APi (US:APG)2025-07-31 12:30Q2 2025 Performance - Net revenues reached $199 billion, a 150% increase compared to Q2 2024, with 83% organic growth[16, 20] - Adjusted EBITDA was $272 million, up 177% from Q2 2024, with adjusted EBITDA margin increasing by 30 basis points to 137%[16, 20] - Adjusted diluted earnings per share increased by 182% to $039 compared to Q2 2024[16, 20] - Year-to-date adjusted free cash flow was $186 million, a 388% increase year-over-year, representing 400% conversion[16] Segment Performance - Safety Services net revenues were $1362 billion, a 158% increase compared to Q2 2024, with 56% organic growth[22] - Specialty Services net revenues were $629 million, a 133% increase compared to Q2 2024, with 133% organic growth[22] - Safety Services adjusted gross profit was $506 million, a 179% increase, with adjusted gross margin at 372%[22] - Specialty Services adjusted gross profit was $114 million, a (50)% decrease, with adjusted gross margin at 181%[22] Guidance and Capitalization - The company projects net revenues of $7650 to $7850 million and adjusted EBITDA of $1005 to $1045 million for FY 2025[25, 26] - Q3 2025 net revenues are expected to be $1985 to $2035 million, with organic growth of 5%-7% and adjusted EBITDA of $270 to $280 million[26]