Earnings Call Summary | APi Group(APG.US) Q1 2024 Earnings Conference
Earnings Call Summary | APi Group(APG.US) Q1 2024 Earnings Conference
The following is a summary of the APi Group Corporation (APG) Q1 2024 Earnings Call Transcript:
以下是Api集團公司（APG）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
APi Group Corporation reported Q1 2024 revenues of $1.6 billion, remaining flat compared to the same period the previous year.
The firm saw organic growth of 3% in service revenues and a 6% organic decline in project revenues.
Adjusted gross margin improved by 390 basis points to 30.7% for Q1 2024.
Record Q1 adjusted EBITDA margin was 10.9%, an increase of 180 basis points.
Adjusted free cash flow for Q1 2024 was $12 million, an improvement of $12 million compared to Q1 2023.
The firm achieved strong free cash flow of 80% and aims to increase this going forward with a focus on cash flow conversion.
APi集團公司報告稱，2024年第一季度收入爲16億美元，與去年同期相比保持不變。
該公司的服務收入有機增長了3％，項目收入有機下降了6％。
2024年第一季度調整後的毛利率提高了390個點子，至30.7％。
創紀錄的第一季度調整後的息稅折舊攤銷前利潤率爲10.9％，增長了180個點子。
2024年第一季度調整後的自由現金流爲1200萬美元，與2023年第一季度相比增加了1200萬美元。
該公司實現了80％的強勁自由現金流，目標是以現金流轉換爲重點，在未來增加自由現金流。
Business Progress:
業務進展：
APi made a significant $570 million acquisition of the Elevated Facilities Services Group, providing access to the $10 billion-plus US elevator and escalator services market. The acquisition is projected to contribute significantly to annual revenues.
The company aims to build its strategic position by focusing on margin growth and inspection and monitoring services, targeting 60% revenue from this area in the long-term.
Looking forward to the rest of 2024, APi expects to reinvest its cash primarily into bolt-on and tuck-in M&A campaigns, with potential to pay down some debt later in the year.
Expansion into the elevator end market aligns well with their inspection-first strategy and is anticipated to be a significant contributor to the company's 60% revenue goal.
The firm anticipates accelerated organic growth, specifically in the back half of the year and is preparing to close a material acquisition in Q2.
A focus remains on the health, safety, and well-being of team members, with the firm attributing their success to the dedication and support of its employees.
APi對高架設施服務集團進行了5.7億美元的重大收購，爲進入超過100億美元的美國電梯和自動扶梯服務市場提供了准入。此次收購預計將爲年收入做出重大貢獻。
該公司的目標是通過專注於利潤增長以及檢查和監測服務來建立其戰略地位，目標是長期從該領域獲得60％的收入。
展望2024年的剩餘時間，APi預計將主要將其現金再投資於附加和隱性併購活動，並有可能在今年晚些時候償還部分債務。
向電梯終端市場的擴張與他們的檢查優先戰略非常吻合，預計將爲公司60％的收入目標做出重要貢獻。
該公司預計，有機增長將加速，特別是在下半年，並準備在第二季度完成一項材料收購。
公司仍然將重點放在團隊成員的健康、安全和福祉上，公司將他們的成功歸功於員工的奉獻精神和支持。
More details: APi Group IR
更多詳情： API 集團 IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。