Filing Flows › APi Group (APG) › Q1 2026
APi Group (APG) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
APi Group (APG) reported revenue of $2.0B for the first quarter 2026 (Q1 2026), +15% from a year earlier and -6% from the quarter before. Operating margin was 5.2%, net earnings $57.0M (2.9% of revenue).
APi Group, Q1 2026: revenue $2.0B (+15% year over year), operating margin 5.2%, net earnings $57.0M, operating cash flow $85.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.0B | -6% | +15% |
| Gross profit | $620M | -9% | +14% |
| Operating profit | $103M | -37% | +23% |
| Net earnings | $57.0M | -41% | +63% |
| Operating cash flow | $85.0M | -78% | +37% |
| Free cash flow | $67.0M | -81% | +34% |
What changed
Revenue was $2.0B in Q1 2026, up 15% year over year and down 6% from the previous quarter. Life Safety was the largest line at 71% of revenue. Life Safety added $0.15B year over year (up 12%), 56% of the total change.
Gross margin was 31.3%, down 0.2 points from Q1 2025. Operating profit was $0.10B, a 5.2% margin (up 0.3 points year over year). Of the extra revenue versus Q1 2025, 7% reached operating profit, above the 5% margin then. Operating expenses grew 13% against revenue growth of 15%. Net earnings were $0.06B, up 63% year over year. The effective tax rate was 19.7%.
Operating cash flow was $0.09B (up 37% year over year), 149% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.02B left free cash flow of $0.07B.
Questions
What was APi Group's revenue in the first quarter 2026?
APi Group (APG) reported revenue of $2.0B for the first quarter 2026 (Q1 2026), +15% from a year earlier and -6% from the quarter before.
Was APi Group profitable in the first quarter 2026?
Operating profit was $103M (5.2% of revenue) and net earnings $57.0M.
Source: APi Group 10-Q on SEC EDGAR.