Every material Form 8-K APi has filed with the SEC since August 01, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
APi Group reported third-quarter 2026 net revenues of $2.6 billion, up 22.5% from a year earlier, and net income of $114 million, up 22.6%. The company raised its full-year 2026 guidance for net revenues and adjusted EBITDA, but gross profit margin fell 120 basis points on rising material, fuel, and other costs.
Q3 2026 net revenues were $2,554 million vs. $2,085 million a year earlier, up 22.5% (15.7% organic)
Diluted EPS was $0.24 vs. $0.20; adjusted diluted EPS was $0.50 vs. $0.41, up 22.0%
Full-year 2026 net revenues guidance raised to $9,200 to $9,250 million from $8,875 to $9,025 million
Full-year 2026 adjusted EBITDA guidance raised to $1,235 to $1,255 million from $1,205 to $1,245 million
APi Group reported record second-quarter 2026 net revenues of $2.3 billion, up 13.3%, and net income of $99 million, up 28.6%, and raised its full-year 2026 guidance for net revenues and adjusted EBITDA. Results were stronger across the board, and the company also gave third-quarter 2026 guidance, which will be watched against future results.
Q2 2026 net revenues $2,254 million, up 13.3% (10.1% organic); adjusted EBITDA $311 million, up 14.3%
Q2 diluted EPS $0.20 vs $0.16 a year earlier; adjusted diluted EPS $0.44 vs $0.39, up 12.8%
Full-year 2026 net revenue guidance raised to $8,875 to $9,025 million from $8,660 to $8,860 million, given July 2, 2026
Full-year adjusted EBITDA guidance raised to $1,205 to $1,245 million from $1,177 to $1,237 million; Q3 2026 net revenue guidance $2,375 to $2,425 million
On May 14, 2026, APi Group DE, Inc., a wholly owned subsidiary of APi Group Corporation, closed a $500 million offering of 5.750% senior notes due 2034 and an amendment to its credit agreement. The amendment raises revolving credit commitments from $750 million to $1.0 billion and extends the revolver to 2031 and the term loan to 2033. The company says the net proceeds will fund general corporate purposes, including previously announced acquisitions, and the new notes add to its outstanding debt.
$500 million of 5.750% senior notes due June 1, 2034, sold in a private offering and closed May 14, 2026
Revolving credit commitments increased from $750 million to $1.0 billion; revolver maturity extended to May 14, 2031
Term loan maturity extended to May 14, 2033; letter of credit sublimit raised from $250 million to $300 million
Proceeds intended for general corporate purposes, including previously announced acquisitions
APi Group reported first-quarter 2026 net revenues of $1.98 billion, up 15.3% from a year earlier, or 10.4% on an organic basis. Net income rose 62.9% to $57 million, and adjusted diluted EPS rose 28.0% to $0.32. The company raised its full-year 2026 guidance for net revenues and adjusted EBITDA.
Adjusted EBITDA rose 21.8% to $235 million, and adjusted EBITDA margin increased 70 basis points to 11.9%.
Full-year 2026 net revenue guidance was raised to $8.475 billion to $8.675 billion, from $8.400 billion to $8.600 billion.
Full-year 2026 adjusted EBITDA guidance was raised to $1.150 billion to $1.210 billion, from $1.140 billion to $1.200 billion.
Second-quarter 2026 guidance calls for net revenues of $2.175 billion to $2.225 billion and adjusted EBITDA of $300 million to $310 million.
APi Group reported fourth-quarter and full-year 2025 results on February 25, 2026, with net revenues up 13.8% in the quarter and 12.7% for the year, and adjusted EBITDA up 21.9% in the quarter. The company also gave initial 2026 guidance for net revenues of $8.4 billion to $8.6 billion and adjusted EBITDA of $1.14 billion to $1.20 billion. GAAP diluted EPS was negative in both periods, mainly because of a $590 million accrued stock dividend on Series A Preferred Stock in the fourth quarter.
Q4 2025 net revenues of $2.1 billion, up 13.8% (11.1% organic); Q4 adjusted EBITDA of $295 million, up 21.9%
Full-year 2025 net income of $302 million and adjusted diluted EPS of $1.48, up 20.3%; GAAP diluted EPS was $(0.69)
Q4 2025 GAAP diluted EPS was $(1.19), versus $(0.07) a year earlier, reflecting $590 million in accrued Series A Preferred stock dividends
2026 guidance: net revenues of $8.4 to $8.6 billion and adjusted EBITDA of $1.14 to $1.20 billion; Q1 2026 net revenues of $1.875 to $1.975 billion
APi Group said 2025 net revenues and adjusted EBITDA are expected to be comfortably above the midpoint of its October 30, 2025 guidance, and it issued initial 2026 guidance. The company also expects adjusted EBITDA margins above its 13% target, adjusted free cash flow conversion in line with its 80% target, and net leverage significantly below 2.0x. The 2025 figures are preliminary and unaudited, and the audit is not complete.
