Brookfield Business Corporation Reports Strong First Quarter 2026 Results

BROOKFIELD, NEWS, May 08, 2026 (GLOBE NEWSWIRE) -- Brookfield Business Corporation (NYSE, TSX: BBUC) announced today financial results for the quarter ended March 31, 2026.

"Three things defined our quarter," said Anuj Ranjan, CEO of Brookfield Business Corporation. "Clarios received $1 billion of cash tax credits, with similar amounts expected annually through the end of the decade. We sold a 27% interest in La Trobe, generating a 3x multiple of our original investment only four years after acquiring it. We also committed $500 million with our partners alongside OpenAI in The OpenAI Deployment Company, a new platform built to deploy enterprise AI inside real operating businesses."

He added, "We run a simple business: we buy, build, and operate essential industrial and services companies with a goal of compounding capital in them at excellent returns. Our business and investment approach is built for this environment, and demand for essential services and industrial businesses has rarely been stronger. We expect our strong start to continue throughout 2026, positioning us well to keep compounding capital for our shareholders."

Brookfield Business Corporation reported Net income attributable to Shareholders for the three months ended March 31, 2026 of $40 million ($0.19 per Class A Share), compared to $80 million ($0.38 per Class A Share) in the prior period.

Operating Results

Our business performed well during the quarter. Adjusted EBITDA was $582 million, compared to $591 million in the prior period, which included $72 million of tax credits and $51 million of contribution from disposed operations. Excluding the impact of acquisitions, dispositions, and tax credits, Adjusted EBITDA was $488 million, an approximate 5% increase over the prior year.

Our Industrials segment generated $320 million of Adjusted EBITDA, an increase of 7% over the prior year excluding the impact of recent acquisitions, dispositions, and tax credits. Results benefited from strong performance at our advanced energy storage operation and at our engineered components manufacturer which delivered more than 10% same-store growth in Adjusted EBITDA over the prior year driven by commercial actions and cost initiatives.

Business Services segment Adjusted EBITDA was $208 million, an increase of 7% compared to the prior year excluding the impact of recent acquisitions and dispositions. Performance included solid results and realized investment gains at our residential mortgage insurer which continues to perform well despite an overall weaker Canadian housing market.

Our Infrastructure Services segment Adjusted EBITDA was $90 million. Prior year included contribution from our offshore oil services’ shuttle tanker operation which was sold in January 2025. Results were supported by our lottery services operation driven by the ramp-up of recently secured contracts and stable performance at our modular building leasing services operation which benefited from increased sales of value-added products and services during the quarter.

Adjusted EFO 4 included the benefit of lower current taxes at our advanced energy storage operation. Prior year Adjusted EFO included a $114 million net gain from the disposition of the shuttle tanker operation at our offshore oil services operation and the impact of withholding taxes on a distribution received from our advanced energy storage operation.

Growth and Value Creation

We are executing on our strategy to buy, build, and operate essential industrial and services businesses with the goal of compounding large scale capital over the long-term. Opportunistically, we monetize to realize value. We made excellent progress on all fronts during the quarter.

In addition, we completed our previously announced corporate simplification, an important step toward improving the liquidity and index demand for our shares. The newly issued Class A Shares of Brookfield Business Corporation began trading on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "BBUC" on March 31, 2026.

Balance Sheet and Liquidity

Our balance sheet remains well capitalized, with liquidity at the end of the first quarter totaling $2 billion, including $1.9 billion of availability on our credit facilities. Pro forma for announced and recently closed transactions, corporate liquidity is approximately $2.4 billion.

Our liquidity position gives us significant flexibility to support our growth and balanced capital allocation priorities. During the quarter we completed the $250 million buyback program launched in February last year. We have deployed approximately $285 million toward repurchases since that time, including approximately $65 million of repurchases during and subsequent to quarter end.

Dividend

The Board of Directors has declared a quarterly dividend in the amount of $0.0625 per Class A Share, payable on June 30, 2026 to shareholders of record as at the close of business on May 29, 2026.

