I am changing my rating for APi Group (APG) to hold because of unclear short-term performance, low organic growth, and economic uncertainties affecting the outlook for FY25. Although there was strong adjusted EBITDA growth in the fourth quarter of 2024 and a good backlog, APG's organic growth is still weak, especially in the Specialty Services area. While the shift to high-margin ISM revenue is a good sign, worries about short-term growth and possible economic risks may put pressure on the stock.
The initial results from Phase 1 of the APG990 trial, which is a new OX40L antibody with an extended half-life, surpassed the goals set for the study. It showed a half-life of about 60 days.
APi Group Corporation (NYSE:APG) will hold its Q4 2024 Earnings Conference Call on February 26, 2025, at 8:30 AM ET. The call will feature company representatives, including Adam Fee, Russell Becker, and David Jackola, along with analysts from various financial institutions. Attendees will be in listen-only mode until the Q&A portion begins.
NEW BRIGHTON, Minn.--(BUSINESS WIRE)--APi Group Corporation (NYSE: APG) announced its financial performance for the last quarter and the entire year ending December 31, 2024. Russ Becker, the President and CEO of APi, mentioned that their impressive results in 2024 highlight the effectiveness of their recurring revenue and service-oriented business model, as well as the hard work of their team. As they enter 2025, they are experiencing positive momentum and strong demand.
ATLANTA--(BUSINESS WIRE)--Oldcastle APG, the top provider of outdoor living solutions in North America, will showcase its newest products at the 2025 NAHB International Builders' Show in Las Vegas, Nevada, from February 25 to 27. The company will present its full range of outdoor living brands, helping homeowners and builders create stunning outdoor areas for customers to enjoy living outside.
NEW BRIGHTON, Minn.--(BUSINESS WIRE)--APi Group Corporation (NYSE: APG) has shared an update on its financial results for the end of 2024, along with projections for net revenue and adjusted EBITDA for 2025. The company also revealed that it has successfully repriced its Term Loan, which is due in 2029. Additionally, APi will be attending two investor conferences where these topics may be discussed.
NEW BRIGHTON, Minn.--(BUSINESS WIRE)--APi Group Corporation (NYSE: APG) has announced that it plans to share its financial results for the last three months and the entire year ending December 31, 2024, before the market opens on Wednesday, February 26, 2025. They will also host a conference call to discuss these results at 8:30 a.m. (Eastern Time) on the same day, with Russell A. Becker participating in the call.
Enrollment for Part A of the trial finished earlier than expected and exceeded the goal with 123 patients signed up. The 16-week proof-of-concept results for Part A are expected in mid-2025. Additionally, the first patient has been treated in Part B of the Phase 2 APEX clinical trial for APG777, which targets moderate-to-severe atopic dermatitis.
ATLANTA--(BUSINESS WIRE)--Oldcastle® APG, part of CRH, has introduced Catalyst™ Fence Solutions, which is its main brand for fencing products.
I maintain a buy rating for APG because of its strong potential for market share, growth acceleration, and expected increase in adjusted EBITDA margins for FY25 and later. The company shows solid demand with a $3.5 billion backlog, strong end markets, and a promising pipeline for mergers and acquisitions, which supports high-single-digit growth. Although there has been a revision in revenue guidance for FY24 due to temporary project delays, this positions FY25 for stronger growth with encouraging trends in proposal activity.