Shares of APi Group Corp (APG) surged 7.01% in pre-market trading on Thursday after the company reported better-than-expected first quarter results and raised its full-year outlook.
The safety services and specialty services provider posted adjusted earnings per share of $0.37, topping the analyst consensus estimate of $0.36. Revenue for the quarter came in at $1.72 billion, beating expectations of $1.65 billion and representing a 7.4% year-over-year increase.
APi Group's CEO Russ Becker noted the company's "strong start in 2025" and highlighted the return to traditional levels of organic growth. The company raised its full-year 2025 guidance, now expecting revenue between $7.4 billion to $7.6 billion and adjusted EBITDA of $985 million to $1.035 billion.
Adding to investor optimism, APi Group announced a new $1 billion share repurchase program, further boosting shareholder value. The company also plans to unveil new, "meaningfully higher" long-term financial targets at its upcoming Investor Day on May 21, which could drive additional investor interest in the coming weeks.