APG

APi (APG) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on October 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This company is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of +14.6%. Revenues are expected to be $2.39 billion, up 14.6% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For APi, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%. On the other hand, the stock currently carries a Zacks Rank of #2. So, this combination makes it difficult to conclusively predict that APi will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that APi would post earnings of $0.44 per share when it actually produced earnings of $0.44, delivering no surprise. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. APi doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report APi Group Corporation (APG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Wrapping up Q2 earnings, we look at the numbers and key takeaways for the construction and maintenance services stocks, including APi (NYSE:APG) and its peers. Construction and maintenance services companies not only boast technical know-how in specialized areas but also may hold special licenses and permits. Those who work in more regulated areas can enjoy more predictable revenue streams - for example, fire escapes need to be inspected every five years. More recently, services to address energy efficiency and labor availability are also creating incremental demand. But like the broader industrials sector, construction and maintenance services companies are at the whim of economic cycles as external factors like interest rates can greatly impact the new construction that drives incremental demand for these companies' offerings. The 11 construction and maintenance services stocks we track reported a very strong Q2. As a group, revenues beat analysts' consensus estimates by 3.6% while next quarter's revenue guidance was 6.2% above. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.9% since the latest earnings results. Started in 1926 as an insulation contractor, APi (NYSE:APG) provides life safety solutions and specialty services for buildings and infrastructure. APi reported revenues of $2.25 billion, up 13.3% year on year. This print exceeded analysts' expectations by 2.1%. Overall, it was a very strong quarter for the company with revenue guidance for next quarter exceeding analysts' expectations and an impressive beat of analysts' organic revenue estimates. Interestingly, the stock is up 5.3% since reporting and currently trades at $40.51. Read why we think that APi is one of the best construction and maintenance services stocks, our full report is free. Known for constructing the Philadelphia Eagles' Stadium, Tutor Perini (NYSE:TPC) is a civil and building construction company offering diversified general contracting and design-build services. Tutor Perini reported revenues of $1.64 billion, up 19.2% year on year, outperforming analysts' expectations by 4.4%. The business had an incredible quarter with a beat of analysts' EPS estimates and full-year EPS guidance exceeding analysts' expectations. The market seems content with the results as the stock is up 1.8% since reporting. It currently trades at $86.07. Is now the time to buy Tutor Perini? Access our full analysis of the earnings results here, it's free. Founded in Oklahoma, Matrix Service (NASDAQ:MTRX) provides engineering, fabrication, construction, and maintenance services primarily to the energy and industrial markets. Matrix Service reported revenues of $244.5 million, up 13% year on year, falling short of analysts' expectations by 1%. It was a disappointing quarter as it posted a significant miss of analysts' EBITDA estimates and a significant miss of analysts' EPS estimates. As expected, the stock is down 3.5% since the results and currently trades at $10.48. Read our full analysis of Matrix Service's results here. Established in 1901, Limbach (NASDAQ: LMB) provides integrated building systems solutions, including mechanical, electrical, and plumbing services. Limbach reported revenues of $173.5 million, up 21.9% year on year. This number missed analysts' expectations by 2.1%. Overall, it was a softer quarter as it also produced full-year EBITDA guidance missing analysts' expectations significantly and a significant miss of analysts' EBITDA estimates. Limbach pulled off the highest full-year guidance raise in the group. The stock is down 33.9% since reporting and currently trades at $50.97. Read our full, actionable report on Limbach here, it's free. Constructing electrical and phone lines in the American Midwest dating back to the 1890s, MYR Group (NASDAQ:MYRG) is a specialty contractor in the electrical construction industry. MYR Group reported revenues of $1.08 billion, up 20.1% year on year. This result surpassed analysts' expectations by 8.3%. Overall, it was a stunning quarter as it also put up a solid beat of analysts' EBITDA estimates and a beat of analysts' EPS estimates. The stock is flat since reporting and currently trades at $320.24. Read our full, actionable report on MYR Group here, it's free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market's biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market's primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market's dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Interested in APi Group Corporation? Here are five stocks we like better. Strong second-quarter performance: Revenue rose 13.3% year over year to $2.25 billion, while adjusted EBITDA increased 14.3% and the margin expanded to 13.8%. Record backlog surpassed $5 billion, supported by growth across Safety and Specialty Services. Data centers drove demand and backlog: Specialty Services revenue grew 22.9%, with data centers, semiconductors, advanced manufacturing and critical infrastructure contributing to project activity. Data centers accounted for an estimated 15%–20% of the quarterly backlog increase and could represent 10%–12% of 2026 revenue. APi raised its 2026 outlook: The company now expects revenue of $8.875 billion–$9.025 billion and adjusted EBITDA of $1.205 billion–$1.245 billion. APi also reported stronger free cash flow, maintained leverage below its target range and continued pursuing bolt-on acquisitions and share repurchases. APi Group (NYSE:APG) reported second-quarter revenue growth, margin expansion and record backlog, while raising its full-year revenue and adjusted EBITDA outlook following a strong first half of 2026. Reported net revenues rose 13.3% year over year to $2.25 billion for the quarter ended June 30, driven by 10.1% organic growth, inspection and service revenue growth, project activity and pricing improvements. Adjusted EBITDA increased 14.3% to produce a 13.8% adjusted EBITDA margin, up 10 basis points from a year earlier. Adjusted diluted earnings per share increased 12.8% to $0.44. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now President and CEO Russ Becker said the company’s business model and execution supported growth across both segments, with strength in service offerings and a robust project environment. The company ended the quarter with backlog exceeding $5 billion for the first time. Safety Services revenue increased 8.8% to $1.48 billion, with 4.7% organic growth. The segment’s adjusted gross margin rose 20 basis points to 37.4%, helped by customer and project selection as well as pricing improvements. Segment earnings increased 8.6%, while the segment earnings margin was unchanged at 17% as gross-margin gains were offset by increased selling, general and administrative expenses. → Microsoft Just Flipped the AI Spending Narrative Overnight Becker said North American Safety Services delivered high-single-digit organic growth, supported by growth in both project and service revenue. International Safety Services was flat for the quarter, although he said the business returned to organic growth in the latter portion of the period. The company is working to further develop its international “Inspection First” strategy, emphasizing recurring inspection, service and monitoring revenue. Becker said global-account investments are gaining traction internationally, with both pipeline and backlog increasing during the quarter. The company also received new data-center project awards outside the U.S. → Carrier Earnings Could Send the Stock to a New All-Time High Specialty Services revenue climbed 22.9% to $773 million, including 22% organic growth. Adjusted gross margin expanded 120 basis points to 19.3%, while segment earnings increased 29.6% and the segment earnings margin rose 60 basis points to 11.9%. Chief Financial Officer David Jackola attributed Specialty Services margin gains to disciplined customer and project selection, pricing and lower contract losses. Becker said the majority of the segment’s organic growth came from market share gains and volume rather than price. Data centers were a notable contributor to Specialty Services demand, according to Becker. APi provides HVAC and mechanical work, structured cabling, structural steel and insulated paneling, among other services, for data-center customers. The company also cited semiconductors, advanced manufacturing, healthcare and critical national infrastructure as targeted end markets. Becker said larger projects are contributing to growth, particularly in fire protection and life safety work for data centers. He said a large data-center fire project that may have been valued at $7 million to $8 million several years ago can now approach $20 million. While project work generally carries gross margins roughly 10 percentage points below inspection, service and monitoring work, Becker said certain larger and more complex projects can command better pricing and narrower margin differences. He said APi remains on track toward its long-term target of at least a 16% adjusted EBITDA margin by 2028. The company’s record backlog is diversified across its business lines and end markets. Becker said the quality of the current backlog should generate better gross margins than the backlog a year ago, though larger projects are extending average project durations to roughly nine to 12 months from a historical range of about six to nine months. Jackola estimated that data centers accounted for roughly 15% to 20% of the increase in backlog during the quarter, while cautioning that the figure was a rough