Date: Friday, May 3, 2024Time: 10:00 a.m. (Eastern Time) BROOKFIELD, NEWS, March 15, 2024 (GLOBE NEWSWIRE) -- You are invited to participate in Brookfield Business Partners’ 2024 First Quarter Conference Call & Webcast on Friday, May 3, 2024 at 10:00 a.m. (Eastern Time) to discuss with members of senior management our results and current business initiatives. Results will be released on Friday, May 3, 2024 prior to 8:00 a.m. (Eastern Time) and will be available following the release on our website at https: ...

BROOKFIELD, NEWS, March 01, 2024 (GLOBE NEWSWIRE) -- Brookfield Business Partners (NYSE:BBU, BBUC, TSX:BBU, BBUC))) announced today the filing of its 2023 annual reports, including its audited financial statements for the year ended December 31, 2023, on Forms 20-F with the SEC on EDGAR as well as with the Canadian securities authorities on SEDAR+. These documents are also available on our website at https://bbu.brookfield.com (or for Brookfield Business Corporation, at https://bbu.brookfield.com/bbuc/overv ...

Financial Performance Metrics - The company evaluates its performance using net income attributable to unitholders and Adjusted EFO, with Adjusted EFO being a key measure for assessing performance and resource allocation decisions [21]. - Adjusted EBITDA is defined as net income and equity accounted income at the company's economic ownership interest, excluding various expenses, and is critical for evaluating overall operating performance [23]. - The company emphasizes the importance of reviewing IFRS financial measures alongside non-IFRS measures like Adjusted EBITDA to gain a comprehensive understanding of financial performance [24]. Risks and Uncertainties - Forward-looking statements include expectations regarding operations, financial condition, and market outlook, but are subject to risks and uncertainties that may cause actual results to differ materially [26]. - The company is subject to various risks, including competition for acquisition opportunities and the ability to integrate acquisitions effectively [27]. - The company is subject to significant risks including political instability, changes in government policy, and reliance on third-party service providers [28]. - High inflation and rising interest rates pose risks to economic growth and could negatively impact the company's financial results [43]. - The accuracy of management's assumptions and estimates is critical, as significant deviations could lead to substantial financial impacts [51]. - Future acquisitions may involve risks such as integration difficulties, potential disruption of current operations, and increased legal or regulatory liabilities [46]. Operational Challenges - The cyclical nature of operating businesses and general economic conditions, including interest rates and commodity prices, are significant factors affecting performance [27]. - The company may face challenges related to the cyclical nature of its operations and general economic conditions, which could adversely affect growth and profitability [33]. - The company faces challenges in completing acquisitions due to potential delays in obtaining necessary approvals and financing, which could lead to significant declines in market value [53]. - The total exposure to debt is significant, and increased leverage may heighten the risk of loss and sensitivity to economic downturns [55]. - Rising interest rates could increase financing costs and make it difficult to complete acquisitions, potentially leading to lower profits [56]. Regulatory and Compliance Issues - The company may become regulated as an investment company under the Investment Company Act, which could impose additional operational constraints [29]. - The company is subject to various governmental investigations, audits, and inquiries, which can be costly and may result in criminal liability, fines, or penalties [108]. - The company may incur significant costs and burdens due to compliance with anti-corruption and trade sanctions laws, which could negatively impact its operations [109]. - Compliance with foreign investment laws may limit the company's ability to find suitable investments and could impose additional operational burdens [113]. Market and Economic Conditions - The residential mortgage insurer is heavily influenced by macroeconomic conditions, with key factors including economic growth, interest rates, unemployment, and housing activity impacting premium levels and claims losses [115]. - The healthcare services segment derives the majority of its revenues from private health insurance funds, making it vulnerable to changes in economic conditions and the ability to secure commercial agreements [121]. - The road fuels operation is subject to fluctuations in fuel prices and demand, which could adversely affect revenues and financial condition [126]. - The construction operation is vulnerable to economic cycles, with demand influenced by capital expenditures and economic conditions in key geographic areas, which may affect profitability [134]. Competition and Market Position - The company operates in a highly competitive market for acquisition opportunities, facing competition from larger investment funds and companies [49]. - The dealer software and technology services operation faces intense competition and must adapt quickly to technological developments to maintain market position [128]. - The payment processing services operation is vulnerable to cybersecurity risks and competition from larger firms, which may affect its market position [149]. Environmental and Social Risks - The company faces risks related to environmental damage and compliance costs, particularly in operations involving hazardous substances, which could lead to substantial fines or penalties [80]. - Increasingly stringent environmental legislation may result in higher operational costs that cannot be passed on to customers, adversely affecting growth prospects [82]. - Climate change poses risks to the construction operation, potentially leading to increased interruptions and shifts in client infrastructure priorities [142]. Management and Governance - The company is highly dependent on Brookfield for management and administration services, which may lead to conflicts of interest [184]. - Brookfield has no obligation to source acquisition opportunities for the company, which may limit growth potential [185]. - The Limited Partnership Agreement modifies fiduciary duties, potentially limiting remedies for conflicts of interest [194]. - Conflicts of interest may arise due to the independent operation of Brookfield and Oaktree, potentially impacting investment opportunities and decisions [205]. Financial Structure and Capital Management - Access to capital is crucial for funding acquisitions and capital projects, and misjudgments in capital requirements could lead to negative financial consequences [61]. - The company relies on distributions from the Holding LP and its operating businesses to meet financial obligations, with potential restrictions on these distributions due to local laws and contractual agreements [212]. - The company anticipates that distributions will primarily assist in covering expenses and making distributions to unitholders, rather than generating independent revenue [213].

