing approximately 15% growth at the midpoint.
- APi Group completed four bolt-on acquisitions in Q3, bringing the year-to-date total to 11, and remains on track to deploy approximately $250 million in M&A for the year. The net debt to adjusted EBITDA ratio was approximately 2.0 times at quarter-end.
- The company is progressing towards its 2028 financial targets, which include $10 billion in net revenues, 16%+ adjusted EBITDA margin, and $3 billion+ of cumulative adjusted free cash flow.
Oct 30, 2025, 12:30 PM
APi Group Reports Record Q3 2025 Results and Raises Full-Year Outlook
APG
Earnings
Guidance Update
Revenue Acceleration/Inflection
- APi Group reported record third quarter 2025 net revenues of $2.1 billion, representing a 14.2% year-over-year increase and 9.7% organic growth.
- The company achieved record third quarter reported net income of $93 million, a 34.8% year-over-year increase, and record adjusted EBITDA of $281 million, up 14.7% year-over-year, with adjusted EBITDA margin expanding to 13.5%.
- Diluted EPS for Q3 2025 was $0.20, and adjusted diluted EPS was $0.41.
- APi Group raised its full-year 2025 guidance for net revenues to between $7,825 and $7,925 million and for adjusted EBITDA to between $1,015 and $1,045 million.
Oct 30, 2025, 11:42 AM
APi Group Reports Record Third Quarter 2025 Results and Raises Full-Year Outlook
APG
Earnings
Guidance Update
Revenue Acceleration/Inflection
- APi Group reported record third quarter 2025 net revenues of $2.1 billion, representing 14.2% year-over-year growth and 9.7% organic growth.
- The company achieved record third quarter 2025 reported net income of $93 million, a 34.8% year-over-year increase.
- Adjusted EBITDA reached a record $281 million in Q3 2025, growing 14.7% year-over-year with an adjusted EBITDA margin expansion of 10 basis points to 13.5%.
- APi Group raised its full-year 2025 guidance for net revenues to $7,825 to $7,925 million (up from $7,650 to $7,850 million) and adjusted EBITDA to $1,015 to $1,045 million (up from $1,005 to $1,045 million).
Oct 30, 2025, 11:30 AM
Quarterly earnings call transcripts for APi Group.
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