2025 net revenues guidance from October 30, 2025 was $7,825 million to $7,925 million; the company expects results comfortably above the midpoint.
2025 adjusted EBITDA guidance from October 30, 2025 was $1,015 million to $1,045 million; the company expects results comfortably above the midpoint.
2026 net revenues are expected to be $8,400 million to $8,600 million, and 2026 adjusted EBITDA $1,140 million to $1,200 million, a 13.8% margin at the midpoint.
The company will discuss full 2025 results and 2026 outlook on its earnings call on February 25, 2026.
APi Group reported third-quarter 2025 net revenues of $2.1 billion, up 14.2% from a year earlier, and net income of $93 million, up 34.8%. The company raised its full-year 2025 guidance for net revenues and adjusted EBITDA, which signals higher expected results for shareholders.
Q3 2025 net revenues were $2,085 million, up 14.2% (9.7% organic), versus $1,826 million a year earlier
Q3 net income was $93 million and diluted EPS was $0.20, compared with $69 million and $0.15 in Q3 2024
Full-year 2025 net revenue guidance raised to $7,825 to $7,925 million from $7,650 to $7,850 million
Full-year 2025 adjusted EBITDA guidance set at $1,015 to $1,045 million, up from $1,005 to $1,045 million
APi Group reported second-quarter 2025 net revenue of $1.99 billion, up 15.0%, and reported net income of $77 million, up 11.6%. The company raised its full-year 2025 guidance for net revenue and adjusted EBITDA, and gave third-quarter guidance of $1.985 billion to $2.035 billion in net revenue, while gross margin fell 50 basis points.
Q2 2025 net revenue $1.99 billion, up 15.0% (8.3% organic); diluted EPS $0.16 versus $0.15 a year earlier
Adjusted EBITDA $272 million, up 17.7%; adjusted EBITDA margin rose 30 basis points to 13.7%
Full-year 2025 net revenue guidance raised to $7.65 billion to $7.85 billion, from $7.40 billion to $7.60 billion
Full-year adjusted EBITDA guidance raised to $1,005 million to $1,045 million, from $985 million to $1,035 million
APi Group Corporation's subsidiary APi Group DE, Inc. closed Amendment No. 8 to its credit agreement on May 20, 2025. The amendment raised the revolving credit facility by $250 million to $750 million, extended its maturity to five years and lowered borrowing margins. The company also announced a three-for-two stock split payable June 30, 2025, which would increase the number of common shares held by existing holders.
Revolving credit commitments increased by $250 million to $750 million, with the facility extended to the fifth anniversary of May 20, 2025.
Initial margin is 1.50% for Term SOFR borrowings and 0.50% for base rate borrowings; after the first fiscal quarter ending after the effective date, it ranges from 1.25% to 2.00% and 0.25% to 1.00%, based on first lien net leverage.
Board approved a three-for-two stock split, payable as a one-half share dividend on June 30, 2025, to holders of record on June 16, 2025.
Series A Preferred Stock will be convertible into 6,000,000 shares of common stock after the split; cash will be paid in lieu of fractional shares.
APi Group reported first-quarter 2025 net revenues of $1.7 billion, up 7.4%, with adjusted diluted EPS of $0.37, up 8.8%, while GAAP net income fell to $35 million from $45 million. The company raised its full-year 2025 net revenue and adjusted EBITDA guidance, citing foreign currency rates, and authorized a new $1 billion share repurchase program, which matters to shareholders because it signals higher expected results and capital return.
Net revenues were $1.7 billion, up 7.4% (1.9% organic); Safety Services rose 13.4% while Specialty Services fell 6.8%.
Net income was $35 million versus $45 million a year earlier; diluted EPS was $0.11 versus a loss of $1.34, and adjusted diluted EPS was $0.37, up 8.8%.
2025 guidance raised: net revenues $7,400 to $7,600 million (from $7,300 to $7,500 million) and adjusted EBITDA $985 to $1,035 million (from $970 to $1,020 million).
The company repurchased $75 million of common stock in the quarter and authorized a new $1 billion repurchase program; it will hold an Investor Day on May 21, 2025.
APi Group Corporation's board approved the appointment of G. David Jackola as Executive Vice President and Chief Financial Officer, effective March 28, 2025, after he served as interim CFO since December 2024. The filing also sets out his offer letter, which includes a $725,000 base salary and a supplemental 2024 equity award valued at $1,562,500. The filing reports no financial results, so the change mainly confirms who leads the company's finance function.
Board approved Jackola's appointment as EVP and CFO effective March 28, 2025; he had been interim CFO since December 2024
Offer letter sets an annual base salary of $725,000 and a short-term cash incentive target of 100% of base salary
Supplemental 2024 long-term equity award granted March 28, 2025, with an aggregate value of $1,562,500
Jackola will report to Russ Becker, President and CEO, and will speak at APi's Investor Day on May 21 in New York
APi Group reported fourth-quarter 2024 net revenues of $1.9 billion, up 5.8%, and net income of $67 million, up from $25 million a year earlier. For full-year 2025 it gave initial guidance of $7.3 billion to $7.5 billion in net revenues and $970 million to $1.02 billion in adjusted EBITDA, compared with $7.0 billion and $893 million in 2024. Shareholders get a view of expected 2025 growth, though full-year 2024 organic revenue fell 0.9%.
