APi Group expects 2025 results above guidance, provides 2026 outlook

APi Group Corporation (NYSE: APG) announced that its 2025 financial results will exceed the midpoint of previously issued guidance, according to a company statement.

The business services provider expects 2025 net revenues and adjusted EBITDA to surpass the midpoint of its October guidance range of $7,825 to $7,925 million for revenues and $1,015 to $1,045 million for adjusted EBITDA. The company anticipates adjusted EBITDA margins above its 13% target and adjusted free cash flow conversion in line with its 80% target.

For 2026, APi Group provided initial guidance projecting net revenues between $8,400 to $8,600 million, driven by organic growth in service and project revenues. The company expects 2026 adjusted EBITDA of $1,140 to $1,200 million, representing a 13.8% margin at the midpoint.

"We expect net revenues and adjusted EBITDA for 2025 to be comfortably above the midpoint of our guidance," said Russ Becker, APi's President and Chief Executive Officer. The company expects to end 2025 with a net leverage ratio below 2.0x, under its target range of 2.5 to 3.0x.

APi Group operates fire and life safety, security, elevator and escalator, and specialty services across more than 500 locations worldwide. The company will report detailed 2025 results and discuss 2026 outlook during its earnings call scheduled for February 25, 2026.

The financial estimates remain preliminary and unaudited, subject to completion of year-end accounting procedures and potential adjustments.

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