NYSE$APG
APi Group Corporation · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
APi Group reported record net revenues and solid free cash flow, revenue and adjusted EBITDA growth in a tough macro environment.
APi Group reported a strong third quarter with record net revenues of $1.7 billion, a 66% increase compared to the prior year. Organic net revenue growth was 16%. The company reported net income of $28 million and adjusted net income of $99 million. Adjusted EBITDA increased by 48.8% to $186 million.
- Reported net revenues increased by 66% to $1.7 billion.
- Net revenues increased on an organic basis by 16%.
- Reported gross margin was 25.4%, a 129 basis point increase compared to the prior year.
- Adjusted EBITDA increased by 48.8% to $186 million.
Headline financials
Revenue & EPS history
APi Group · Revenue · Quarterly
$1.74B
Revenue by segment
APi Group · $1.74B total across 2 segments · Q3 2022
- Safety Services$1.15B+116.5%66.2%
- Specialty Services$590M+35.3%33.8%
Forward guidance
As we move through the balance of the year and into 2023, we are confident that our focus on growing statutorily-required, high margin, inspection, service and monitoring revenue, combined with our robust backlog and variable cost structure positions us well to prosper even if the macro environment continues to be volatile. We continue to benefit from the accretive acquisition of Chubb and believe that it will continue to enhance APi by strengthening our resiliency and the protective moat around our business.
Tailwinds
- Focus on growing statutorily-required, high margin, inspection, service and monitoring revenue
- Robust backlog
- Variable cost structure positions us well to prosper even if the macro environment continues to be volatile
- Accretive acquisition of Chubb
- Strengthening our resiliency and the protective moat around our business
Headwinds
- Macro environment continues to be volatile
- COVID-19 pandemic
- Inflationary pressures
- Other macroeconomic factors on the Company’s business, markets, supply chain, customers and workforce
- Supply chain constraints and interruptions
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 Q3 2022
+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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