Welcome to our dedicated page for Brookfield Business Partners L.P.Limited Partnership Units news (Ticker: BBU), a resource for investors and traders seeking the latest updates and insights on Brookfield Business Partners L.P.Limited Partnership Units stock.
Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN) is a global leader in business services and industrial operations. The company focuses on owning and operating high-quality businesses that provide essential products and services, benefiting from strong competitive positions. As the flagship listed vehicle of Brookfield Asset Management's Private Equity Group, Brookfield Business Partners has a diverse portfolio catering to multiple industries, including business services, infrastructure services, and industrial sectors.
One of the company's core strengths lies in its diversified portfolio, which includes significant investments in the United Kingdom, United States, Europe, Australia, Canada, Brazil, Mexico, and various other countries. Through these investments, Brookfield Business Partners aims to create long-term value for its shareholders by operating businesses that are low-cost producers and benefit from high barriers to entry.
Recent achievements highlight Brookfield Business Partners' commitment to growth and innovation. For instance, the company is a key investor in Everise, a leading global healthcare services outsourcing company. This partnership is set to accelerate Everise's expansion and market reach, further solidifying Brookfield Business Partners' role in the healthcare sector. Additionally, the company's subsidiary, Clarios, has secured a significant supplier contract for its new high-performance AGM battery, which aims to reduce fuel consumption and CO2 emissions in vehicles.
Brookfield Business Partners is not just about financial growth; it also emphasizes sustainability and innovation. Their ongoing projects and investments are geared towards creating sustainable and efficient solutions across various industries. With a strong financial backbone supported by Brookfield Asset Management, the company is well-positioned to capitalize on emerging opportunities and deliver consistent performance.
For more information about Brookfield Business Partners and their latest updates, visit their official website at bbu.brookfield.com.
Brookfield Business Partners reported strong Q3 2024 financial results with net income of $301 million ($1.39 per unit) compared to a net loss of $44 million in Q3 2023. Adjusted EBITDA increased to $844 million from $655 million year-over-year. The company generated over $350 million from distributions and monetizations, including a significant sale of its offshore oil services operation. The Industrials segment showed notable growth with Adjusted EBITDA of $500 million, benefiting from a $296 million U.S. IRA benefit. The company ended the quarter with approximately $1.5 billion in corporate liquidity and declared a quarterly distribution of $0.0625 per unit.
Brookfield Business Partners has announced its Third Quarter 2024 Conference Call & Webcast, scheduled for Friday, November 8, 2024, at 10:00 a.m. (ET). The company will release its results prior to 8:00 a.m. (ET) on the same day, which will be available on their website. Participants can join via conference call or webcast, with pre-registration required for both options.
Brookfield Business Partners is a global business services and industrials company focusing on high-quality businesses providing essential products and services. Investors can invest through Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN) or Brookfield Business (NYSE, TSX: BBUC). The company is part of Brookfield Asset Management's Private Equity Group, a leading global alternative asset manager with approximately $1 trillion of assets under management.
Brookfield Business Partners (NYSE: BBU, BBUC; TSX: BBU.UN, BBUC) has announced the renewal of its normal course issuer bids for Units and Exchangeable Shares. The Toronto Stock Exchange has accepted notices for both. The company is authorized to purchase up to 3,714,088 Units and 3,647,722 Exchangeable Shares, representing 5% of the issued and outstanding securities. Purchases can commence on August 19, 2024, and will terminate on August 18, 2025, or earlier if completed before. The company believes this may represent an attractive use of funds when securities trade below their value. Purchases will be made through various trading systems, subject to daily limits and compliance with securities laws. Brookfield has entered into automatic repurchase plans to allow purchases during blackout periods.
Brookfield Business Partners (NYSE: BBU, BBUC; TSX: BBU.UN, BBUC) reported Q2 2024 results. Net loss attributable to unitholders was $20 million ($0.10 loss per unit), improving from a $48 million loss in Q2 2023. Adjusted EBITDA fell to $524 million from $606 million in the previous year. Segment-wise, Industrials saw improved Adjusted EBITDA at $213 million, while Business Services and Infrastructure Services declined to $182 million and $157 million, respectively. Strategic actions include debt refinancings and selling the Canadian aggregates production operation for $140 million. Additionally, liquidity stood at $1.6 billion, and a quarterly distribution of $0.0625 per unit was announced.
Brookfield Business Partners (NYSE: BBUC, BBU; TSX: BBUC, BBU.UN) provided an update on restoring systems at CDK Global, its dealer software and technology services operation. On June 19, CDK detected unauthorized cyber activity and swiftly shut down systems, engaged third-party experts, and notified law enforcement. Substantially all customers have been brought back onto CDK's core dealer management system ahead of the U.S. July 4 holiday weekend. The company is working to restore other applications, including CRM and Services solutions. CDK is actively supporting its customers' sales and service efforts during this period. Brookfield does not expect this incident to materially impact its business. CDK, acquired by Brookfield in 2022, leads in providing software solutions to automotive dealers and has invested significantly in technology and product offerings.
Brookfield Business Partners (BBU) has announced its 2024 Second Quarter Conference Call and Webcast for investors and analysts.
The event is scheduled for August 2, 2024, at 10:00 a.m. (Eastern Time).
Results will be released earlier that day before 8:00 a.m. (Eastern Time) on their website.
Participants can join the conference call by pre-registering to obtain a dial-in number, passcode, and unique PIN, or join via webcast.
Brookfield Business Partners, a global business services and industrials company, is the flagship vehicle of Brookfield Asset Management’s Private Equity Group, which manages over $925 billion in assets.
Brookfield Business Partners (BBU) announced strong first-quarter financial results for 2024, with $300 million in net proceeds from capital recycling initiatives. The company's Adjusted EBITDA was $544 million, a decrease from the prior year, due to the sale of a nuclear technology services operation. While the Industrials segment saw improved performance, the Infrastructure Services segment faced challenges. Strategic initiatives included agreements to sell operations and refinancing activities. With $1.6 billion in liquidity, the company declared a quarterly distribution of $0.0625 per unit.
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