Thu, Oct 31, 5:18 PM (63 days ago)
**APi Group Corporation (APG) Q3 2024 Summary:** For the third quarter ended September 30, 2024, APi Group reported revenues of $1,826 million, a 2.4% increase from $1,784 million in Q3 2023. The growth was attributed to acquisitions and increased service revenues, despite project delays and a prior divestiture. Gross profit rose 11.0% to $567 million, with a gross margin of 31.1%, reflecting improved project selection and cost management. Operating income surged 36.5% to $142 million, while net income reached $69 million, a 27.8% increase. SG&A expenses increased by 4.4% to $425 million, driven by acquisition-related costs. EBITDA for the quarter was $218 million, up 16.0% from the prior year. The company’s cash flow from operations was robust at $337 million, supported by lower working capital needs. However, investing activities reflected significant outflows of $680 million, primarily due to acquisitions. Financing activities generated $348 million, bolstered by equity offerings and debt refinancing. Despite challenges, APG remains focused on strategic growth through acquisitions and operational efficiencies, positioning itself for continued stability and profitability.