APi Gr Q1 Adj $0.34 Beats $0.33 Estimate, Sales $1.60B Inline
Portfolio Pulse from Benzinga Newsdesk
APi Group Corporation (APG) reported Q1 adjusted earnings of $0.34 per share, surpassing the consensus estimate of $0.33, marking a 36% increase from last year. Quarterly sales were $1.60 billion, meeting estimates but slightly down from $1.61 billion a year ago.
May 02, 2024 | 11:36 am
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APi Group Corporation (APG) exceeded Q1 earnings expectations with $0.34 per share, a 36% increase from the previous year, and reported sales of $1.60 billion, in line with estimates.
Beating earnings estimates typically has a positive impact on a company's stock price in the short term, especially when the beat is accompanied by a significant year-over-year growth in earnings. Although the sales were in line with expectations and slightly down from the previous year, the positive earnings surprise is likely to be the focal point for investors.
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