APi Group Corporation (APG) JPMorgan Industrials Conference 2026 March 17, 2026 7:30 AM EDT
Company Participants
Glenn Jackola – Executive VP & CFO
Adam Walters
Conference Call Participants
Tomohiko Sano – JPMorgan Chase & Co, Research Division
Presentation
Tomohiko Sano
JPMorgan Chase & Co, Research Division
Okay. Good morning, everyone. Welcome to JPMorgan Industrial Conference Day 2. This is Tomo Sano, SMID Cap Industrial analyst, and I’m pleased to open the day with APi Group. David Jackola, Executive Vice President, Chief Financial Officer; Adam Walters, Senior Director, Investor Relations. Thank you, David, and Adam.
Glenn Jackola
Executive VP & CFO
Good morning.
Adam Walters
Good morning.
Tomohiko Sano
JPMorgan Chase & Co, Research Division
So before we dive in, I’d like to share why APi Group is such a compelling addition to this year’s our conference. APi stands out as a leader in safety and specialty services with a resilient regulatory-driven business model and a clear road map to $10 billion plus revenue, 60% recurring revenue and 16% plus EBITDA margin by 2028. Their 10/16/60+ strategies and strong free cash flow make them a model of both stabilities and growth in the industrial sector. So to kick things off, I think it would be helpful to start with the introduction to APi Group, who the company is, what you do and also your stories. So David, could you kick off?
Glenn Jackola
Executive VP & CFO
All right. All right. Good morning. Before I get started, I just wanted to take a minute to thank everybody for showing up bright and early and for your interest in APi Group. So APi Group is a global marketing — market-leading business service provider of fire and life safety, security, elevator and escalator and specialty services. We did about $8 billion of revenue in 2025 and about 54% of that revenue comes from highly