estimate. He said data centers could represent about 10% to 12% of 2026 revenue. Adjusted free cash flow totaled $228 million for the first six months of the year, up $42 million from the prior-year period. The company reported adjusted free-cash-flow conversion of 68% on adjusted net income and said it remains on track for approximately 115% conversion for the full year. APi ended the quarter with a net leverage ratio of 2.2 times, below its long-term target range of 2.5 to 3 times. During the quarter, the company issued $500 million of 5.75% senior unsecured notes due 2034, expanded its revolving credit facility to $1 billion and extended the maturity of its Term Loan B to 2033. The company also repurchased about 1.6 million shares for $66 million under its existing $1 billion share repurchase authorization. On the acquisition front, APi closed the acquisition of Onyx-Fire in June and WTech in early July, while completing three additional bolt-on acquisitions during the quarter. Becker said the bolt-ons included the first acquisition in the company’s elevator and escalator services business and one in international safety services. APi continues to target $250 million in bolt-on acquisition spending this year and is building capabilities to scale annual deployment toward $350 million. Becker said the company’s priorities include fire and life safety, security, elevator and escalator services, and potentially HVAC services when suitable opportunities arise. APi raised its full-year 2026 outlook, now expecting net revenues of $8.875 billion to $9.025 billion, compared with prior guidance of $8.66 billion to $8.86 billion. The updated range implies organic revenue growth of 7% to 9%. The company raised its adjusted EBITDA forecast to $1.205 billion to $1.245 billion, from $1.177 billion to $1.237 billion previously. At the midpoint, the outlook implies a 13.7% adjusted EBITDA margin and annual adjusted EBITDA growth of 16% to 20%. For the third quarter, APi expects revenue of $2.375 billion to $2.425 billion, representing organic growth of about 8% to 10%, and adjusted EBITDA of $325 million to $335 million. The company said its outlook reflects continued strength in North American Safety Services, modest improvement in international safety operations and continued growth in Specialty Services. APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements. Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "APi Group Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Net Revenues: $2.25 billion for Q2 2026, a 13.3% increase year-over-year, with organic growth of 10.1%. Adjusted Gross Margin: 31.2%, unchanged compared to the prior year period. Adjusted EBITDA: Increased 14.3% year-over-year, with adjusted EBITDA margin of 13.8%, a 10 basis point increase. Adjusted Diluted EPS: $0.44, a 12.8% increase year-over-year. Safety Services Segment Revenue: $1.48 billion, an 8.8% increase, with organic growth of 4.7%. Safety Services Adjusted Gross Margin: 37.4%, a 20 basis point increase. Safety Services Segment Earnings Margin: 17%, unchanged year-over-year. Specialty Services Segment Revenue: $773 million, a 22.9% increase, with organic growth of 22%. Specialty Services Adjusted Gross Margin: 19.3%, a 120 basis point increase. Specialty Services Segment Earnings Margin: 11.9%, a 60 basis point increase. Adjusted Free Cash Flow: $228 million for the first half of 2026, up $42 million year-over-year. Net Leverage Ratio: 2.2 times at quarter end. Backlog: Record backlog surpassing $5 billion for the first time. Share Repurchases: Approximately 1.6 million shares repurchased for $66 million during the quarter. Full Year 2026 Net Revenue Guidance: Raised to $8.875 billion to $9.025 billion, representing 7% to 9% organic growth. Full Year 2026 Adjusted EBITDA Guidance: Raised to $1.205 billion to $1.245 billion, representing 16% to 20% growth. Warning! GuruFocus has detected 4 Warning Sign with APG. Is APG fairly valued? Test your thesis with our free DCF calculator. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. APi Group Corp (NYSE:APG) delivered strong financial results with net revenues increasing 13% and organic growth of 10.1%, driven by robust performance across both Safety Services and Specialty Services segments. The company achieved a record backlog surpassing $5 billion for the first time, with strong demand across key end markets like data centers, semiconductors, and advanced manufacturing. APi Group Corp (NYSE:APG) raised its full-year 2026 guidance for revenue and adjusted EBITDA, reflecting strong first-half performance and an improved outlook for the remainder of the year. The company generated strong cash flow with $228 million in adjusted free cash flow year-to-date and ended the quarter with a net leverage ratio of 2.2 times, below its long-term target. APi Group Corp (NYSE:APG) completed strategic acquisitions, including Onyx-Fire and WTech, which are expected to enhance capabilities in key geographies and align with the company's culture and growth strategy. The Specialty Services segment outperformed expectations with 22% organic growth and a 60 basis point increase in segment earnings margin, driven by disciplined project