NYSE$APG
APi Group Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
APi Group reported record first-quarter results, driven by double-digit organic growth in services revenues and margin expansion.
APi Group reported a strong start to 2023 with record first-quarter results, including a 9.7% increase in net revenue and a 12.1% organic net revenue growth. The company's adjusted EBITDA increased by 14.8%, with a margin expansion of 40 basis points. Due to the strong performance, APi Group is raising its full-year guidance for net revenues and adjusted EBITDA..
- Net revenue increased by 9.7% due to double-digit growth in services revenues.
- Organic net revenue grew by 12.1% compared to the prior year period.
- Adjusted EBITDA increased by 14.8% driven by gross margin accretive organic growth.
- Adjusted EBITDA margin increased 40 basis points to 9.1%.
Headline financials
Revenue & EPS history
APi Group · Revenue · Quarterly
$1.61B
Revenue by segment
APi Group · $1.62B total across 2 segments · Q1 2023
- Safety Services$1.19B+10.9%73.5%
- Specialty Services$430M+4.4%26.5%
Forward guidance
APi Group is raising its full year net revenue and adjusted EBITDA guidance originally announced on February 21, 2023 and announces guidance for the second quarter of 2023
Tailwinds
- Net Revenues of $6,875 to $7,025 million, up from $6,800 to $6,950 million
- Adjusted EBITDA of $740 to $780 million, up from $735 to $775 million
- Adjusted Free Cash Flow Conversion at or above 65% remains unchanged
- Net Revenues of $1,750 to $1,780 million for the second quarter of 2023
- Adjusted EBITDA of $195 to $205 million for the second quarter of 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.4%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+3.9%
Avg return
30 days after
44%
11 / 25 earnings
Positive
+10.7%
Q3 2022
Best reaction
-9.4%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.0% | -6.3% | -15.7% | |
| Q4 2025 | -0.4% | +0.5% | -7.3% | |
| Q3 2025 | +1.9% | +2.8% | +14.8% | |
| Q1 2025 | +6.6% | +12.3% | +23.4% | |
| Q4 2024 | -0.3% | +4.7% | -0.9% | |
| Q3 2024 | +6.4% | +5.7% | +13.8% | |
| Q2 2024 | -9.4% | -12.4% | -6.2% | |
| Q1 2024 | -2.3% | -0.0% | -5.8% | |
| Q4 2023 | -1.9% | +7.5% | +9.9% | |
| Q3 2023 | +7.2% | +4.2% | +20.5% | |
| Q2 2023 | -2.7% | -1.6% | -1.7% | |
| Q1 2023 | +1.1% | -0.8% | +5.4% | |
| Q4 2022 | +1.0% | +7.0% | -5.1% | |
| Q3 2022 | +10.7% | +12.7% | +23.0% | |
| Q2 2022 | -5.4% | -8.5% | -16.9% | |
| Q1 2022 | -8.6% | -14.6% | -5.7% | |
| Q4 2021 | -4.1% | +6.0% | +5.0% | |
| Q3 2021 | +9.3% | +10.6% | +6.2% | |
| Q2 2021 | -2.7% | -0.2% | -4.0% | |
| Q1 2021 | -6.7% | -6.9% | +7.2% | |
| Q4 2020 | -2.9% | +1.5% | +11.5% | |
| Q3 2020 | +2.5% | +1.2% | +15.9% | |
| Q2 2020 | -1.7% | +3.3% | -3.7% | |
| Q1 2020 | +9.1% | +7.6% | +7.1% | |
| Q4 2019 | +9.1% | +7.6% | +7.1% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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