BROOKFIELD, NEWS, June 20, 2024 (GLOBE NEWSWIRE) -- Brookfield Business Corporation (the "Corporation") (NYSE, TSX: BBUC) today announced that all ten nominees proposed for election to the board of directors of the Corporation by holders of class A exchangeable subordinate voting shares ("Exchangeable Shares") and holders of class B multiple voting shares ("Class B Shares") were elected at the Corporation's annual general meeting of shareholders held on June 20, 2024 in a virtual meeting format. Detailed re ...

Date: Friday, August 2, 2024 Time: 10:00 a.m. (Eastern Time) BROOKFIELD NEWS, June 14, 2024 (GLOBE NEWSWIRE) -- You are invited to participate in Brookfield Business Partners' 2024 Second Quarter Conference Call & Webcast on Friday, August 2, 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, August 2, 2024 prior to 8:00 a.m. (Eastern Time) and will be available following the release on our website ...

UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF BROOKFIELD BUSINESS PARTNERS L.P. As at March 31, 2024 and December 31, 2023 and for the three months ended March 31, 2024 and 2023 1 INDEX TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF BROOKFIELD BUSINESS PARTNERS L.P. Unaudited Interim Condensed Consolidated Statements of Financial Position 3 Unaudited Interim Condensed Consolidated Statements of Operating Results 4 Unaudited Interim Condensed Consolidated Statement ...

Brookfield Business Partners L.P. (NYSE:BBU) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET Company Participants Alan Fleming - Head, IR Anuj Ranjan - CEO Adrian Letts - Managing Partner Jaspreet Dehl - CFO Conference Call Participants Gary Ho - Desjardins Capital Markets Devin Dodge - BMO Capital Markets Geoffrey Kwan - RBC Capital Markets Nik Priebe - CIBC Capital Markets Operator Welcome to the Brookfield Business Partners' First Quarter 2024 Results Conference Call and Webcast. As a reminder, ...

Date: Friday, May 3, 2024 Time: 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 ...

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].

Financial Data and Key Metrics Changes - The company achieved record full-year adjusted EBITDA of $2.5 billion, reflecting an 11% increase compared to the prior year, with adjusted EBITDA margins improving to 19% [7][19] - Adjusted EFO was reported at $2.9 billion, which included $2 billion of after-tax net gains on sales during the year [19] Business Line Data and Key Metrics Changes - Business Services segment generated full-year EBITDA of $900 million, up from $641 million in 2022, with adjusted EFO increasing to $636 million from $427 million [19] - Infrastructure segment reported adjusted EBITDA of $853 million, with adjusted EFO of $2.1 billion, benefiting from a $1.7 billion net gain on the sale of Nuclear Technology Services [20] - Industrial segment's adjusted EBITDA was $855 million, slightly down from $879 million in 2022, with record results in advanced energy storage offset by reduced contributions from other operations [20] Market Data and Key Metrics Changes - The company noted that the trading price of its units has been materially disconnected from their fundamental value, trading at less than 8.5x EBITDA compared to the S&P 500 at 14x [10] - The company has refinanced over $17 billion of nonrecourse borrowings, extending their duration without increasing the overall cost of debt [9] Company Strategy and Development Direction - The company is focusing on capital recycling initiatives, generating over $2 billion in proceeds, which has reduced corporate borrowings and strengthened its capital position [8] - The company plans to monetize larger investments, with the largest businesses performing exceptionally well, contributing significantly to earnings and cash flow [9][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds in the global operating environment but noted that volumes have held up well, and they are monitoring geopolitical tensions affecting freight and commodity prices [13] - The company expects interest rates to have peaked, which should create opportunities for monetization and improve trading performance as rates decline [10][11] Other Important Information - Clarios, a key business unit, achieved record performance in 2023 and is expected to exceed $2 billion in EBITDA in the near term, with significant free cash flow generation [15] - The company ended the year with $2.1 billion of liquidity at the corporate level, providing ample capacity to support operations and growth [21] Q&A Session Summary Question: Clarios debt repayment and future deleveraging - Management indicated that the $850 million of debt repaid in 2023 is a level they can maintain in future years, targeting a leverage ratio of around 3.5 times for a potential IPO [24][28] Question: Market conditions for monetization - Management noted that bid-ask spreads are starting to narrow as interest rates have peaked, which should facilitate monetization opportunities [30] Question: Long-term hold of certain businesses - Management expressed that while they aim to recycle capital, some businesses, like the residential insurance business, may be held longer due to their strong cash flow generation [33] Question: Clarios IPO size and confidence - Management is targeting a smaller IPO size of $750 million to $1 billion, learning from previous attempts, and expressed confidence in the business's improved performance [36][38] Question: Capital allocation priorities - Management emphasized a balanced approach to capital allocation, focusing on deleveraging, liquidity, and selective investments [41] Question: Status of BRK Ambiental efficiency program - Management reported positive progress at BRK Ambiental, with improved margins and free cash flow, but noted that monetization will depend on market conditions [65]

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 ...