---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-019803"
form_type: "8-K"
ticker: "APG"
cik: "0001796209"
company_name: "APi Group Corp"
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T00:47:06.969825+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# APi Group posts record Q1 net income of $45M (+73% YoY); acquires Elevated Facility Services Group

## Summary
- Net income $45M vs $26M YoY; adjusted EBITDA $175M (+19%); adjusted diluted EPS $0.34 vs $0.25.
- Revenue $1.601B down 0.8% YoY, but gross margin expanded 440 bps to 30.7%.
- Retired all outstanding Series B Preferred Stock, simplifying capital structure.
- Agreed to acquire Elevated Facility Services Group, entering adjacent service market; no deal value disclosed.
- Reaffirmed long-term targets: 13%+ adjusted EBITDA margin by 2025 and '13/60/80' goals.

## SEC filing metadata
- accession: 0001628280-24-019803
- form_type: 8-K
- ticker: APG
- cik: 0001796209
- company_name: APi Group Corp
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1796209/000162828024019803/0001628280-24-019803-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1796209/000162828024019803/apg-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-019803
- JSON: https://secwatch.observer/filing/0001628280-24-019803.json
- Plain text: https://secwatch.observer/filing/0001628280-24-019803.txt

## Key facts
- Earnings Releases
  APi Group Corp reported the three months ended March 31, 2024 results: revenue $1,601, net income $45 million, EPS $(1.34).
  - Period: the three months ended March 31, 2024
  - Revenue: $1,601
  - Net income: $45 million
  - EPS: $(1.34)
  - Result: reported results
  source text: First Quarter 2024 Consolidated Results: Three Months Ended March 31, 2024 2023 Y/Y Y/Y (FFX) (a) Net revenues $ 1,601 $ 1,614 (0.8) % (1.2) % Organic net revenue growth (b) (1.4) % GAAP Gross profit $ 492 $ 425 15.8 % Gross margin 30.7 % 26.3 % + 440 bps Net income $ 45 $ 26 73.1 % Diluted EPS $ (1.34) $ 0.05 NM
  evidence_url: https://www.sec.gov/Archives/edgar/data/1796209/000162828024019803/0001628280-24-019803-index.htm

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