APi Group reported $2.254 billion in second-quarter 2026 revenue, up 13.3% year over year and 10.1% organically. Its GAAP net income was $99 million, while adjusted EBITDA—a non-GAAP measure—was $311 million. A StockStory roundup published October 8 said its tracked group of 11 companies beat revenue consensus by 3.6% in aggregate, but share prices averaged a 7.9% decline after the latest reports. Those are roundup-level calculations, not results reported by APi.
APi Group’s Q2 2026 results
APi Group Corporation reported results for the three months ended June 30, 2026, on July 30. Revenue was $2.254 billion, compared with $1.990 billion a year earlier. The company reported 13.3% growth, including 10.1% organic growth. APi defines organic growth by excluding the effects of material acquisitions, divestitures, and foreign-currency translation. APi Group’s investor-relations release provides the company’s reported results.
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| Measure | Q2 2026 | Q2 2025 | Change or context |
|---|---|---|---|
| Revenue | $2.254 billion | $1.990 billion | Up 13.3% reported; 10.1% organic growth |
| GAAP gross profit | $703 million | Not stated here | GAAP gross margin was 31.2%, versus 30.9% |
| GAAP net income | $99 million | $77 million | GAAP result |
| Diluted EPS | $0.20 | $0.16 | GAAP earnings per diluted share |
| Adjusted EBITDA | $311 million | $272 million | Up 14.3%; non-GAAP measure |
| Adjusted EBITDA margin | 13.8% | 13.7% | Non-GAAP measure |
| Adjusted net income | $195 million | Not stated here | Non-GAAP measure |
| Adjusted diluted EPS | $0.44 | Not stated here | Non-GAAP measure |
GAAP net income and diluted EPS are the company’s results under generally accepted accounting principles. Adjusted EBITDA, adjusted net income, and adjusted EPS are supplemental non-GAAP measures, not substitutes for GAAP results. APi says adjusted EBITDA excludes specified items and cautions that its supplemental measures may not be comparable with similarly titled measures used by other companies.
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Specialty Services grew faster than Safety Services in the quarter, both in reported revenue and in organic revenue. The segments also had different earnings margins, so the company-wide growth rate combines businesses with distinct profiles.
#1 Best Overall
| Q2 2026 segment measure | Safety Services | Specialty Services |
|---|---|---|
| Revenue | $1.482 billion | $773 million |
| Reported revenue growth | 8.8% | 22.9% |
| Organic revenue growth | 4.7% | 22.0% |
| Segment earnings | $252 million; up 8.6% | $92 million; up 29.6% |
| Segment earnings margin | 17.0%; flat year over year | 11.9%; up 60 basis points year over year |
Organic growth excludes the effects of material acquisitions, divestitures, and currency translation. Reported growth reflects the revenue change as recorded, so it can differ from organic growth.
What APi’s 2026 outlook says—and does not say
APi raised its full-year revenue and adjusted EBITDA outlook. These are management’s guidance ranges, not realized financial results. The company says actual outcomes may differ materially from forward-looking statements.
| Guidance measure | Updated 2026 outlook | Previous outlook |
|---|---|---|
| Full-year net revenue | $8.875–$9.025 billion | $8.660–$8.860 billion |
| Full-year adjusted EBITDA | $1.205–$1.245 billion | $1.177–$1.237 billion |
| Q3 2026 revenue | $2.375–$2.425 billion | Not stated here |
| Q3 2026 adjusted EBITDA | $325–$335 million | Not stated here |
| Adjusted free cash flow conversion | 115%, based on adjusted net income | Not stated here |
In its SEC-filed earnings exhibit, CEO Russ Becker said the quarter reflected “continued strength in inspection, service, and monitoring revenues, as well as robust project activity across both segments.” The release identifies risks to future results that include macroeconomic conditions, inflation, supply-chain interruptions, international and trade-policy exposure, acquisition integration, execution of the company’s inspection-first strategy, project delays, indebtedness, and contract-portfolio risk. The SEC filing contains the exhibit and the company’s forward-looking-statement qualifications.
What the construction and maintenance peer roundup reported
StockStory’s October 8, 2026 roundup says the 11 companies it tracks beat analyst revenue consensus by 3.6% in aggregate. It also says next-quarter revenue guidance was 6.2% above consensus and the group’s share prices had declined an average 7.9% since their latest reports. These are StockStory’s comparative calculations, not figures reported by APi or a separate issuer. The article credits actuals and consensus estimates to StockStory, S&P Global Market Intelligence, and Visible Alpha, and market data to Massive; that attribution does not mean those data providers endorse StockStory’s interpretation.
The accessible roundup gives company-specific summaries for five companies. The revenue surprises and share-price snapshots below are StockStory’s calculations as reported in its October 8 article, not issuer-reported measures. Price snapshots are time-sensitive.
| Company | Roundup’s Q2 revenue summary | Other reported comparison | Price snapshot in the October 8 roundup |
|---|---|---|---|
| APi Group (NYSE: APG) | $2.25 billion; up 13.3%; 2.1% above expectations | StockStory labeled it an earnings outperformer | Up 5.3% since reporting; $40.51 |
| Tutor Perini (NYSE: TPC) | $1.64 billion; up 19.2%; 4.4% above expectations | StockStory called it its “Best Q2” and said full-year EPS guidance beat expectations | Up 1.8% since reporting; $86.07 |
| Matrix Service (NASDAQ: MTRX) | $244.5 million; up 13%; 1% below expectations | StockStory called it “Weakest Q2” and said it significantly missed EBITDA and EPS expectations | Down 3.5% since reporting; $10.48 |
| Limbach (NASDAQ: LMB) | $173.5 million; up 21.9%; 2.1% below expectations | StockStory said it had the group’s highest full-year guidance raise, but significantly missed EBITDA guidance and estimates | Down 33.9%; $50.97 |
| MYR Group (NASDAQ: MYRG) | $1.08 billion; up 20.1%; 8.3% above expectations | StockStory said it beat EBITDA and EPS estimates | Flat; $320.24 |
The roundup’s visible text does not identify or provide individual comparisons for the other six companies in its stated group of 11. It therefore does not support a complete 11-company ranking from the information presented here. APi’s own release reports Q2 revenue of $2.254 billion; StockStory’s $2.25 billion figure is a rounded summary.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to read the “market’s biggest risk” question
The roundup’s question about the market’s biggest risk is a framing device, not a conclusion established by the figures it presents. A group-level revenue beat and above-consensus guidance can coexist with falling share prices; the roundup’s numbers alone do not identify why investors repriced the stocks or prove which risk is largest.
Do these 3 things before closing this tab:
1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsFor a useful peer comparison, keep the measures and time windows aligned:
Quick Recap
Best Value
- Distinguish reported revenue growth from organic growth, and compare organic figures only when companies define them consistently.
- Separate company-reported actual results from analyst-consensus comparisons attributed to a publisher or data provider.
- Keep GAAP earnings distinct from adjusted or other non-GAAP measures.
- Compare guidance with guidance, including the same fiscal period and metric.
- For share-price moves, use the same post-report starting point and an explicitly dated endpoint; a snapshot can change quickly.
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