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Jun 30, 2024
APi Group Q2 2024 Earnings Report
APi Group's financial performance remained strong in Q2 2024, marked by record net income and adjusted EBITDA.
Key Takeaways
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%.
Revenue by Segment
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.
Positive Outlook
- 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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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