APi Group Q2 revenue falls 2.3% to $1.7 billion while net income rises 44%
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.
Key points
- 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
The filing
Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 01, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.