secwatch.observer — SEC 8-K summary
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Issuer:     APi Group Corp (APG)
CIK:        0001796209
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001628280-24-019803
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1796209/000162828024019803/0001628280-24-019803-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1796209/000162828024019803/apg-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-019803

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer