---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-005454"
form_type: "8-K"
ticker: "APG"
cik: "0001796209"
company_name: "APi Group Corp"
filed_at: "2024-02-20T23:59:59+00:00"
generated_at: "2026-06-05T23:17:19.574492+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# APi Group beats 2023 guidance, guides 2024 revenue $7.05-7.25B, EBITDA $855-905M

## Summary
- 2023 net revenue and adjusted EBITDA expected above midpoint of $6,925M and $780M, respectively.
- Net leverage ratio of ~2.3x (below 2.5x); adjusted free cash flow conversion exceeded 65% target.
- 2024 guidance: net revenue $7,050M-$7,250M, adjusted EBITDA $855M-$905M; double-digit core inspection growth.
- Reaffirms 2025 goal of 13%+ adjusted EBITDA margin through service mix and procurement savings.
- Strong balance sheet enables acceleration of bolt-on M&A strategy.

## SEC filing metadata
- accession: 0001628280-24-005454
- form_type: 8-K
- ticker: APG
- cik: 0001796209
- company_name: APi Group Corp
- filed_at: 2024-02-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1796209/000162828024005454/0001628280-24-005454-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1796209/000162828024005454/apg-20240220.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-005454
- JSON: https://secwatch.observer/filing/0001628280-24-005454.json
- Plain text: https://secwatch.observer/filing/0001628280-24-005454.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.