APi Group reports Q3 2026 results

Item 2.02 Results of Operations and Financial Condition.

On October 29, 2026, APi Group Corporation (the "Company") issued a press release announcing its financial results for the fiscal quarter ended September 30, 2026.¹ A copy of the press release is furnished as Exhibit 99.1.²

The information furnished under this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934³, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in any such filing, unless the Company expressly sets forth in such filing that such information is to be considered "filed" or incorporated by reference therein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are included with this report:

Exhibit No.

Description

99.1⁴

Press Release Issued by APi Group Corporation on October 29 , 2026.⁴

104⁴

Cover Page Interactive Data File (embedded within the Inline XBRL document)⁴

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

APi Group Corporation

Date: October 29, 2026

By:

/s/ Glenn David Jackola⁵

Glenn David Jackola⁵

Executive Vice President and Chief Financial Officer⁵

APi Group Reports Record Third Quarter 2026 Financial Results and Raises Full-Year 2026 Outlook

-Record third quarter net revenues of $2.6 billion, representing year-over-year growth of 22.5%, 15.7% on an organic basis-

-Record third quarter reported net income of $114 million up 22.6% year-over-year-

-Record third quarter adjusted EBITDA of $350 million with year-over-year growth of 24.6% and adjusted EBITDA margin expansion of 20 basis points to 13.7%-

-Raising full-year guidance for net revenues and adjusted EBITDA¹¹-

New Brighton, Minnesota – October 29, 2026 – APi Group Corporation (NYSE: APG) ("APi" or the "Company") today reported its financial results for the three and nine months ended September 30, 2026.

Russ Becker, APi's President and Chief Executive Officer, stated: "We delivered exceptional third quarter results, including double digit organic growth and adjusted EBITDA margin expansion. This performance again demonstrates the durability of our business in a dynamic operating environment. Strong demand across our inspection, service, and monitoring business, robust project activity, and disciplined execution drove momentum across both segments. We enter the fourth quarter from a position of strength, supported by a growing backlog and improving margins and we remain focused on leading with inspection and service. I am proud of our leaders for delivering another strong quarter. The strength we are carrying into 2027 gives me continued confidence in our ability to deliver on our long-term "10/16/60+" targets."

Third Quarter 2026 Consolidated Results:

Three Months Ended September 30,

Organic net revenue growth (a) 15.7 %⁶

GAAP

Adjusted non-GAAP comparison

Notes: Amounts in millions, except per share data. Refer to non-GAAP reconciliations to the most comparable GAAP measures.

(a) Organic change in net revenues provides a consistent basis for a year-over-year comparison in net revenues as it excludes the impacts of material acquisitions, material divestitures, and the impact of changes due to foreign currency translation.

• Reported net revenues increased by 22.5% (15.7% organic) driven by solid growth in inspection, service, and monitoring revenues, robust growth in project revenues, acquisitions, and pricing improvements.

• Reported and adjusted gross profit margin decreased by 120 basis points compared to the prior-year period driven by project and business mix and rising material, fuel, and other expenses.

• Reported net income was $114 million and diluted EPS was $0.24. Adjusted net income was $219⁹ million and adjusted diluted EPS was $0.50, representing a 22.0% increase compared to the prior-year period. The increase in adjusted diluted EPS was driven by strong revenue growth and adjusted EBITDA margin expansion, partially offset by increases in interest expense and the adjusted diluted weighted average shares outstanding.

• Adjusted EBITDA increased by 24.6% compared to the prior-year period and adjusted EBITDA margin increased 20 basis points to 13.7%. Growth in adjusted EBITDA margin was driven by strong revenue growth and the resulting favorable SG&A leverage, partially offset by factors impacting adjusted gross profit margin.

Third Quarter 2026 Safety Services Segment Results:

Three Months Ended September 30,

2026 2025 Y/Y

Safety Services

Net revenues $ 1,662 $ 1,403 18.5 %¹⁰

Organic net revenue growth (a) 8.8 %¹⁰

GAAP

Adjusted non-GAAP comparison

Notes: Amounts in millions. Refer to non-GAAP reconciliations to the most comparable GAAP measures.

(a) Organic change in net revenues provides a consistent basis for a year-over-year comparison in net revenues as it excludes the impacts of material acquisitions, material divestitures, and the impact of changes due to foreign currency translation.

• Reported net revenues increased by 18.5% (8.8% organic) driven by solid growth in both inspection, service, and monitoring revenues and project revenues, acquisitions, and pricing improvements.

• Reported and adjusted gross profit margin decreased by 120 and 110 basis points, respectively, compared to the prior-year period. This was driven by project and business mix and rising material, fuel, and other expenses.

• Reported segment earnings increased by 19.1% compared to the prior-year period. Segment earnings margin was 16.9%, representing a 10 basis point increase compared to the prior-year period, driven by strong revenue growth and favorable SG&A leverage, partially offset by factors impacting adjusted gross profit margin.

2

Third Quarter 2026 Specialty Services Segment Results:

Three Months Ended September 30,

2026