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NEW BRIGHTON, Minn. - APi Group Corporation (NYSE:APG) announced today the appointment of David Jackola as its new Executive Vice President & Chief Financial Officer, effective immediately. Jackola has been serving as the Interim CFO since December 2024 and will now take over the position permanently.
Russ Becker, President and CEO of APi, expressed confidence in Jackola’s leadership abilities and his track record in driving growth and executing strategic objectives. He highlighted Jackola’s financial expertise, global experience, and understanding of the company’s operations as key factors in the decision.
Jackola, who has been with APi since October 2021, has over 20 years of global finance experience. His previous roles within APi include CFO and Vice President of Transformation at APi International and Vice President, Controller, and Chief Accounting Officer. Before APi, he held senior finance positions at James Hardie Building Products and Ecolab.
In his statement, Jackola expressed his enthusiasm for the role and his commitment to leading APi’s finance and IT teams, supporting field leaders, and contributing to the company’s long-term strategic objectives.
APi Group, a global business services provider specializing in fire and life safety, security, elevator and escalator, and specialty services, operates over 500 locations worldwide. The company is known for its recurring revenue base and strong customer relationships across various industries. InvestingPro data shows the company maintains a healthy current ratio of 1.41 and has achieved an impressive 11% revenue CAGR over the past five years. According to InvestingPro analysis, while the company operates with moderate debt levels, it has demonstrated strong returns over the last five years.
Jackola is scheduled to join other senior leaders at APi’s Investor Day on May 21 in New York, where they will discuss the company’s performance in the first half of the year and present updated long-term strategic objectives. Analysts maintain a bullish outlook, with a consensus target price reaching up to $50 per share. Get deeper insights into APi Group’s financial health and growth potential with a comprehensive Pro Research Report, available exclusively on InvestingPro, along with 7 additional key ProTips for informed investment decisions.
This announcement is based on a press release statement from APi Group Corporation.
In other recent news, API Group Corp reported its fourth-quarter earnings for 2024, showing solid financial performance. The company achieved earnings per share (EPS) of $0.51, in line with analyst expectations, and reported revenue of $1.86 billion, slightly exceeding projections. For the year, API Group reached a record net revenue of $7 billion, reflecting a 1.3% growth year-over-year. Adjusted EBITDA saw a significant rise of 16.3% in the fourth quarter, further indicating the company’s robust financial health. The firm continues to focus on expanding its presence in the elevator and escalator services market, having recently acquired Elevated, a move that aligns with their strategic growth initiatives. Looking ahead to 2025, API Group projects net revenue between $7.3 billion and $7.5 billion, with expectations for adjusted EBITDA to range from $970 million to $1.02 billion. Analysts have noted the company’s commitment to high single-digit growth in inspection services and mid-single-digit organic growth in specialty services. Despite meeting earnings expectations, the stock faced a decline in pre-market trading, possibly due to broader market trends and investor concerns about future growth prospects.
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