BBU - Brookfield Business Partners Q2 earnings beat on strategic M&As
Brookfield Business Partners (NYSE:BBU) Q2 revenue exceeds expectations, while EBITDA rose Y/Y but fell short on the consensus estimate. Q2 revenue of $11.24B beats the $11.1B average of two analyst estimates and rose from $7.4B in Q2 of last year. Q2 EBITDA of $381M fell short of the Bloomberg consensus estimate of $407M but still up from $286M in Q2 2020; reflects increased contribution from the Business Services and Industrial segments, partially offset by Infrastructure Services. Business Services EBITDA of $145M increased from $64M in the year-ago quarter. Industrials EBITDA of $145M vs. $98M in Q2 2020. Infrastructure Services of $125M, compared with $148M in the year-ago quarter. Q2 company FFO per share, excluding gain/loss on acquisitions/dispositions, of $1.40 increased from $1.15 in the year-ago quarter. "We reached agreements to acquire three new businesses and announced plans to adapt our corporate structure that should broaden our investor appeal," CEO Cyrus Madon
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Brookfield Business Partners Q2 earnings beat on strategic M&As