NEW BRIGHTON, Minn. (AP) — NEW BRIGHTON, Minn. (AP) — APi Group Corporation (APG) on Thursday reported first-quarter net income of $35 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 income of 11 cents. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The company posted revenue of $1.72 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $1.65 billion.
For the current quarter ending in June, APi said it expects revenue in the range of $1.88 billion to $1.93 billion.
The company expects full-year revenue in the range of $7.4 billion to $7.6 billion.
APi shares have climbed 5% since the beginning of the year. The stock has dropped almost 2% 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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