Whatever public perception of nuclear energy may be, Bill Gates has decided it’s a worthy pursuit for his newly formed TerraPower. The former tech billionaire turned philanthropist has been aggressively searching for ways to improve the world in the ways he deems fit.From investing in farming to vaccine development, Gates has a penchant for trying new things. However, like in other industries, Gates’ foray into energy could create a splash among nuclear energy stocks as it brings investor attention to the i ...

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 ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q1 2024 was $544 million, a decrease from $622 million in the prior period, with an adjusted EBITDA margin increase from 19% to over 20% [6][17] - Adjusted EFO for the quarter was $331 million, including $62 million of net gains primarily from the sale of public securities [17] Business Line Data and Key Metrics Changes - The industrial segment generated adjusted EBITDA of $228 million, up from $219 million in the previous year, driven by strong performance in advanced energy storage [17] - Business services segment adjusted EBITDA was $205 million, benefiting from increased contributions from dealer software and technology services, offset by underperformance in construction due to weather-related delays [18] - Infrastructure services segment adjusted EBITDA was $143 million, down from $225 million, impacted by the sale of nuclear technology services operations [19] Market Data and Key Metrics Changes - The company has generated approximately $300 million in proceeds from capital recycling initiatives since the start of the year, with a total of $6 billion from monetizing 20 businesses since going public [6][7] - The company noted that while there is volatility in global capital markets due to inflation and geopolitical tensions, activity levels are picking up [7][8] Company Strategy and Development Direction - The company is focusing on capital recycling initiatives and has created an AI value creation office to leverage machine learning across operations [6][9] - DexKo, a key business, is pursuing strategic add-on acquisitions to expand its distribution network and e-commerce offerings [15] - The company is exploring opportunities in AI to enhance productivity while ensuring that human judgment remains central to its investment philosophy [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the performance of Clarios, which is approaching $2 billion in EBITDA, and is considering various monetization options [22][23] - The company is optimistic about the recovery of profitability in DexKo as customer inventory levels normalize [15] - Management acknowledged challenges in the short term for Healthscope but remains confident in its long-term potential [45] Other Important Information - The company ended the quarter with approximately $1.6 billion in liquidity and no significant debt maturities in the next 12 months, providing flexibility for growth [19] Q&A Session Summary Question: Insights on Clarios' performance sustainability - Management highlighted that Clarios is approaching $2 billion in EBITDA and continues to see opportunities for improvement, with various monetization options available [22][23] Question: Update on CDK's value creation progress - Management noted that CDK has improved margins significantly ahead of schedule and is focusing on technology enhancements before monetization [25][27] Question: Impact of weather-related delays on construction projects - Management acknowledged challenges due to weather-related events but emphasized improved management and contract adjustments to mitigate future risks [29] Question: Future of Healthscope - Management remains confident in Healthscope's long-term potential despite short-term challenges, focusing on executing improvement plans [45] Question: Continued monetization of smaller legacy assets - Management confirmed plans to continue monetizing smaller businesses where value creation plans have been realized, with a conducive market environment for such actions [43]

Core Insights - Brookfield Business Partners will hold its 2024 First Quarter Conference Call & Webcast on May 3, 2024, at 10:00 a.m. Eastern Time to discuss results and business initiatives [1][2] - Results will be released on the same day prior to 8:00 a.m. Eastern Time and will be accessible on the company's website [1] - Brookfield Business Partners operates as a global business services and industrials company, focusing on high-quality businesses that provide essential products and services [2] Company Overview - Brookfield Business Partners is the flagship listed vehicle of Brookfield Asset Management's Private Equity Group [2] - Brookfield Asset Management manages over $900 billion in assets, positioning itself as a leading global alternative asset manager [2] - Investors can choose to invest through Brookfield Business Corporation or Brookfield Business Partners L.P. [2]

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: ...

Core Viewpoint - Brookfield Business Partners has filed its 2023 annual reports, including audited financial statements, with the SEC and Canadian securities authorities, indicating a commitment to transparency and regulatory compliance [1]. Company Overview - Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services, benefiting from a strong competitive position [3]. - The company offers investors flexibility to invest through either Brookfield Business Corporation or Brookfield Business Partners L.P., highlighting its dual structure [3]. - Brookfield Business Partners serves as the flagship listed vehicle of Brookfield Asset Management's Private Equity Group, which manages over $900 billion in assets [3]. Reporting and Accessibility - The 2023 annual reports and previous audited and unaudited reports are available on the company's website and through SEC and SEDAR+ platforms, ensuring accessibility for investors [4]. - Hard copies of the annual and quarterly reports can be requested free of charge, demonstrating the company's commitment to shareholder communication [4].

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]