Brookfield Business Partners L.P. (NYSE:BBU) Q4 2023 Earnings Conference Call February 2, 2024 10:00 AM ET Company Participants Alan Fleming - Head, IR Cyrus Madon - Chief Executive Chairman Anuj Ranjan - CEO Denis Turcotte - COO Jaspreet Dehl - CFO Conference Call Participants Geoffrey Kwan - RBC Capital Markets Gary Ho - Desjardins Capital Markets Devin Dodge - BMO Capital Markets Jaeme Gloyn - National Bank Nik Priebe - CIBC Capital Markets Operator Welcome to the Brookfield Business Partners Fourth Quar ...

BROOKFIELD, NEWS, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Brookfield Business Partners (NYSE:BBUC, BBU, TSX:BBUC, BBU.UN))) announced today financial results for the year ended December 31, 2023. "We had a successful 2023, achieving strong business performance and generating over $2 billion of proceeds from capital recycling initiatives which further enhances our liquidity position," said Anuj Ranjan, CEO of Brookfield Business Partners. "As we look to the future, the quality of our operations is the best in our ...

Financial Performance - As of September 30, 2023, total assets amounted to $88.3 billion, with revenues of $41.7 billion for the nine months ended September 30, 2023[223]. - Revenues for Q3 2023 decreased by $312 million to $14,399 million, primarily due to a $440 million decrease in business services segment revenues[278]. - For the nine months ended September 30, 2023, revenues decreased by $1,082 million to $41,663 million, mainly due to a $3,782 million decrease in road fuels operations[279]. - Net income for Q3 2023 was $49 million, compared to a net loss of $65 million in Q3 2022[276]. - Net income for the nine months ended September 30, 2023, was $205 million, compared to a loss of $117 million in the same period of 2022[357]. - Adjusted EBITDA for the three months ended September 30, 2023, was $655 million, compared to $611 million for the same period in 2022[350]. - Adjusted EBITDA for the nine months ended September 30, 2023, was $1,627 million, an increase from $2,381 million in the same period of 2022[357]. Segment Performance - The business services segment generated revenues of $24.3 billion, while the infrastructure services segment contributed $6.0 billion, and the industrials segment accounted for $11.3 billion[223]. - Adjusted EFO for the business services segment was $123 million for the three months ended September 30, 2023, compared to $136 million for the same period in 2022[318]. - Adjusted EBITDA for the infrastructure services segment for the three months ended September 30, 2023 was $228 million, an increase of $23 million compared to $205 million for the same period in 2022[331]. - Adjusted EBITDA for the industrials segment for the three months ended September 30, 2023 was $218 million, a decrease of $10 million from $228 million for the same period in 2022[338]. - The residential mortgage insurer contributed $64 million to Adjusted EBITDA for the three months ended September 30, 2023, up from $53 million for the same period in 2022[326]. Assets and Liabilities - Financial assets decreased by $99 million to $12,809 million as of September 30, 2023, compared to $12,908 million as of December 31, 2022[296]. - Total liabilities increased to $2,336 million as of September 30, 2023, compared to $2,279 million as of December 31, 2022[343]. - Non-recourse borrowings in subsidiaries decreased to $43,893 million as of September 30, 2023, from $44,593 million as of December 31, 2022[369]. - The partnership's net debt as of September 30, 2023 was $42,950 million, with a net debt-to-capitalization ratio of 