APi Group Corporation - APG STOCK NEWS

APi Group Corporation (NYSE: APG) will release its first quarter financial results for the period ending March 31, 2022, on May 4, 2022, before market open. A conference call with key executives, including President Russ Becker and CFO Kevin Krumm, will take place at 8:00 a.m. ET on the same day to discuss these results. Investors can access the call via telephone or through a webcast. APi provides essential safety and specialty services globally, with a strong customer base across various industries.

APi Group Corporation (NYSE: APG) has authorized a stock repurchase program totaling $250 million to buy back its common stock. The program allows for various purchase methods, including open market repurchases and private transactions. President and CEO Russ Becker emphasized the company's strong free cash flow and capital allocation strategy, which supports organic growth and potential acquisitions. The repurchase program is set to expire on February 29, 2024, pending Board adjustments.

APi Group Corporation (NYSE: APG) reported a 26% increase in net revenues for Q4 2021, reaching $1.1 billion, driven primarily by growth in Safety and Specialty Services and acquisitions. Gross margin expanded 219 basis points to 24.6%. For the full year, net revenues rose 9.8% to $3.9 billion. Reported net income was $15 million, a notable recovery from a prior loss. Looking ahead, APi aims for a 3-year growth plan targeting an EBITDA margin of 13%+ by 2025, leveraging a growing backlog and strong demand in key markets.

APi Group Corporation (NYSE: APG) has provided preliminary year-end 2021 results and initial guidance for 2022, expecting net revenues to elevate to between $6.3 billion and $6.5 billion, alongside adjusted EBITDA ranging from $650 million to $700 million. Despite challenges like inflation, supply chain disruptions, and COVID-19 impacts, the company maintains a positive outlook, emphasizing strong performance and a growing backlog. Details of the fourth quarter and full year 2021 results are set to be released on March 1, 2022.

Carrier Global Corporation (NYSE: CARR) has finalized the sale of its Chubb fire and security business to APi Group Corporation (NYSE: APG) for an enterprise value of $3.1 billion. This strategic sale allows Carrier to concentrate on its core operations and utilize the proceeds for growth initiatives, dividends, and share buybacks while maintaining a strong credit rating. The Chubb fire and security products business remains part of Carrier's portfolio. Carrier's CEO highlighted that the sale enhances growth, margin, and free cash flow.

APi Group Corporation (NYSE: APG) has successfully completed the acquisition of Chubb's fire and security business from Carrier Global Corporation (NYSE: CARR) for an enterprise value of $3.1 billion. This strategic move aims to enhance APi's position as a global leader in life safety services, with a focus on recurring revenue. Chubb, employing approximately 13,000 globally, operates in 17 countries, serving over 1.5 million customer sites. The acquisition is expected to drive revenue growth through cross-selling opportunities and synergies.

APi Group Corporation (NYSE: APG) updated its 2021 financial guidance, now expecting net revenues of at least $3.8 billion, up from previous guidance of $3.65 to $3.75 billion. The acquisition of the Chubb fire and security business is on track to close in early January. Despite supply chain disruptions and inflation, the company remains confident in achieving its adjusted EBITDA guidance of $405 million for 2021. Initial guidance for 2022 will be provided in February 2022.

APi Group Corporation (NYSE: APG) reported strong financial results for Q3 2021, with net revenues of $1 billion, a 9.3% increase year-over-year. Organic growth was particularly robust, reaching 13.4%, bolstered by Safety and Specialty Services. Adjusted EBITDA was $125 million, reflecting a slight decline in margin to 11.9% due to supply chain issues. The company is on track to close its acquisition of Chubb fire and security around year-end 2021. Net income was $19 million, down from $27 million in the prior year, largely due to increased share count. Overall, APG is well-positioned for future growth.

APi Group Corporation (NYSE: APG) has announced its intent to release third quarter 2021 financial results on November 10, 2021. Due to a recent public offering of 22,716,049 shares, the expected diluted weighted average shares for Q3 is approximately 210 million. The company anticipates net revenues will meet the higher end of analysts' expectations for the period ending September 30, 2021. A conference call will follow the earnings release to discuss results.