Welcome to our dedicated page for Brookfield Business Partners news (Ticker: BBU), a resource for investors and traders seeking the latest updates and insights on Brookfield Business Partners stock.
Brookfield Business Partners LP (BBU) operates globally across business services, infrastructure, and industrial sectors, focusing on essential operations with sustainable competitive advantages. This page provides investors and stakeholders with direct access to official press releases, financial updates, and strategic developments.
Find timely updates on earnings reports, mergers & acquisitions, leadership changes, and operational milestones. Our curated collection ensures you stay informed about BBU's initiatives in critical markets worldwide, from North America to emerging economies.
Key areas covered include cost-efficiency improvements, infrastructure project developments, and portfolio diversification efforts. Bookmark this page for streamlined access to verified information supporting informed analysis of BBU's performance in complex industrial and service sectors.
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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