Additional Information

The Board has reviewed and approved this news release, including the summarized unaudited interim condensed consolidated financial statements contained herein.

Brookfield Business Corporation's Supplemental Information is available on our website https://bbuc.brookfield.com under Reports & Filings.

Notes:

Brookfield Business Corporation (NYSE, TSX: BBUC) is a global owner and operator of vital industrial and business services operations. Our objective is to acquire market-leading businesses for value, execute our operational improvement plans to increase cash flows, and recycle capital to compound long-term growth. For more information, please visit https://bbuc.brookfield.com.

Brookfield Business Corporation is the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with over $1 trillion of assets under management.

Please note that Brookfield Business Corporation's previous audited annual and unaudited quarterly reports have been filed on SEDAR+ and EDGAR and are available at https://bbuc.brookfield.com under Reports & Filings. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.

For more information, please contact:

Conference Call and Quarterly Earnings Webcast Details

Investors, analysts, and other interested parties can access Brookfield Business Corporation's first quarter 2026 results as well as the Supplemental Information on our website https://bbuc.brookfield.com under Reports & Filings.

The results call can be accessed via webcast on May 8, 2026 at 11:00 a.m. Eastern Time at BBU2026Q1Webcast or participants can preregister at BBU2026Q1ConferenceCall. Upon registering, participants will be emailed a dial-in number and unique PIN. A replay of the webcast will be available at https://bbuc.brookfield.com.

Notes:

Cautionary Statement Regarding Forward-looking Statements and Information

Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of Brookfield Business Corporation, expected future dividends, as well as regarding recently completed and proposed acquisitions, dispositions, and other transactions, and the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “intends”, “targets”, “projects”, “forecasts”, “views”, “potential”, “likely” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”.

Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, investors and other readers should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Business Corporation to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us or are within our control. If a change occurs, our business, financial condition, liquidity and results of operations and our plans and strategies may vary materially from those expressed in the forward-looking statements and forward-looking information herein.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: the cyclical nature of our operating businesses and general economic conditions and risks relating to the economy, including unfavorable changes in interest rates, foreign exchange rates, inflation and volatility in the financial markets; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including our ability to complete dispositions and achieve the anticipated benefits therefrom; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the ability to appropriately manage human capital; the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation within the countries in which we operate; changes to U.S. laws or policies, including changes in U.S. domestic economic policies and foreign trade policies and tariffs; governmental investigations; litigation; changes in tax laws; ability to collect amounts owed; catastrophic events, such as earthquakes, hurricanes and pandemics/epidemics; cybersecurity incidents; the possible impact of international conflicts, wars and related developments including terrorist acts and cyber terrorism; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States including those set forth in the “Risk Factors” section in the annual report for the year ended December 31, 2025 filed by Brookfield Business Corporation on Form 20-F.

Statements relating to “reserves” are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described herein can be profitably produced in the future. We qualify any and all of our forward-looking statements by these cautionary factors.

We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

Cautionary Statement Regarding the Use of a Non-IFRS Measure

This news release contains references to a Non-IFRS measure. Adjusted EBITDA is not a generally accepted accounting measure under IFRS and therefore may differ from definitions used by other entities. We believe this is a useful supplemental measure that may assist investors in assessing the financial performance of Brookfield Business Corporation and its subsidiaries. However, Adjusted EBITDA should not be considered in isolation from, or as a substitute for, analysis of our financial statements prepared in accordance with IFRS.

References to Brookfield Business Corporation are inclusive of its subsidiaries, controlled affiliates, and operating entities. Shareholders' results include class A subordinate voting shares, class B multiple voting shares, and special incentive shares. For the periods prior to the completion of the corporate reorganization on March 27, 2026, reflects amounts previously attributable to limited partnership unitholders, redemption-exchange unitholders, exchangeable shareholders, general partnership unitholders, and special limited partnership unitholders. More detailed information on certain references made in this news release will be available in our Management’s Discussion and Analysis of Financial Condition and Results of Operations in our interim report for the first quarter ended March 31, 2026 furnished on Form 6-K.