APi Group Corp SEC 10-Q Report

APi Group Corp, a leading provider of safety, specialty, and industrial services, has released its Form 10-Q report for the third quarter of 2025. The report highlights significant financial growth and operational achievements, underscoring the company's strategic execution and market expansion efforts.

Financial Highlights

APi Group Corp reported robust financial performance for the third quarter of 2025, showcasing significant year-over-year growth across key metrics:

• Net Revenues: $2,085 million, reflecting a year-over-year increase driven by growth in both Safety Services and Specialty Services segments.
• Gross Profit: $652 million, indicating improved cost management and operational efficiency.
• Operating Income: $163 million, showcasing a strong performance with a focus on cost control and margin improvement.
• Net Income: $93 million, up from $69 million in the prior year, highlighting effective financial management and strategic execution.
• Net Income Per Common Share - Basic: $0.20, demonstrating an increase in shareholder value compared to the previous year.
• Net Income Per Common Share - Diluted: $0.20, consistent with the basic earnings per share, reflecting stable financial performance.

Business Highlights

The company's operational performance in the third quarter of 2025 was marked by significant achievements and strategic initiatives:

• Revenue Segments: The Safety Services segment generated $1,403 million in revenue for the three months ended September 30, 2025, with significant contributions from Life Safety services. The Specialty Services segment contributed $683 million, with notable performance in Infrastructure/Utility and Specialty Contracting services.
• Geographical Performance: The United States remains a key market, contributing $1,397 million in revenue for the three months ended September 30, 2025. France and other regions also showed strong performance, with revenues of $170 million and $518 million, respectively.
• Segment Realignment: In January 2025, the company realigned its segments by moving the HVAC business from Safety Services to Specialty Services, reflecting a strategic shift to better align with operational synergies.
• Future Outlook: The company expects to recognize revenue on approximately 74% of the remaining performance obligations over the next twelve months, indicating a strong pipeline of contracted work.
• Operational Efficiency: The Chubb restructuring program, aimed at driving efficiencies and optimizing operating margins, concluded in the second quarter of 2025, with no additional expenses expected.
• Acquisition Strategy: During the nine months ended September 30, 2025, the company completed eleven acquisitions, enhancing its portfolio and expanding its market presence, particularly in the Safety Services segment.
• Goodwill and Intangibles: The company reported an increase in goodwill, primarily attributed to recent acquisitions, with a total goodwill balance of $3,150 million as of September 30, 2025.
• Contract Assets and Liabilities: As of September 30, 2025, contract assets and liabilities were $577 million and $672 million, respectively, reflecting ongoing project activities and billing cycles.

SEC Filing: APi Group Corp [ APG ] - 10-Q - Oct. 30, 2025