How did APi Group's revenue and expenses trend in Q4 2024?

APi Group's revenue and expenses in Q4 2024 showed a business-focused trend, with Safety Services and Specialty Services segments driving revenue, while corporate functions showed expenses. Here's a detailed analysis: 1. **Revenue Trend**: - APi Group's total revenue for Q4 2024 was $5.23 billion. - The Safety Services segment contributed $3.83 billion to the revenue, and the Specialty Services segment added $1.8 billion. Additionally, there was a smaller contribution from the Corporate and Eliminations segment, with $453 million in revenue and a net income of -$1 million. - The Safety Services segment had the highest revenue among the business segments, indicating its significant role in driving the company's overall revenue. 2. **Expense Trend**: - Total expenses for the company were $1.86 billion. - The Corporate and Eliminations segment had the highest expenses within the business segments, amounting to -$6 million. However, it's important to note that this segment also had a negative net income, which could suggest certain internal adjustments or losses within this division. - The Safety Services and Specialty Services segments did not report any expenses, as they are presented as revenue-generating segments rather than expense centers. 3. **Net Income**: - APi Group reported a net income of $67 million for Q4 2024. - This net income was achieved despite the negative net income from the Corporate and Eliminations segment, which had a net loss of -$7 million. - The Safety Services segment contributed positively to the net income, with a reported net income of $67 million. 4. **Conclusion**: - APi Group's Q4 2024 financials reflect a strong revenue generation capacity, particularly from its Safety Services segment. This segment not only contributed the most to the company's revenue but also had a positive net income, indicating efficient management and profitability within this division. - The Specialty Services segment also contributed positively to the revenue, albeit to a lesser extent than the Safety Services segment. - The Corporate and Eliminations segment, while showing a negative net income and expenses, did not significantly impact the overall net income of the company, as the Safety Services segment's positive income outweighed the losses in this segment. In summary, APi Group's Q4 2024 financial performance was characterized by robust revenue growth, particularly in the Safety Services segment, and efficient management of expenses, leading to a positive net income.