APG Q4 net income hits USD 97 million, up 44.8%

Reuters
Feb 25
APG Q4 net income hits USD 97 million, up 44.8%

APi reported Q4 2025 net revenues of USD 2.1 billion, up 13.8%, and FY 2025 net revenues of USD 7.9 billion, up 12.7%. Q4 2025 net income was USD 97 million and adjusted EBITDA was USD 295 million, up 21.9%, with an adjusted EBITDA margin of 13.9%. For FY 2025, net income was USD 302 million and adjusted EBITDA was USD 1.0 billion, up 16.6%, with an adjusted EBITDA margin of 13.2%. Q4 adjusted diluted EPS was USD 0.44, up 29.4%, and FY adjusted diluted EPS was USD 1.48, up 20.3%; APi also reported GAAP diluted EPS of USD (1.19) in Q4 and USD (0.69) for FY. By segment in Q4 2025, Safety Services net revenues were USD 1.4 billion, up 10.6%, and Specialty Services net revenues were USD 695 million, up 20.7%; Safety Services segment earnings were USD 249 million, up 18.0%, and Specialty Services segment earnings were USD 83 million, up 40.7%. Management said 2025 results reflected growth in inspection, service and monitoring revenues, strong project revenue growth, acquisitions and pricing improvements, and noted a net leverage ratio of 1.6x at year-end. APi issued initial FY 2026 guidance for net revenues of USD 8.4 billion to USD 8.6 billion and adjusted EBITDA of USD 1.1 billion to USD 1.2 billion, and Q1 2026 guidance for net revenues of USD 1.9 billion to USD 2.0 billion and adjusted EBITDA of USD 225 million to USD 235 million.

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