From GlobeNewswire: 2024-05-03 06:45:00

Brookfield Business Partners reported financial results for the quarter ended March 31, 2024. Net income attributable to Unitholders was $48 million, with Adjusted EBITDA at $544 million. Segment performance showed growth in Industrials, steady results in Business Services, and a decline in Infrastructure Services due to the sale of a nuclear technology operation in 2023.

The company completed the sale of Canadian aggregates production and UK/European assets of a road fuels operation, generating approximately $390 million in total net proceeds. BrandSafway, the work access services operation, successfully repriced a $1.3 billion term loan at a reduced interest rate post quarter end.

Brookfield Business Partners ended the quarter with $1.6 billion in liquidity, including cash and securities. The Board declared a quarterly distribution of $0.0625 per unit. Adjusted EFO for the period showed increased contributions from Industrials and Business Services, offset by changes in Infrastructure Services and Business Services interest expenses.

Overall, Brookfield Business Partners continues to demonstrate strong financial performance across its segments. Investments in strategic initiatives such as capital recycling and refinancing have positively impacted results, reinforcing the company’s commitment to value creation and growth. Shareholders can expect a quarterly distribution payment at the end of June 2024.



Read more at GlobeNewswire:: Brookfield Business Partners Reports First Quarter 2024