selection and strong execution. The company initiated share repurchases under its $1 billion program, buying back approximately 1.6 million shares for $66 million during the quarter. International Safety segment was flat for the quarter, with organic growth only returning in the back half of the quarter, indicating ongoing challenges in that market. Adjusted EBITDA margin expansion was modest at only 10 basis points, impacted by the mix of robust project work, which typically carries lower gross margins than service work. The company faces foreign exchange headwinds, with approximately $30 million in net revenue and $5 million in adjusted EBITDA negatively impacted relative to prior guidance. Interest expense is expected to increase to $150 million for the full year, reflecting the incremental cost of the $500 million senior unsecured note issuance. The company noted that project durations are lengthening to 9-12 months on average, which could slow the conversion of backlog to revenue and impact near-term cash flow timing. APi Group Corp (NYSE:APG) acknowledged that the International Safety business still requires work to fully transition to a recurring revenue and inspection-first mindset, which may limit near-term growth potential. Q: Can you comment on the average size of projects, how it relates to available margins, and whether the mix of project work is an inhibitor to achieving long-term margin goals? A: Russ Becker, CEO: Project sizes are significantly larger, with fire protection jobs for data centers now consistently pushing $20 million versus $7-$8 million four or five years ago. We can price this complex work accordingly and achieve better gross margins, closing the typical 10-percentage-point gap between project and service margins. We remain on track to achieve our 16% long-term 2028 margin expansion objective. Q: What is the breakdown of growth between Safety Services and Specialty Services in the raised guidance? A: David Jackola, CFO: We continue to see solid strength in our North America Safety segment and a modest improvement in our International Safety segment. This is reflected in the guide, along with a continuation of the robust project and service growth in our Specialty Services segment into the back half of the year. Q: Backlog has surpassed $5 billion for the first time. Is 25% growth year-over-year the right way to think about it, and how should we think about conversion to revenue? A: Russ Becker, CEO: Yes, that math is correct, and the backlog growth is across every aspect of the business. The quality of the backlog is positive, and we should generate better gross margins from it than a year ago. However, average project duration has extended from 6-9 months to more like 9-12 months, so conversion will take longer. Q: Can you provide more detail on the strategic and cultural fit of the Onyx-Fire and WTech acquisitions, and how future acquisitions might fit this criteria? A: Russ Becker, CEO: Onyx-Fire's CEO, Bryan Chew, has been focused on inspection service first, similar to us, and increases our presence in the Canadian market. WTech, led by Ted Wright, is a strong fire suppression business in Western Europe that is complementary to our existing capabilities. We look for geography, services offered, financial profile, and most importantly, culture, values, and fit when evaluating acquisitions. Q: How much of Specialty Services' growth is price versus volume, and how meaningful is the ongoing maintenance piece for new builds in markets like data centers? A: Russ Becker, CEO: The lion's share of organic growth is coming from share and volume. Pricing is typically 4-5% escalation on MSA work. David Jackola, CFO: It's difficult to quantify service attachment, but much of the project work comes from existing customer relationships where we already do inspection work. The average inspection size of a large data center facility will far exceed our typical $1,000-$2,000 estimate. Q: What drove the 120 basis point gross margin expansion in Specialty Services, and will this momentum carry into the second half? A: David Jackola, CFO: The business will continue to expand gross margins year-over-year. The drivers include being highly disciplined about customers and projects, pointing field leaders at the highest dollar, highest margin activity, and significant improvement in the contract loss rate. Russ Becker, CEO: Project selection, customer selection, better execution, and pruning lower-performing MSAs have all contributed. Q: What percentage of data center contributed to growth in revenue and backlog, and how do you see this evolving given local opposition and CapEx concerns? A: David Jackola, CFO: Data centers were a contributor to growth, and maybe 15-20% of the increase in backlog came from data centers. We think data centers will be 10-12% of revenue in 2026. Russ Becker, CEO: The demand curve will far outweigh the capacity curve through 2030. We will remain disciplined in pursuing projects with high confidence, focusing on strategic regions like Central Iowa, Texas, and Wyoming. Q: What led to the flat growth in International Safety, and what would be a successful outcome as we exit 2026? A: Russ Becker, CEO: We expect to see organic growth on a year-over-year basis. Contributing factors include the macro environment, the conflict in the Middle East, project work slipping to the right, and intentional pruning of lower-performing customers. However, we're seeing positive momentum with new orders, a building project backlog, and our global account strategy taking root, pointing to a positive second half. Q: Given current trends are punching above the mid-single-digit organic growth target, how are you thinking about staying above this rate over the next 12-24 months? A: Russ Becker, CEO: We continue to guide our businesses toward high-single-digit growth in inspection, service, and monitoring and low-single-digit growth in projects. However, the robust project environment allows us to take advantage of better project organic growth, which is additive. We must remain super focused on project and customer selection, as we are a services-first business that does project work. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

-Record second quarter net revenues of $2.3 billion, representing year-over-year growth of 13.3%, 10.1% on an organic basis--Record second quarter reported net income of $99 million with year-over-year growth of 28.6%--Record second quarter adjusted EBITDA of $311 million with year-over-year growth of 14.3% and adjusted EBITDA margin expansion of 10 basis points to 13.8%--Raising full-year guidance for net revenues and adjusted EBITDA- NEW BRIGHTON, Minn., July 30, 2026--(BUSINESS WIRE)--APi Group Corporation (NYSE: APG) ("APi" or the "Company") today reported its financial results for the three and six months ended June 30, 2026. Russ Becker, APi’s President and Chief Executive Officer stated: "We continued building on our strong start to the year in the second quarter, delivering over 10% organic revenue growth and adjusted EBITDA margin expansion year over year. Our results reflect continued strength in inspection, service, and monitoring revenues, as well as robust project activity across both segments. Following a strong first half, we enter the second half with great momentum, supported by record backlog exceeding $5 billion and disciplined execution of our M&A strategy. We are confident in our leaders’ abilities to execute our strategic priorities and drive continued progress toward our 10/16/60+ financial targets." Second Quarter 2026 Consolidated Results: Reported net revenues increased by 13.3% (10.1% organic) driven by solid growth in inspection, service, and monitoring revenues, robust growth in project revenues, acquisitions, and pricing improvements. Reported gross margin increased by 30 basis points while adjusted gross margin was unchanged compared to the prior year period. Margins increased in both project and service revenues, driven by disciplined customer and project selection and pricing improvements, offset by project and business mix. Reported net income was $99 million and diluted EPS was $0.20. Adjusted net income was $195 million and adjusted diluted EPS was $0.44, representing a 12.8% increase compared to the prior year period. The increase in adjusted diluted EPS was driven by strong revenue growth and adjusted EBITDA margin expansion, partially offset by an increase in the adjusted diluted weighted average shares outstanding. Adjusted EBITDA increased by 14.3% (13.1% on a fixed currency basis) compared to the prior year period and adjusted EBITDA margin increased 10 basis points to 13.8%. Growth in adjusted EBITDA margin was driven by strong revenue growth resulting in favorable SG&A leverage. Second Quarter 2026 Safety Services Segment Results: Reported net revenues increased by 8.8% (4.7% organic) driven by solid growth in inspection, service, and monitoring revenues, growth in project revenues, acquisitions, pricing improvements, and impacts of foreign exchange translation. Reported and adjusted gross margin increased by 60 and 20 basis points, respectively, compared to the prior year period. This was driven by disciplined customer and project selection and pricing improvements, resulting in margin expansion in inspection, service, and monitoring revenues and project revenues, partially offset by mix. Reported segment earnings increased by 8.6% (7.7% on a fixed currency basis) compared to the prior year period. Segment earnings margin was unchanged compared to the prior year period, primarily driven by adjusted gross margin expansion, offset by increased SG&A expenses. Second Quarter 2026 Specialty Services Segment Results: Reported net revenues increased by 22.9% (22.0% organic) driven by robust growth in both project and service revenues. Reported and adjusted gross margin increased by 120 basis points compared to the prior year period driven by disciplined customer and project selection and pricing improvements, resulting in margin expansion in service and project revenues. Reported segment earnings increased by 29.6% compared to the prior year period. Segment earnings margin was 11.9%, representing a 60 basis point increase compared to the prior year period, driven by adjusted gross margin expansion, partially offset by SG&A expenses, including variable compensation expense. Guidance: APi