Q4 2024 net revenues $1,861 million, up 5.8% (1.3% organic); adjusted EBITDA $242 million, up 16.3%
Q4 2024 GAAP net income $67 million vs. $25 million; diluted EPS $(0.10) vs. $(1.08)
Q4 2024 adjusted diluted EPS $0.51 vs. $0.44 a year earlier, up 15.9%
2025 guidance: net revenues $7,300-$7,500 million; adjusted EBITDA $970-$1,020 million; Q1 2025 adjusted EBITDA $185-$195 million
APi Group said preliminary 2024 net revenues will exceed its October 2024 guide of about $7 billion and adjusted EBITDA will be in line with the midpoint of its $890 million to $900 million range, before a stronger U.S. dollar. It also gave initial 2025 guidance of $7.3 billion to $7.5 billion in net revenues and $970 million to $1.02 billion in adjusted EBITDA, and closed a repricing of its $2,157 million term loan that cuts the margin by 25 basis points, which the company estimates saves about $5 million a year. The 2024 figures are unaudited and the auditor has not finished its review.
2024 net revenues are expected to be above the October 31, 2024 guide of about $7,000 million; adjusted EBITDA is expected in line with the $890 million to $900 million guided midpoint, before currency impact
2025 guidance: net revenues of $7,300 million to $7,500 million excluding acquisitions or divestitures; adjusted EBITDA of $970 million to $1,020 million, a 13.4% margin at the midpoint
Amendment No. 7 closed February 14, 2025, refinancing approximately $2,157 million of term loans maturing January 3, 2029, with the margin reduced by 25 basis points and about $5 million in annual cash savings
Earnings call scheduled for February 26, 2025; Investor Day set for May 21, 2025
APi Group's Chief Financial Officer, Kevin Krumm, will leave the company effective December 13, 2024, to pursue another professional opportunity. David Jackola, currently CFO and Vice President of Transformation at APi International, will serve as interim CFO until a successor is named, and the company has started a search. The company also reaffirmed its 2024 net revenue and adjusted EBITDA guidance, which it had first given on October 31, 2024.
Kevin Krumm, Executive Vice President and Chief Financial Officer, resigns effective December 13, 2024.
David Jackola, 45, becomes interim CFO; he has been CFO of APi International since November 2022.
Jackola will receive a $25,000 monthly cash stipend and a one-time restricted stock unit grant valued at $500,000, vesting in three equal annual tranches.
2024 net revenue and adjusted EBITDA guidance reaffirmed; the company plans another update in mid-December.
APi Group reported third-quarter 2024 net revenues of $1.8 billion, up 2.4% reported but down 0.2% organically, and net income of $69 million, up 27.8%. The company lowered its 2024 net revenue guidance to approximately $7,000 million from $7,150 to $7,350 million, while narrowing adjusted EBITDA guidance to $890 to $900 million and raising its free cash flow conversion target to at or above 75%, so shareholders face a lower revenue outlook even as profit measures improved.
Q3 net revenues $1,826 million, up 2.4%; organic net revenue change was down 0.2%.
Q3 net income $69 million and diluted EPS $0.23, versus $54 million and $0.15 a year earlier; adjusted diluted EPS $0.51 versus $0.48.
2024 net revenue guidance cut to approximately $7,000 million from $7,150 to $7,350 million; adjusted EBITDA guidance set at $890 to $900 million, down from $885 to $915 million.
Specialty Services net revenues fell 13.4% to $493 million, with organic revenue down 7.7%.
APi Group reported second-quarter 2024 net revenues of $1.7 billion, down 2.3% from a year earlier, with organic revenue down 3.1%. Net income rose 43.8% to $69 million and diluted EPS was $0.22, up from $0.12, as gross margin increased 340 basis points. The company reaffirmed its full-year net revenue guidance of $7.15 billion to $7.35 billion, narrowed its full-year adjusted EBITDA range to $885 million to $915 million, and issued third-quarter guidance for net revenues of $1.86 billion to $1.91 billion.
Q2 net revenues $1.73 billion, down 2.3%; organic decline of 3.1%, driven by Specialty Services down 18.4%
Q2 net income $69 million (up 43.8%); diluted EPS $0.22 vs. $0.12; adjusted diluted EPS $0.49 vs. $0.41
Q2 adjusted EBITDA $231 million, up 13.8%; adjusted EBITDA margin 13.4%, up 190 basis points
Full-year 2024 adjusted EBITDA narrowed to $885 million to $915 million; Q3 adjusted EBITDA guided to $240 million to $250 million
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