70%[377]. Cash Flow and Liquidity - Total cash flow provided by operating activities for the nine months ended September 30, 2023 was $1,704 million, compared to $951 million for the same period in 2022, reflecting a significant increase[382]. - Total cash flow used in financing activities was $695 million for the nine months ended September 30, 2023, a decrease from $16,377 million in the same period of 2022[383]. - Total cash flow used in investing activities was $883 million for the nine months ended September 30, 2023, compared to $16,711 million for the same period in 2022[384]. - The partnership declared a quarterly distribution of $0.0625 per unit, payable on December 29, 2023, with an anticipated annualized distribution of approximately $0.25 per unit[377]. Strategic Initiatives - The partnership aims to enhance cash flows through an operations-oriented acquisition strategy and capital recycling into new investments[220]. - The partnership's strategy includes pursuing acquisitions through consortium arrangements with institutional partners, enhancing growth opportunities[367]. - The partnership has a revolving acquisition credit facility with Brookfield allowing borrowings of up to $1 billion, which remains undrawn as of September 30, 2023[374]. Tax and Regulatory Changes - Current income tax expense for Q3 2023 increased by $79 million to $211 million compared to $132 million in Q3 2022, primarily due to increased profitability in advanced energy storage and dealer software operations[288]. - Deferred income tax recovery for Q3 2023 increased by $126 million to $294 million compared to $168 million in Q3 2022, partly due to the transition to IFRS 17[288]. - The partnership adopted IFRS 17 effective January 1, 2023, impacting the reported results of its residential mortgage insurer[396]. - Amendments to IAS 12 regarding International Tax Reform - Pillar Two model rules were adopted, with no material impact on the financial statements[398]. Operational Highlights - The healthcare services operations manage 38 hospitals, primarily generating revenue from private health insurance and government agreements[231]. - The advanced energy storage operations manufacture and distribute over 150 million batteries per year, powering one in three cars globally[253]. - The water and wastewater operations in Brazil provide services to over 16 million people across more than 100 municipalities[258]. - The offshore oil services operations emerged from Chapter 11 restructuring with a deleveraged balance sheet, holding approximately 53% economic interest post-restructuring[247].

Brookfield Business Partners L.P. (NYSE:BBU) Q3 2023 Earnings Conference Call November 3, 2023 9:30 AM ET Company Participants Alan Fleming - Head, Investor Relations Cyrus Madon - Chief Executive Officer Denis Turcotte - Chief Operating Officer Jaspreet Dehl - Chief Financial Officer Conference Call Participants Gary Ho - Desjardins Capital Markets Nik Priebe - CIBC Capital Markets Jaeme Gloyn - National Bank Operator Welcome to the Brookfield Business Partners Third Quarter 2023 Results Conference Call an ...

THREE MONTHS ENDED SEPTEMBER 30, 2023 Primary FontColour Print Important Cautionary Notes R34 G34 B35 On-screen R17 G17 B17 All amounts in this Supplemental Information are in U.S. dollars unless otherwise specified. Unless otherwise indicated, the statistical and financial data in this document is presented as at September 30, 2023. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION Logo & Divider Slide Font Note: This Supplemental Information contains “forward-looking information” w ...

Financial Performance - Total assets as of June 30, 2023, amounted to $90.3 billion, with revenues of $27.3 billion for the six months ended June 30, 2023[230]. - For Q2 2023, the company reported revenues of $13,506 million, a decrease of $1,101 million (7.5%) compared to $14,607 million in Q2 2022[285]. - Net income for Q2 2023 was $41 million, down from $280 million in Q2 2022, resulting in a loss of $0.22 per limited partner unit compared to a gain of $0.62 per unit in the prior year[283]. - Net income for the six months ended June 30, 2023, was $270 million, compared to a loss of $72 million in the same period of 2022[366]. - Other income for Q2 2023 increased to $138 million, compared to a net expense of $218 million in Q2 2022, driven by net gains on debt modifications and extinguishments[293]. - The net income for the three months ended June 30, 2023, was $41 million, while the net income for the six months ended June 30, 2023, was $244 million[358][361]. Revenue Segmentation - The business services segment generated revenues of $15.8 billion, while the infrastructure services segment contributed $4.0 billion, and the industrials segment accounted for $7.4 billion[230]. - Revenues from nuclear technology services operations were $1,006 million and $2,062 million for the three and six months ended June 30, 2023, with direct operating costs of $898 million and $1,833 million respectively[250]. - Adjusted EFO for the business services segment was $119 million for the three months ended June 30, 2023, compared to $138 million for the same period in 2022[328]. - Adjusted EFO in the infrastructure services segment for the three months ended June 30, 2023 was $88 million, a decrease of $36 million (29.0%) from $124 million in the same period of 2022[341]. - Adjusted EFO in the industrials segment for the three months ended June 30, 2023 was $63 million, a decrease of $38 million (37.6%) from $101 million in the same period of 2022[348]. Operational Highlights - The partnership's residential mortgage insurer is the largest private sector residential mortgage insurer in Canada, significantly increasing access to homeownership for Canadian residents[233]. - The dealer software and technology services operations closed the sale of a non-core division for approximately $490 million, resulting in a gain of $87 million[236]. - The healthcare services operations operate 38 hospitals, primarily generating revenues from private health insurance funds and government-related bodies[237]. - The construction operations focus on high-quality construction, primarily on large-scale and complex landmark buildings and social infrastructure[238]. - The offshore oil services operations emerged from Chapter 11 restructuring with a deleveraged balance sheet, maintaining approximately 53% economic interest[253]. Cash Flow and Liquidity - Cash flow from operating activities for the six months ended June 30, 2023, was $560 million, an increase from $224 million for the same period in 2022[394]. - Total cash flow used in financing activities was $102 million for the six months ended June 30, 2023, compared to $8,859 million provided in the same period in 2022[395]. - Cash flow provided by investing activities was $337 million for the six months ended June 30, 2023, a significant improvement from $9,215 million used in the same period in 2022[397]. - The partnership's consolidated net debt was $43,876 million, with a net debt-to-capitalization ratio of 70%[390]. - Liquidity is managed through cash flows from operations, credit facilities, and monetizing mature operations, with a strong liquidity profile to pursue acquisition opportunities[376]. Capital Expenditures and Assets - Capital expenditures for the six months ended June 30, 2023, included $301 million in maintenance capital and $1,045 million in growth capital, compared to $328 million and $581 million, respectively, for the same period in 2022[310]. - Financial assets increased by $521 million to $13,429 million as of June 30, 2023, compared to $12,908 million as of December 31, 2022[303]. - Inventory and other assets increased by $725 million to $8,284 million as of June 30, 2023, compared to $7,559 million as of December 31, 2022[307]. - Property, plant & equipment (PP&E) increased by $403 million to $16,296 million as of June 30, 2023, compared to $15,893 million as of December 31, 2022, driven by $1,650 million in additions and impacted by foreign exchange movements of $175 million[308]. Debt and Financing - The partnership's financing arrangements totaled $44,908 million as of June 30, 2023, reflecting an increase primarily due to new borrowings for acquisitions[381]. - The weighted average interest rate on debt outstanding was 7.9% as of June 30, 2023, with approximately 50% of non-recourse borrowings being fixed or hedged[382]. - The partnership has a total capacity of $2.3 billion in bilateral credit facilities, with $310 million available as of June 30, 2023[384]. - The revolving acquisition credit facility with Brookfield allows borrowings of up to $1 billion, maturing on April 27, 2028, and will decrease to $500 million on April 27, 2024[385]. Regulatory and Accounting Changes - The partnership adopted IFRS 17 effective January 1, 2023, impacting the reported results of its residential mortgage insurer[409]. - The transition impact of IFRS 17 resulted in a $17 million increase to opening equity on January 1, 2022[409]. - The adoption of IFRS 17 does not materially impact cash flows generated by the partnership[410]. - Amendments to IAS 12 were adopted on January 1, 2023, with no material impact on the partnership's financial statements[411].

Brookfield Business Partners L.P. (NYSE:BBU) Q2 2023 Earnings Conference Call August 4, 2023 9:30 AM ET Company Participants Alan Fleming - Head-Investor Relations Cyrus Madon - Chief Executive Officer Anuj Ranjan - President Jaspreet Dehl - Chief Financial Officer Patrick McHugh - Chief Executive of Scientific Games Conference Call Participants Gary Ho - Desjardins Capital Markets Andrew Kuske - Credit Suisse Jaeme Gloyn - National Bank Devin Dodge - BMO Capital Markets Nik Priebe - CIBC Capital Markets Op ...