Brookfield Business Partners LP
Brookfield Business Partners LP Q4 FY2024 earnings call
January 31, 2025 · fiscal period ended 2024-12
EPS · actual vs est
Revenue · actual vs est
Summary
Generated 2025-01-31
Management highlights
Anuj Ranjan highlighted progress in building value, record adjusted EBITDA, capital recycling including $1.2 billion from Clarios upfinancing, announced a $250 million share buyback, and completed acquisition of Chemelex. Mark Wallace discussed Clarios' market leadership, growth in aftermarket, battery technology advancements, connected services, and investments in US facilities. Jaspreet Dehl provided financial results, balance sheet strength, and detailed segment performance.
Segment performance
Industrial segment: Full year adjusted EBITDA of $1.2 billion (up from $855 million in 2023), driven by advanced energy storage and Brazilian water/wastewater services. Business Services segment: Full year adjusted EBITDA of $832 million (down from $900 million in 2023), impacted by dispositions and technology upgrades. Infrastructure Services segment: Full year adjusted EBITDA of $606 million (down from $853 million in 2023), impacted by disposal of nuclear technology and reduced market activity.
Guidance
Announced a new $250 million share buyback program. Continued to invest in new opportunities and strategic acquisitions, including the acquisition of Chemelex.
Risks
Geopolitical and economic uncertainty. Potential impact of technological shifts on business. Financial leverage challenges in some segments like Scientific Games.
Q&A highlights
Q: Devin Dodge asked Mark Wallace about Clarios content per vehicle and future opportunities.
A: Mark Wallace discussed increased content per vehicle due to vehicle electrical demand and autonomous features.
Q: Gary Ho asked about Clarios connected services and buyback.
A: Mark Wallace talked about connected services benefits and Jaspreet Dehl discussed buyback program and liquidity.
Q: Nik Priebe asked about vehicle architecture and tax credits.
A: Mark Wallace addressed vehicle voltage needs and Jaspreet Dehl discussed tax credit eligibility.
Q: Nelson Ng asked about M&A and reindustrial revolution.
A: Anuj Ranjan discussed M&A pipeline and reindustrialization impact.
Q: Jaeme Gloyn asked about DexKo and CDK.
A: Adrian Letts and Jaspreet Dehl provided insights on DexKo and CDK's challenges and investments.
Key numbers
Reported versus consensus
Earnings calendar feed
| Metric | Reported | Consensus | Delta | Prior year |
|---|---|---|---|---|
| EPS | $-2.02 | $0.14 | -1542.9% | $6.57 |
| Revenue | $9.23B | $4.22B | +118.9% | $13.78B |
Transcript
January 31, 2025Full transcript unavailable for redistribution
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