increases its full-year 2026 guidance for net revenues and adjusted EBITDA. Net Revenues of $8,875 to $9,025 million, up from the guidance provided on July 2, 2026 of $8,660 to $8,860 million Adjusted EBITDA of $1,205 to $1,245 million, up from the guidance provided on July 2, 2026 of $1,177 to $1,237 million Adjusted Free Cash Flow Conversion of 115%, based on adjusted net income APi announces its guidance for the third quarter of 2026. Net Revenues of $2,375 to $2,425 million Adjusted EBITDA of $325 to $335 million Conference Call: APi will host a webcast and conference call to discuss its financial results at 8:30 a.m. ET on Thursday, July 30, 2026. Participants on the call will include Russell A. Becker, President and Chief Executive Officer, and David Jackola, EVP and Chief Financial Officer. The conference call can be accessed by registering online using the links below. Analysts will receive dial-in information as well as a conference ID once registered. Webcast Link: https://events.q4inc.com/attendee/781429281 Analysts Link: https://events.q4inc.com/analyst/781429281?pwd=2Kq4r26b A replay of the webcast will be available shortly after the live event via the webcast link above. About APi: APi Group is a global, market-leading business services company providing statutorily mandated and contracted services across its Safety Services and Specialty Services segments, including fire and life safety, electronic security, elevator and escalator, and infrastructure services. With more than 600 locations in over 20 countries, APi is built on a century of expertise, a people-first culture, and its purpose of Building Great Leaders®. In 2026, APi is celebrating its 100-year anniversary and its debut on the Fortune 500. More information is available at www.apigroup.com. Forward-Looking Statements and Disclaimers Please note that in this document the Company may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of APi Group Corporation ("APi" or the "Company"). Such discussion and statements may contain words such as "expect," "anticipate," "will," "believe," "intend," "plan," "estimate," "predict," "seek," "continue," "pro forma," "outlook," "may," "might," "should," "can have," "have," "likely," "potential," "target," "indicative," "illustrative," and variations of such words and similar expressions, and relate in this document, without limitation, to statements, beliefs, projections and expectations about future events. Such statements are based on the Company’s expectations, intentions, and projections regarding the Company’s future performance, anticipated events or trends and other matters that are not historical facts. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: (i) economic conditions, competition, political risks, and other risks that may affect the Company’s future performance, including the impacts of inflationary pressures and other macroeconomic factors on the Company’s business, markets, supply chain, customers and workforce, on the credit and financial markets, on the alignment of expenses and revenues and on the global economy generally; (ii) supply chain constraints and interruptions, and the resulting increases in the cost, or reductions in the supply, of the supplies and materials the Company uses in its business and for which the Company bears the risk of such increases; (iii) risks associated with the Company’s international operations, including changes in tariff and trade policies, import and export restrictions, retaliatory trade measures, sanctions, and other governmental actions that may affect the cost, timing, or viability of the Company's cross-border operations and supply chains; (iv) failure to realize the anticipated benefits of our acquisitions and our ability to successfully execute the Company’s bolt-on acquisition strategy to acquire other businesses and successfully integrate them into its operations; (v) failure to fully execute the Company’s inspection-first strategy or to realize the expected service revenue from such inspections; (vi) failure to realize expected benefits from the Company’s other business strategies, including the Company’s disciplined approach to customer and project selection and the Company’s asset-light, services-focused business model and its expected impact on future capital expenditures; (vii) risks associated with the Company’s decentralized business model and participation in joint ventures; (viii) improperly managed projects or project delays; (ix) risks associated with the implementation and maintenance of the Company's enterprise resource planning systems and cloud-based platforms, including potential disruptions to operations, cost overruns, delays, and impacts on internal controls over financial reporting; (x) adverse developments in the credit markets which could impact the Company’s ability to secure financing in the future; (xi) the Company’s level of indebtedness; (xii) risks associated with the Company’s contract portfolio; and (xiii) other risks and uncertainties, including those discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 under the heading "Risk Factors." Given these risks and uncertainties, investors are cautioned not to place undue reliance