Earnings Releases·Oct 29, 2026, 8:17 AM ET

APi Group — Third Quarter 2026 Earnings Summary

Reported record Q3 net revenues of $2.6 billion (up 22.5% YoY) and adjusted net income of $219 million (up 25.9% YoY), driven by strong organic growth of 15.7% and margin expansion in Specialty Services.
Raised full-year 2026 guidance to $9.200–$9.250 billion in net revenue and $1.235–$1.255 billion in adjusted EBITDA, citing a growing backlog and improved margins entering Q4.
Completed $1.4 billion in acquisitions and repurchased $252 million of common stock during the first nine months, while maintaining an adjusted free cash flow conversion target of 110% for the full year.
Gross profit margins contracted 120 basis points due to unfavorable project mix and rising material/fuel costs, though management remains confident in delivering long-term "10/16/60+" targets.