NYSE$APG
APi Group Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
APi Group reported record financial results for Q4 2023, driven by service growth and margin expansion.
APi Group reported a 3.3% increase in net revenues and a 13.7% increase in adjusted EBITDA for Q4 2023. The company's performance was driven by service growth across both segments and margin expansion. They also announced a $1 Billion Share Repurchase Program.
- Reported net revenue growth of 3.3% (1.5% organic) driven by service growth across both segments.
- Reported and adjusted gross margin increased 170 and 230 basis points, respectively, compared to prior year period.
- Adjusted net income was $120 million and adjusted diluted EPS was $0.44, representing a 22.2% increase from prior year period.
- Adjusted EBITDA increased by 13.7% compared to the prior year period and adjusted EBITDA margin increased 110 basis points to 11.8%.
Headline financials
Revenue & EPS history
APi Group · Revenue · Quarterly
$1.76B
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 provided initial full year 2024 guidance for net revenue, adjusted EBITDA, and free cash flow conversion, as well as guidance for the first quarter of 2024.
Tailwinds
- Net Revenues of $7,050 to $7,250 million for FY2024
- Adjusted EBITDA of $855 to $905 million for FY2024
- Adjusted Free Cash Flow Conversion of approximately 70% for FY2024
- Net Revenues of $1,560 to $1,610 million for Q1 2024
- Adjusted EBITDA of $165 to $180 million for Q1 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 Q4 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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