APi Group Revises Q1 Net Revenues Forecast From $1.56B-$1.61B To $1.59B-$1.61B, Est. $1.592B
Portfolio Pulse from Benzinga Newsdesk
APi Group has updated its Q1 2024 revenue forecast to $1.59B-$1.61B, from the previous range of $1.56B-$1.61B, with an estimated consensus at $1.592B. The company also adjusted its EBITDA forecast to $172-$177 million from the prior $165-$180 million, and expects adjusted free cash flow to be ahead of last year, aligning with seasonal cash flow trends.

April 15, 2024 | 11:36 am
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APi Group has raised its Q1 2024 revenue forecast to a tighter range of $1.59B-$1.61B, with an adjusted EBITDA forecast of $172-$177 million, indicating a positive outlook on its financial performance.
The revision of APi Group's revenue forecast to a higher and narrower range suggests a positive adjustment based on current business performance and market conditions. The adjustment in EBITDA forecast, although slightly narrowed, remains robust, indicating efficient operational management and potentially higher profitability. The expectation of improved adjusted free cash flow, especially being ahead of the previous year and in line with seasonal trends, further supports a positive outlook for the company's short-term financial health. This update is likely to be viewed favorably by investors, potentially leading to a positive impact on APG's stock price in the short term.
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