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 L.P. news covers its role as a global business services and industrials owner and operator associated with Brookfield Asset Management’s Private Equity Group. Recurring updates include operating and financial results, distributions and dividends, security-structure matters, material agreements, and the completed corporate simplification that moved BBU unitholders into Brookfield Business Corporation shares.
Company news also includes portfolio-business developments, including Clarios, an advanced low-voltage battery technology business with battery recycling and critical mineral processing initiatives.
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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.