APi Group Corp's stock price plummeted 5.08% in intraday trading on Wednesday, February 26, 2025, following the release of the company's fourth quarter and full year 2024 financial results.

The key factors that contributed to the stock's decline are:

• The company reported a quarterly net loss of $28 million or $0.10 per diluted share, compared to a net income of $25 million or $0.44 per diluted share in the same quarter last year.
• Although revenues increased by 5.8% year-over-year to $1.86 billion, beating estimates, the company's adjusted EBITDA margin of 13% for the quarter fell short of expectations.
• APi Group's Specialty Services segment saw a significant 11.8% decline in revenues and a 22% drop in segment earnings due to divestitures, project delays, and a decline in service revenues.
• The company provided a cautious outlook for 2025, with projected revenues of $7.3 to $7.5 billion and adjusted EBITDA of $970 to $1.02 billion, reflecting ongoing challenges in the Specialty Services segment.

Despite the disappointing results, APi Group's Safety Services segment, which accounts for the majority of its business, continued to perform well with a 13% increase in revenues and a 18.5% increase in segment earnings. The segment's growth was driven by acquisitions, strong growth in inspection, service, and monitoring revenues, and pricing improvements.

According to Russ Becker, APi's President and CEO, the company remains focused on growing its recurring revenue streams and expanding margins through disciplined customer and project selection, pricing improvements, and value capture initiatives, particularly in the Safety Services segment.