Safety and specialty services provider APi (NYSE:APG) will be reporting results tomorrow before market hours. Here’s what you need to know.
APi missed analysts’ revenue expectations by 3.3% last quarter, reporting revenues of $1.73 billion, down 2.3% year on year. It was a slower quarter for the company, with underwhelming EBITDA guidance for the next quarter and a miss of analysts’ organic revenue estimates.
Is APi a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting APi’s revenue to grow 5.2% year on year to $1.88 billion, improving from the 2.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.51 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. APi has missed Wall Street’s revenue estimates four times over the last two years.
Looking at APi’s peers in the construction and engineering segment, only Comfort Systems has reported results so far. It missed analysts’ revenue estimates by 1.6%, delivering year-on-year sales growth of 31.5%. The stock was down 10.3% on the results.
Read our full analysis of Comfort Systems’s earnings results here.Investors in the construction and engineering segment have had steady hands going into earnings, with share prices flat over the last month. APi is up 4.9% during the same time and is heading into earnings with an average analyst price target of $43.56 (compared to the current share price of $33.94).
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