APi Group Corporation - APG STOCK NEWS

APi Group Corporation (NYSE: APG) reported strong financial results for Q4 and the full year ended December 31, 2022. Net revenues increased by 53.1% in Q4 and 66.4% for the year, reaching $1.7 billion and $6.6 billion, respectively. Organic growth accounted for 5.8% in Q4 and 12.2% for the year. The diluted EPS was $0.04 for Q4 and $0.10 for the year. Net income rose to $22 million in Q4 and $73 million for the full year. The company's debt to adjusted EBITDA ratio improved to 3.1x by the end of Q4. APi’s management expressed confidence moving into 2023, citing a strong backlog and positive growth prospects.

APi Group Corporation (NYSE: APG) has released preliminary results for 2022, indicating that net revenues and adjusted EBITDA will be at the higher end of prior guidance. The Company reported a strong free cash flow, reducing its Term Loan debt by $200 million. For 2023, APG projects net revenues between $6,800 and $6,950 million, with adjusted EBITDA expected between $735 and $775 million. The outlook includes a target of achieving a 13%+ adjusted EBITDA margin by 2025, supported by a robust backlog and the implementation of a global inspection sales force strategy.

APi Group Corporation (NYSE: APG) plans to release its fourth quarter and full year financial results for the year ended December 31, 2022, before the market opens on February 28, 2023. In January, the Company made a $200 million payment on its Term Loan debt, with equal amounts allocated to its 2019 and 2021 Term Loans. CEO Russ Becker emphasized the importance of this paydown in reducing leverage and enhancing cash generation, aiming for a target net leverage ratio of 2.0 to 2.5x. A conference call to discuss financial results is scheduled for the same day at 8:30 a.m. Eastern Time.

APi Group Corporation (NYSE: APG) is hosting an investor update meeting today at 9:00 a.m. ET, where it is anticipated to raise its value capture target from $40 million to at least $80 million, following the acquisition of Chubb. This strategic shift suggests significant growth potential and optimizes the company's financial targets. Attendees can access the live presentation and materials on APi's website post-event, providing insights into the company's performance and future direction.

APi Group (APG) reported a record net revenue of $1.7 billion for Q3 2022, reflecting a 66% increase year-over-year. Adjusted EBITDA rose 48.8% to $186 million, driven by acquisitions and organic growth in Safety Services. The company achieved an adjusted EPS of $0.37 and net income of $99 million. Operating cash flow also improved, totaling $146 million. Despite inflationary pressures impacting margins, APi remains confident in its growth strategy, targeting a 13% EBITDA margin by 2025 and maintaining strong free cash flow.

APi Group Corporation (NYSE: APG) will release its third quarter financial results on November 3, 2022, prior to market opening. A conference call at 8:30 a.m. Eastern Time will discuss these results. The call will feature CEO Russell A. Becker and CFO Kevin S. Krumm. An investor update is scheduled for November 17, 2022, where APi will discuss the integration of Chubb, cost-efficiency efforts, and future growth initiatives. This meeting will also include insights on earnings and cash flow projections.

APi Group Corporation (NYSE: APG) reported a record second quarter with net revenues of $1.6 billion, a 69% increase year-over-year. Organic growth contributed 12% to revenue, primarily from Safety Services. Adjusted EBITDA rose 66% to $176 million, reflecting strong operational performance despite inflation and supply chain disruptions. The adjusted diluted EPS reached $0.37, up $0.08 from the prior year. First-half revenues increased 75% to $3.1 billion as APi continues to focus on growing inspection and service revenue amidst a volatile macro environment.

APi Group Corporation (NYSE: APG) announced it will release its second quarter financial results for the period ending June 30, 2022, before market opening on August 4, 2022. A conference call is scheduled for the same day at 8:00 a.m. Eastern Time, featuring key executives including President and CEO Russ Becker. The call will be accessible via telephone or through a webcast. APi is recognized as a market leader in safety and specialty services, operating over 500 locations worldwide, and focuses on delivering innovative solutions to its established customer base.

APi Group Corporation (NYSE: APG) announced that CEO Russ Becker and CFO Kevin Krumm will participate in a fireside chat at the UBS Global Industrials and Transportation Conference on June 8, 2022, at 8:00 a.m. ET. A live webcast and archived replay will be available on their Investor Relations website. APi is a leading global business services provider focused on safety and specialty services across various industries, with over 500 locations worldwide and a strong customer base.