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Brookfield Business Partners (BBU) investor relations material
Brookfield Business Partners Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 net income attributable to shareholders was $18M, or $0.09 per share, versus a $59M loss, or $0.28 loss per share, a year earlier; Adjusted EBITDA rose to $594M from $575M.
Capital recycling generated $1.4B since the start of 2026, advancing toward a target of more than $2B; pro forma liquidity was $2.7B.
Clarios recorded a fourth consecutive year of record results and is expanding advanced-battery, supercapacitor and connected-service growth platforms.
Financial highlights
Q3 proportionate revenue was $2.646B, down $30M year over year; consolidated revenue was $6.995B versus $6.919B.
Adjusted EBITDA was $594M versus $575M; excluding acquired and disposed operations, it was $574M versus $561M. Nine-month Adjusted EBITDA was $1.763B versus $1.757B.
Adjusted EFO was $337M versus $284M; excluding disposition gains and losses, it was $293M versus $268M. Nine-month Adjusted EFO was $905M versus $863M.
Net income attributable to shareholders was $18M; consolidated net income was $242M versus a $122M loss in Q3 2025.
Outlook and guidance
Capital recycling reached $1.4B year to date, with a target to exceed $2B over two years; proceeds and portfolio opportunities support further reinvestment.
Clarios expects advanced-technology automotive launches from 2028, full ramp-up around 2030 and has over $2B of contractual backlog in that area.
Two new Clarios factories are intended to meet near-term data-center demand; growth platforms are expected to expand its addressable market from $32B to $52B by 2040.
Leading indicators supported Evergreen Fund fundraising momentum through 2027, with wealth-channel inflows typically following platform onboarding and distribution activity.
- 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.BBU
Investor presentation - Q2 net income up, $1.2B asset sales, $587M EBITDA, and $2.8B liquidity drive growth.BBU
Q2 2026 - US$1.5 billion equity shelf targets global business growth amid detailed risk and governance disclosures.BBU
Registration filing - Q1 2026 driven by $1B tax credits, asset sales, and strategic AI investment, boosting liquidity.BBU
Q1 2026 - Plans to raise up to $1.5B in equity for global operations, with broad risk disclosures.BBU
Registration filing - Reported $2.4B Adjusted EBITDA in 2025 and doubled NAV per unit over five years.BBU
Investor presentation - Targeting $2B in proceeds and $800M+ free cash flow, with strong upside over 3-5 years.BBU
Investor Day 2024 - Q2 2024 delivered improved net loss, $524M EBITDA, and strong liquidity amid asset sales and one-time impacts.BBU
Q2 2024
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