APi Group Q3 adjusted EBITDA record $245M; cuts FY revenue guidance to ~$7.0B

APi Group Corp

2024-Q3 EPS reported -$0.74 revenue$5,157,000,000

Net revenues $1.826B (+2.4% yoy), organic decline 0.2%; adjusted EBITDA $245M (+9.4%), margin 13.4%.
Net income $69M (+28% yoy), diluted EPS $0.23; adjusted diluted EPS $0.51.
Safety Services rev $1.335B (+9.7% reported, +3.1% organic); adjusted EBITDA margin 15.7%.
Specialty Services rev $493M (-13.4%, organic -7.7%); adjusted EBITDA margin 13.6% vs 14.6%.
FY guidance: net revenue ~$7.0B (down from $7.15-7.35B); adj EBITDA $890-900M; FCF ≥75% (prev ~70%).

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