APi Group Corp SEC 10-Q Report

APi Group Corp, a leading provider of safety, specialty, and industrial services, has released its Form 10-Q report for the third quarter, showcasing robust financial performance and strategic operational advancements. The report highlights significant growth in key financial metrics and outlines the company's ongoing efforts to optimize its business segments and expand its market presence.

Financial Highlights

APi Group Corp reported impressive financial results for the third quarter, reflecting its strong market position and effective cost management strategies:

• Net Revenues: $1,990 million, a substantial increase from the previous year's $1,730 million for the same period, driven by growth in both Safety Services and Specialty Services segments.
• Gross Profit: $615 million, up from $544 million in the prior year, indicating improved cost management and operational efficiency.
• Operating Income: $143 million, compared to $126 million in the previous year, showcasing effective cost control and increased operational efficiency.
• Net Income: $77 million, an increase from $69 million in the prior year, highlighting the company's strong financial performance.
• Net Income (Loss) Attributable to Common Shareholders: $69 million, consistent with the previous year's $69 million, despite the allocation of income to preferred stock.
• Basic Net Income (Loss) Per Common Share: $0.17, up from $0.15 in the previous year, reflecting the company's improved profitability.
• Diluted Net Income (Loss) Per Common Share: $0.16, compared to $0.15 in the prior year, indicating a positive trend in earnings per share.

Business Highlights

APi Group Corp's operational performance underscores its strategic initiatives and market expansion efforts:

• Revenue Segments: The Safety Services segment generated $1,362 million in net revenues, while the Specialty Services segment contributed $629 million. The Safety Services segment focuses on integrated occupancy systems, including fire protection, elevator, and escalator services, while the Specialty Services segment provides infrastructure and industrial plant services.
• Geographical Performance: In the United States, the company achieved $1,302 million in net revenues, with $674 million from Safety Services and $629 million from Specialty Services. France contributed $172 million, and other regions added $516 million to the Safety Services segment.
• Segment Realignment: In January 2025, the company realigned its segments by moving the HVAC business from Safety Services to Specialty Services. This change reflects the company's strategy to better align its operations with market demands and optimize resource allocation.
• Future Outlook: The company expects to recognize revenue on approximately 80% of the remaining performance obligations over the next twelve months, indicating a strong pipeline of contracted work that will support future revenue growth.
• Operational Strategy: The company continues to focus on integrating acquired businesses and optimizing its operations to drive efficiencies and synergies, particularly within the Safety Services segment. This includes ongoing efforts to enhance service delivery and expand market presence.

SEC Filing: APi Group Corp [ APG ] - 10-Q - Jul. 31, 2025