APG

EX-99.1

2 apg-20260930xexx991.htm

EX-99.1

Document

Exhibit 99.1

APi Group Reports Record Third Quarter 2026 Financial Results and Raises Full-Year 2026 Outlook

-Record third quarter net revenues of $2.6 billion, representing year-over-year growth of 22.5%, 15.7% on an organic basis-

-Record third quarter reported net income of $114 million up 22.6% year-over-year-

-Record third quarter adjusted EBITDA of $350 million with year-over-year growth of 24.6% and adjusted EBITDA margin expansion of 20 basis points to 13.7%-

-Raising full-year guidance for net revenues and adjusted EBITDA-

New Brighton, Minnesota – October 29, 2026 – APi Group Corporation (NYSE: APG) (“APi” or the “Company”) today reported its financial results for the three and nine months ended September 30, 2026.

Russ Becker, APi’s President and Chief Executive Officer, stated: “We delivered exceptional third quarter results, including double digit organic growth and adjusted EBITDA margin expansion. This performance again demonstrates the durability of our business in a dynamic operating environment. Strong demand across our inspection, service, and monitoring business, robust project activity, and disciplined execution drove momentum across both segments. We enter the fourth quarter from a position of strength, supported by a growing backlog and improving margins and we remain focused on leading with inspection and service. I am proud of our leaders for delivering another strong quarter. The strength we are carrying into 2027 gives me continued confidence in our ability to deliver on our long-term "10/16/60+" targets."

Third Quarter 2026 Consolidated Results:

Three Months Ended September 30,

20262025Y/Y

Net revenues$2,554 $2,085 22.5 %

Organic net revenue growth (a) 15.7 %

GAAP

Gross profit$770 $652 18.1 %

Gross profit margin30.1 %31.3 %(120) bps

Net income$114 $93 22.6 %

Diluted EPS$0.24 $0.20 20.0 %

Adjusted non-GAAP comparison

Adjusted gross profit$775 $656 18.1 %

Adjusted gross profit margin30.3 %31.5 %(120) bps

Adjusted EBITDA$350 $281 24.6 %

Adjusted EBITDA margin13.7 %13.5 %+20 bps

Adjusted net income$219 $174 25.9 %

Adjusted diluted EPS$0.50 $0.41 22.0 %

Notes: Amounts in millions, except per share data. Refer to non-GAAP reconciliations to the most comparable GAAP measures.

(a)Organic change in net revenues provides a consistent basis for a year-over-year comparison in net revenues as it excludes the impacts of material acquisitions, material divestitures, and the impact of changes due to foreign currency translation.

•Reported net revenues increased by 22.5% (15.7% organic) driven by solid growth in inspection, service, and monitoring revenues, robust growth in project revenues, acquisitions, and pricing improvements.

•Reported and adjusted gross profit margin decreased by 120 basis points compared to the prior-year period driven by project and business mix and rising material, fuel, and other expenses.

•Reported net income was $114 million and diluted EPS was $0.24. Adjusted net income was $219 million and adjusted diluted EPS was $0.50, representing a 22.0% increase compared to the prior-year period. The increase in adjusted diluted EPS was driven by strong revenue growth and adjusted EBITDA margin expansion, partially offset by increases in interest expense and the adjusted diluted weighted average shares outstanding.

•Adjusted EBITDA increased by 24.6% compared to the prior-year period and adjusted EBITDA margin increased 20 basis points to 13.7%. Growth in adjusted EBITDA margin was driven by strong revenue growth and the resulting favorable SG&A leverage, partially offset by factors impacting adjusted gross profit margin.

Third Quarter 2026 Safety Services Segment Results:

Three Months Ended September 30,

20262025Y/Y

Safety Services

Net revenues$1,662 $1,403 18.5 %

Organic net revenue growth (a) 8.8 %

GAAP

Gross profit$597 $520 14.8 %

Gross profit margin35.9 %37.1 %(120) bps

Segment earnings$281 $236 19.1 %

Segment earnings margin16.9 %16.8 %+10 bps

Adjusted non-GAAP comparison

Adjusted gross profit$602 $524 14.9 %

Adjusted gross profit margin36.2 %37.3 %(110) bps

Notes: Amounts in millions. Refer to non-GAAP reconciliations to the most comparable GAAP measures.

(a)Organic change in net revenues provides a consistent basis for a year-over-year comparison in net revenues as it excludes the impacts of material acquisitions, material divestitures, and the impact of changes due to foreign currency translation.

•Reported net revenues increased by 18.5% (8.8% organic) driven by solid growth in both inspection, service, and monitoring revenues and project revenues, acquisitions, and pricing improvements.

•Reported and adjusted gross profit margin decreased by 120 and 110 basis points, respectively, compared to the prior-year period. This was driven by project and business mix and rising material, fuel, and other expenses.

•Reported segment earnings increased by 19.1% compared to the p

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