APi Group raises 2026 revenue and profit guidance after third-quarter beat

The company now expects adjusted EBITDA of $1.235 billion to $1.255 billion for the year.

APi Group has raised its full-year 2026 revenue outlook after beating expectations in the third quarter. The company now expects net revenue of $9.20 billion to $9.25 billion. Its previous range was $8.875 billion to $9.025 billion.

Third-quarter revenue was $2.55 billion, against $2.43 billion expected. Earnings per share were $0.50, $0.03 above expectations. Russ Becker, president and chief executive, said strong demand across inspection, service and monitoring, robust project activity and disciplined execution drove the quarter, with growing backlog and improving margins supporting confidence heading into 2027.

APi also raised its adjusted EBITDA range to $1.235 billion to $1.255 billion, from $1.205 billion to $1.245 billion. EBITDA is earnings before interest, tax, depreciation and amortisation, a measure of operating profit. The company expects adjusted free cash flow conversion of 110 per cent of adjusted net income for the year. That means it expects free cash generated to be about 110 per cent of the adjusted profit it reports.

The revenue beat came with a higher full-year revenue range, so the upgrade reads as the company carrying third-quarter strength through the year, not only reporting one period. The EBITDA range moved up as well, so the revision covers profit and not just sales. The 110 per cent cash expectation gives investors a measure to check those earnings against. Becker's reference to backlog and confidence heading into 2027 suggests the company sees demand running beyond this year.