Welcome to our dedicated page for Api Group news (Ticker: APG), a resource for investors and traders seeking the latest updates and insights on Api Group stock.
APi Group Corporation (NYSE: APG) is a global business services provider focused on fire and life safety, security, elevator and escalator, and specialty services, and its news flow reflects this mix. Company updates frequently highlight developments in its Safety Services and Specialty Services segments, recurring inspection and service activities, and capital allocation decisions.
News about APi often centers on financial results and guidance. The company regularly issues quarterly earnings releases that discuss net revenues, segment performance, adjusted EBITDA, and organic net revenue growth, as well as updates to full-year outlooks. These releases also describe trends in recurring inspection, service, and monitoring revenues, project activity, and margin dynamics across Safety Services and Specialty Services.
Another key theme in APi’s news is acquisition and growth activity. The company has announced agreements such as the planned acquisition of CertaSite, an inspection-first provider of fire and life safety services in the Midwest region, which APi describes as aligned with its inspection-first strategy and recurring revenue focus. News items may also reference bolt-on acquisitions and the role of M&A in supporting APi’s long-term financial framework.
Investors following APG news will also see capital markets and shareholder-related announcements, including information on stock splits, stock dividends related to preferred shares, and responses to unsolicited mini-tender offers. In addition, APi issues releases about participation in investor conferences and the timing of upcoming earnings calls, providing access details for webcasts and replays.
This news page aggregates these types of updates so readers can review earnings releases, acquisition announcements, conference participation notices, and other corporate communications related to APi Group Corporation in one place.
APi Group (NYSE: APG) has announced its plans to release financial results for Q2 2024 on August 1, 2024, before the market opens. The company will host a webcast/dial-in conference call at 8:30 a.m. Eastern Time on the same day to discuss the results. Key participants in the call will include Russell A. Becker (President and CEO), Kevin S. Krumm (EVP and CFO), and James E. Lillie and Sir Martin E. Franklin (Co-Chairs).
APi Group is a global leader in business services, specializing in fire and life safety, security, elevator and escalator, and specialty services. The company boasts a strong recurring revenue base and operates in over 500 locations worldwide.
APi Group (NYSE: APG) has completed its acquisition of Elevated Facility Services Group for approximately $570 million. Elevated, based in Tampa, Florida, and operating in over 18 states, is expected to generate about $220 million in annual revenue with an adjusted EBITDA margin of 20%. This acquisition marks APi's entry into the $10+ billion U.S. elevator and escalator services market and is anticipated to boost the company’s financial profile.
APi has raised its full-year 2024 guidance, now expecting net revenues between $7,150 and $7,350 million, and adjusted EBITDA between $875 and $925 million. The company projects organic revenue growth of 5% to 9% in the second half of the year and expects to achieve record profitability. APi's acquisition strategy, supported by a strong balance sheet, aims to drive further growth in the fragmented market.
APi Group (NYSE: APG) successfully completed debt refinancing, resulting in substantial cash interest savings of approximately $12 million annually. The refinancing included an upsizing and repricing of term loans due 2029, with a 50 basis points reduction in the borrowing rate. The company incurred approximately $2,257 million of incremental term loans due 2029 to refinance existing loans, repay outstanding loans, and fund general corporate purposes, including the pending acquisition of Elevated Facilities Services Group. The transaction closed on May 10, 2024, with an expected net leverage ratio of approximately 2.8x and a weighted average maturity of about 5 years. Additionally, APi will be participating in a fireside chat at the Bank of America Industrials Conference on May 14, 2024.
APi Group reported strong first quarter financial results for 2024, with record net income of $45 million (up 73% year-over-year) and adjusted EBITDA of $175 million (up 19% year-over-year). The company simplified its capital structure by retiring all outstanding Series B Preferred Stock and entered a new service market with an agreement to acquire Elevated Facility Services Group. APi remains focused on margin expansion initiatives and targets a 13% adjusted EBITDA margin by 2025. The company is excited about its pipeline of opportunities and aims to deliver on both its 2024 plan and long-term targets.
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