APi Group Corp. reported record‑setting results for the fourth quarter of 2025, with net revenues of $2.12 billion—up 14% year‑over‑year—and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $295 million, a 21.9% increase from the same period last year. Adjusted EBITDA margin expanded to 13.9%, and adjusted diluted earnings per share (EPS) of $0.44 beat the consensus estimate of $0.42, a $0.02, or 4.8%, upside.
For the full year 2025, APi Group generated $7.9 billion in net revenues, a 12.7% increase from 2024, and adjusted EBITDA of $1.041 billion, with a margin of 13.2%. The company’s EPS for the year was not disclosed, but the year‑over‑year growth in revenue and margin indicates continued operational strength.
Revenue growth was driven by robust demand in the company’s Safety Services and Specialty Services segments, supported by disciplined customer selection, pricing improvements, and better leverage of fixed overhead costs. These factors also contributed to the expansion of adjusted EBITDA margins, reflecting higher‑margin service mix and efficient cost management.
APi Group raised its 2026 outlook, now projecting full‑year net revenues of $8.4 billion to $8.6 billion and adjusted EBITDA of $1.14 billion to $1.20 billion—an upward revision that signals management’s confidence in sustained demand and margin expansion.
Russ Becker, APi’s President and CEO, said, “Our record results in 2025 once again demonstrate the strength of our recurring‑revenue, services‑focused business model and the ongoing execution of our strategy by our teammates. We begin 2026 with positive momentum and strong demand for our services across our global platform.”
The company’s shares rose about 1.7% in pre‑market trading following the announcement, reflecting investor approval of the earnings beat and the optimistic 2026 guidance.
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