The raise in full-year guidance and record backlog signal strong momentum; traders should watch Q3 guidance execution and margin expansion, particularly in the Safety Services segment, and monitor M&A integration progress.
Price Chart
Executive Summary
APi Group reported record Q2 2026 results with net revenues of $2.254B (+13.3% YoY, +10.1% organic) and adjusted diluted EPS of $0.44, beating consensus estimates of $0.43 on both revenue and EPS. The company raised its full-year guidance for net revenues and adjusted EBITDA for the second consecutive quarter, citing strong inspection/service/monitoring revenue and record backlog exceeding $5B.
Key Financial Metrics
Key Facts
- Record Q2 net revenues of $2.254B, up 13.3% YoY (10.1% organic)
- Adjusted diluted EPS of $0.44 vs consensus $0.43 (+2.3% beat)
- Adjusted EBITDA of $311M, up 14.3% YoY, margin expanded 10bps to 13.8%
- Full-year 2026 guidance raised: net revenues $8,875M-$9,025M, adjusted EBITDA $1,205M-$1,245M
- Record backlog exceeding $5B entering second half of 2026
Financial Impact
Revenue beat by ~$54M vs consensus; EPS beat by $0.01; guidance raise implies ~$200M incremental revenue at midpoint
Risk Factors
- Integration risk from $1B+ of recent acquisitions (CertaSite, Wtech, Onyx)
- Total debt increased to $3.5B from $2.8B; leverage may constrain capital return
- Macro headwinds and tariff/trade policy could impact Specialty Services project activity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-050806 |
| Document: apg-20260730.htm | 0001628280-26-050806 |
| Document: 0001628280-26-050806-index-headers.html | 0001628280-26-050806 |
| Document: 0001628280-26-050806-index.html | 0001628280-26-050806 |
| Document: 0001628280-26-050806.txt | 0001628280-26-050806 |
| 8-K Data (Synthetic) | 0001628280-26-050806 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 11w ago | Insider Cluster | $41.25 $41.72 | ▲ +1.14% | ▲ +0.53% | $40.27 (−2.38%) |
Aug 3, 2026 12w ago | 144 | $41.54 $41.78 | ▼ −0.58% | ▼ −0.78% | $40.27 (+3.06%) |
Jul 30, 2026 12w ago | 8-K | $39.20 $39.68 | ▲ +1.22% | ▲ +0.52% | $40.27 (+2.73%) |
Jul 2, 2026 16w ago | 8-K | $41.98 $42.83 | ▲ +2.02% | ▲ +1.15% | $40.27 (−4.07%) |
Jun 11, 2026 19w ago | Institutional Cluster | $42.66 $42.34 | ▼ −0.75% | ▼ −1.29% | $40.27 (−5.60%) |
Jun 9, 2026 19w ago | 8-K | $43.68 $41.36 | ▼ −5.31% | ▼ −3.73% | $40.27 (−7.81%) |
May 4, 2026 25w ago | Insider Cluster | $44.67 $45.59 | ▲ +2.06% | ▲ +1.26% | $40.27 (−9.85%) |
Apr 30, 2026 25w ago | S-3ASR | $45.72 $45.94 | ▲ +0.48% | ▲ +0.26% | $40.27 (−11.92%) |
Apr 30, 2026 25w ago | 8-K | $45.72 $45.94 | ▲ +0.48% | ▲ +0.26% | $40.27 (−11.92%) |
Apr 3, 2026 29w ago | DEFA14A | $42.21 $41.94 | ▼ −0.64% | ▼ −0.70% | $40.27 (−4.60%) |
US Market Status
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