APi Group Corporation announced it expects 2025 net revenues and adjusted EBITDA to be comfortably above the midpoint of prior guidance and provided initial 2026 guidance with net revenues of $8,400 to $8,600 million and adjusted EBITDA of $1,140 to $1,200 million.
Key takeaways
2025 net revenues expected to be above the midpoint of the $7,825 to $7,925 million guidance range.
2025 adjusted EBITDA expected to be above the midpoint of the $1,015 to $1,045 million guidance range.
2025 adjusted EBITDA margins expected to exceed the 13% target with adjusted free cash flow conversion in line with the 80% target.
Expected to end 2025 with a net leverage ratio significantly below 2.0x, under the target of 2.5 – 3.0x.
Initiated 2026 net revenue guidance of $8,400 to $8,600 million.
Initiated 2026 adjusted EBITDA guidance of $1,140 to $1,200 million, representing a 13.8% margin at the midpoint.