on forward-looking statements. Additional information concerning these risks, uncertainties and other factors that could cause actual results to vary is, or will be, included in the periodic and other reports filed by the Company with the Securities and Exchange Commission. Forward-looking statements included in this document speak only as of the date hereof and, except as required by applicable law, the Company does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or circumstances after the date of this document. Non-GAAP Financial Measures This document contains non-U.S. GAAP financial measures within the meaning of Regulation G. Management uses these measures to evaluate the Company's performance and believes they are useful to investors because they (a) reflect the same tools management uses to assess performance and prospects, (b) facilitate peer comparison, (c) provide consistent period-to-period comparisons, and (d) in the case of adjusted EBITDA, determine certain elements of executive incentive compensation. Adjusted gross profit, adjusted SG&A, adjusted net income, and adjusted diluted EPS exclude amortization of intangible assets, restructuring costs, contingent consideration and compensation, acquisition and divestiture related expenses, systems and business enablement expenses, business process transformation expenses, and other miscellaneous items, as further described in the reconciliation tables. These adjustments remove items management does not consider indicative of the Company's core ongoing operational performance. Adjusted EBITDA is net income before interest, taxes, depreciation, and amortization, further adjusted to exclude the same items listed above plus non-service pension cost. Adjusted EBITDA margin is adjusted EBITDA divided by net revenues. Organic net revenue growth excludes the impacts of material acquisitions, material divestitures, and foreign currency translation from year-over-year revenue comparisons. Fixed currency measures translate results at exchange rates established by management at the beginning of 2026. An acquisition or divestiture is considered material based on management's assessment of its significance to comparability; this threshold is applied consistently across periods. Adjusted free cash flow is cash provided by operating activities, adjusted for the cash impact of the same items excluded from adjusted EBITDA, less capital expenditures. Adjusted free cash flow conversion is adjusted free cash flow as a percentage of adjusted net income. Net leverage ratio is calculated in accordance with the Company’s debt agreements and includes pro forma adjustments for acquisitions and cost savings not reflected in adjusted EBITDA; see the Company’s SEC filings for the covenant EBITDA definition. These measures are supplemental and should not be considered a substitute for, or superior to, GAAP financial measures, and may differ from similarly titled measures used by other companies. Reconciliations to the most directly comparable GAAP measures are included in this document. The Company is unable to provide a quantitative reconciliation of forward-looking adjusted EBITDA, organic net revenue growth, and adjusted free cash flow conversion to GAAP without unreasonable effort, as the amounts and timing of reconciling items – including acquisition-related costs, systems and business enablement expenses, restructuring costs, and other charges – are inherently uncertain and could be significant. View source version on businesswire.com: https://www.businesswire.com/news/home/20260730768372/en/ Contacts Investor Relations and Media Inquiries: Adam WaltersSenior Director of Investor RelationsTel: +1 920-419-5432Email: [email protected]

APi (APG) came out with quarterly earnings of $0.44 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post earnings of $0.3 per share when it actually produced earnings of $0.32, delivering a surprise of +6.67%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. APi, which belongs to the Zacks Business - Services industry, posted revenues of $2.25 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.49%. This compares to year-ago revenues of $1.99 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. APi shares have added about 0.5% since the beginning of the year versus the S&P 500's gain of 6.9%. While APi has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for APi was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.47 on $2.25 billion in revenues for the coming quarter and $1.71 on $8.68 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Business - Services is currently in the bottom 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. AMN Healthcare Services (AMN), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6. This health care staffing company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of -26.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. AMN Healthcare Services' revenues are expected to be $626.01 million, down 4.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report APi Group Corporation (APG) : Free Stock Analysis Report AMN Healthcare Services Inc (AMN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research