APi: Q1 Earnings Snapshot

NEW BRIGHTON, Minn. (AP) — NEW BRIGHTON, Minn. (AP) — APi Group Corporation (APG) on Thursday reported first-quarter net income of $45 million.

On a per-share basis, the New Brighton, Minnesota-based company said it had net loss of $1.34. Earnings, adjusted for non-recurring costs, came to 34 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The company posted revenue of $1.6 billion in the period.

For the current quarter ending in June, APi said it expects revenue in the range of $1.75 billion to $1.8 billion.

The company expects full-year revenue in the range of $7.05 billion to $7.25 billion.

APi shares have risen slightly more than 9% since the beginning of the year. The stock has climbed 67% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APG at https://www.zacks.com/ap/APG

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