What were the key takeaways from APi Group's earnings call?

What is APi Group's latest dividend and current dividend yield?

What does APi Group do and what are its main business segments?

What were the key takeaways from APi Group’s earnings call?

What guidance did APi Group's management provide for the next earnings period?

What is APi Group's gross profit margin?

Did APi Group beat or miss consensus estimates last quarter?

What factors drove the changes in APi Group's revenue and profit?

- **Revenue Growth**: Q3 net revenues $2.1 billion (+14.2% YoY), driven by 10% organic growth and 11 bolt-on acquisitions.
- **Margin Expansion**: Adjusted EBITDA margin 13.5% (+10bps YoY), gross margin 31.5% (+50bps YoY).
- **Data Center Momentum**: Data center projects now 9-10% of revenue, with larger, more complex projects driving margin accretion.
- **M&A Pipeline**: $250 million+ M&A completed YTD, targeting $10B revenue and 16% EBITDA margin by 2028.

**【CEO Summary Section】**
- **Record Q3 Growth**: Net revenues reached $2.1 billion, up 14.2% YoY, driven by 10% organic growth across both segments. Safety Services grew 15.4% YoY, while Specialty Services expanded 11.6% YoY.
- **Inspection & Service Dominance**: Inspection, service, and monitoring revenues grew 21st consecutive quarter in North America, with data center and advanced manufacturing projects contributing 9-10% of total revenue.
- **AI & Technology Investments**: Piloting tools like APi Echo, One Code, and predictive customer retention AI to empower field leaders, with focus on 10/16/60+ targets ($10B revenue, 16% EBITDA margin, 60%+ recurring revenue by 2028).
- **M&A Momentum**: Completed 11 bolt-on acquisitions year-to-date, totaling ~$250 million, with pipeline strength in fire protection, security, and elevator services globally.
- **Backlog & Cash Flow**: Record backlog and $248 million Q3 free cash flow (88% conversion), with full-year guidance of $7.8-7.9 billion revenue and $1.015-1.045 billion EBITDA.

**【CFO Financial Commentary】**
- **Topline Performance**: Adjusted gross margin 31.5% (up 50bps YoY), EBITDA margin 13.5% (up 10bps YoY). Specialty Services gross margin 19.3% (down 60bps YoY due to project mix).
- **Free Cash Flow**: Year-to-date $434 million (58% conversion), targeting 75% for full year. Net debt/EBITDA ~2.0x, below long-term target of 2.5x.
- **Guidance Update**: Raised 2025 revenue to $7.85-7.925 billion (12-13% growth) and EBITDA to $1.015-1.045 billion (15% growth at midpoint).

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