APi Group Corporation (APG) Earnings Call Transcripts

APi Group Corporation's Latest Earnings Call - June 3, 2026

In the Q1 2026 earnings call for APi Group Corporation, management reported revenue of $7.9 billion, achieving a 13.2% EBITDA margin, consistent with their previous guidance. The company maintained its mid-single-digit growth outlook for the full year, driven by high single-digit growth in inspection services and a robust project environment. Management reiterated their long-term target of reaching $10 billion in revenue with a 16% EBITDA margin by 2028, signaling confidence in their growth strategy despite tougher comps in the second half of the year.

Reported metrics

Guidance from management

Management maintained its mid-single-digit growth outlook for the full year, with high single-digit growth in inspection services and low single-digit growth in projects. They reiterated their long-term targets of $10 billion in revenue and a 16% EBITDA margin by 2028.

What management said

100%. That's -- we don't talk about this enough when we talk about our company and our business, but like a branch literally becomes bulletproof when the inspection service and monitoring business, when those departments, if you will, generate enough gross margin to cover the SG&A of the entire branch.

It becomes bulletproof because then the project work and the project opportunities that, that branch has, they can be even more selective. And then the gross margins on that project work when they're being more selective, expand. And they get better. And so then the profitability of the branch, overarching profitability of the branch expansion is better. It gets even better. And if you look at Adam's slide deck the...

What analysts pressed on

Analysts expressed concerns about the potential impact of tougher comps in the second half of the year on growth rates. Questions were raised regarding how management plans to sustain momentum in a potentially challenging environment.

Main topics on the call

• Revenue Growth Outlook — Management expects mid-single-digit growth for the full year, with high single-digit growth in inspection services and low single-digit growth in projects. CEO Russ Becker stated, "the project environment right now...is ...
• Inspection First Mindset — The company has adopted an 'inspection first' approach, which has proven effective in generating service work. Becker noted, "for every dollar of inspection revenue we generate, we're going to generate some place between...
• M&A Activity — Management expressed continued appetite for M&A, with recent acquisitions enhancing their capabilities. Becker mentioned, "we have a lot of bandwidth -- and we've got a lot of dry powder," indicating a strong balance she...
• Long-term Financial Targets — The company reiterated its target of $10 billion in revenue and a 16% EBITDA margin by 2028. Becker stated, "our goal is that every one of our branches will operate at 20%."

Read the full APi Group Corporation transcript (June 3, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 55 APi Group Corporation earnings call transcripts on record, spanning April 8, 2020 to July 30, 2026. Based on this history, APi Group Corporation reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

APG

Exchange

NYSE

Country

US

Sector

Industrials

Industry

Construction and Engineering

Calls on record

55

First call

April 8, 2020

Most recent

July 30, 2026

Reporting cadence

quarterly