NEW BRIGHTON, Minn. (AP) — NEW BRIGHTON, Minn. (AP) — APi Group Corporation (APG) on Wednesday reported fourth-quarter net income of $67 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New Brighton, Minnesota-based company said it had net loss of 10 cents. Earnings, adjusted for non-recurring costs, came to 51 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The company posted revenue of $1.86 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $1.84 billion.
For the year, the company reported net income of $250 million, or 84 cents per share, swinging to a profit in the period. Revenue was reported as $7.02 billion.
For the current quarter ending in March, APi said it expects revenue in the range of $1.63 billion to $1.68 billion.
The company expects full-year revenue in the range of $7.3 billion to $7.5 billion.
APi shares have climbed 12% since the beginning of the year. The stock has increased 12% in the last 12 months.
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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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