Brookfield Business Partners L.P. LP Units (NYSE:BBU) Q2 2024 Earnings Conference Call August 2, 2024 10:00 AM ET Company Participants Alan Fleming - Head-Investor Relations Anuj Ranjan - Chief Executive Officer Paul Lepage - Managing Director Jaspreet Dehl - Managing Partner & Chief Financial Officer Adrian Letts - Managing Partner & Senior Leader-Business Operations Conference Call Participants Geoffrey Kwan - RBC Capital Markets Devin Dodge - BMO Capital Markets Gary Ho - Desjardins Capital Markets Jaeme ...

BROOKFIELD, NEWS, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Brookfield Business Partners (NYSE:BBU, BBUC, TSX:BBU, BBUC))) announced today financial results for the quarter ended June 30, 2024. "Our business fundamentals remain sound and we are pleased with the performance of many of our larger operations," said Anuj Ranjan, CEO of Brookfield Business Partners. "Financial results were strong but impacted by a couple of one-time events this quarter. We continue to build value across our operations which will drive e ...

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].