NYSE$APG
APi Group Corporation · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
APi Group's financial performance remained strong in Q2 2024, marked by record net income and adjusted EBITDA.
APi Group reported a slight decrease in net revenues but achieved record second quarter net income, adjusted EBITDA, and free cash flow generation. The company reaffirms full year net revenue guidance and narrows full year adjusted EBITDA range.
- Net revenues were $1.7 billion, a 2.3% decrease year-over-year.
- Net income reached a record $69 million, representing a 44% increase year-over-year.
- Adjusted EBITDA was a record $231 million, up 14% year-over-year.
- Adjusted EBITDA margin increased 190 basis points to a record 13.4%.
Headline financials
Revenue & EPS history
APi Group · Revenue · Quarterly
$1.73B
Revenue by segment
APi Group · $1.79B total across 2 segments · Q3 2023
- Safety Services$1.22B+5.5%68.1%
- Specialty Services$569M-3.6%31.9%
Forward guidance
APi Group reaffirms full year net revenue guidance and narrows full year adjusted EBITDA range. Net Revenues of $7,150 to $7,350 million and Adjusted EBITDA of $885 to $915 million.
Tailwinds
- Net Revenues of $7,150 to $7,350 million
- Adjusted EBITDA of $885 to $915 million
- Adjusted Free Cash Flow Conversion of approximately 70% of adjusted EBITDA
- Net Revenues of $1,860 to $1,910 million for Q3 2024
- Adjusted EBITDA of $240 to $250 million for Q3 2024
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 Q2 2024
+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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