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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Brookfield Business Partners
Brookfield Business Partners (BBU) investor relations material
Brookfield Business Partners has been private
Brookfield Business Partners Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 net income attributable to shareholders was $18m, or $0.09 per Class A Share, versus a $59m loss, or a $0.28 loss per share, a year earlier.
Adjusted EBITDA rose to $594m from $575m; Industrials led segment growth while Infrastructure Services declined.
Capital recycling proceeds reached $1.4bn year to date, with a two-year target to exceed $2bn; Clarios outlined growth opportunities in advanced batteries, data centers and connected services.
Financial highlights
Q3 proportionate revenue was $2.646bn, down $30m year over year; reported revenue was $6.995bn versus $6.919bn.
Adjusted EBITDA was $594m versus $575m; excluding acquired and disposed operations, it was $574m versus $561m.
Adjusted EFO was $337m versus $284m; excluding disposition gains and losses, it was $293m versus $268m.
Nine-month Adjusted EBITDA was $1.763bn versus $1.757bn, and Adjusted EFO was $905m versus $863m.
Adjusted EBITDA margin was 22%, up from 21%; net income was $242m versus a $122m loss, on a consolidated basis.
Outlook and guidance
Asset-sale and distribution proceeds were $1.4bn year to date; the two-year capital-recycling target is to exceed $2bn, with proceeds available for higher-return investments.
Annualized Adjusted EBITDA run rate was estimated at $2.5bn; asset sales reduce the estimate by ~$100m, while acquisitions and pipeline deals are expected to bring it close to $2.5bn.
Clarios has more than $2bn of contractual backlog in advanced automotive technology, with launches beginning in 2028 and full ramp-up expected around 2030.
Two factories are planned over the next 18 months for data-center demand; Clarios estimates its addressable market could grow from $32bn to $52bn by 2040.
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Latest events from Brookfield Business Partners
- AI-powered growth and capital recycling drive value creation, targeting $6B+ proceeds in five years.BBU
Investor Day 2026 - Doubled NAV per share in five years, with strong liquidity and disciplined capital allocation.BBUInvestor presentation
- Q2 net income up, $1.2B asset sales, $587M EBITDA, and $2.8B liquidity drive growth.BBUQ2 2026
- US$1.5 billion equity shelf targets global business growth amid detailed risk and governance disclosures.BBURegistration filing
- Q1 2026 driven by $1B tax credits, asset sales, and strategic AI investment, boosting liquidity.BBUQ1 2026
- Plans to raise up to $1.5B in equity for global operations, with broad risk disclosures.BBURegistration filing
- Reported $2.4B Adjusted EBITDA in 2025 and doubled NAV per unit over five years.BBUInvestor presentation
- Targeting $2B in proceeds and $800M+ free cash flow, with strong upside over 3-5 years.BBUInvestor Day 2024
- Q2 2024 delivered improved net loss, $524M EBITDA, and strong liquidity amid asset sales and one-time impacts.BBUQ2 2024
Next Brookfield Business Partners earnings date
Q4 202629 Jan, 2027
Brookfield Business Partners
Next Brookfield Business Partners earnings date
Q4 202629 Jan, 2027
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Frequently asked questions
Brookfield Business Partners L.P. is a private equity firm and global asset manager specializing in the acquisition of businesses valued at $500 million to $15 billion. We provide our portfolio companies with strategic and operational advice, and take an active role in improving growth and profitability.Brookfield Business Partners has 31 offices in 17 countries throughout North America, Europe, Asia Pacific and India, resulting in a truly global platform to serve its investors, business partners, employees and clients. Brookfield Business Partners L.P. operates as a subsidiary of Brookfield Asset Management Inc.