APi Group Corp (NYSE: APG) shares jumped 5.74% in pre-market trading on Thursday following the release of its better-than-expected first quarter 2025 results and an upward revision to its full-year guidance.

The safety services and specialty services provider reported Q1 net revenues of $1.72 billion, up 7.4% year-over-year and surpassing analyst estimates of $1.65 billion. Adjusted EBITDA increased 10.3% to $193 million, with margins expanding 30 basis points to 11.2%. Adjusted earnings per share came in at $0.37, up from $0.34 in the same period last year and beating the consensus estimate of $0.36.

Russ Becker, APi's President and Chief Executive Officer, commented on the results: "We are off to a strong start in 2025, with a return to traditional levels of organic growth after our thoughtful and selective pruning of certain customer accounts in 2024. We've also continued to expand margins and deploy capital on M&A and share repurchases to drive shareholder value."

In light of the strong performance, APi Group raised its full-year 2025 guidance. The company now expects net revenues of $7.4 to $7.6 billion, up from its previous forecast of $7.3 to $7.5 billion. Adjusted EBITDA guidance was also increased to a range of $985 to $1,035 million, compared to the earlier projection of $970 to $1,020 million.

Adding to investor optimism, the company announced that its Board of Directors has authorized a new $1 billion share repurchase program, replacing the previous authorization announced last year. This move signals confidence in the company's financial position and commitment to returning value to shareholders.

APi Group also plans to unveil new, "meaningfully higher" long-term financial targets at its upcoming Investor Day on May 21, which could further boost investor sentiment in the coming weeks.

The pre-market surge in APi Group's stock price reflects investor enthusiasm for the company's strong quarterly performance, improved outlook, and shareholder-friendly initiatives. As the market opens, investors will be watching closely to see if this positive momentum can be sustained.