BBU - Brookfield Business Partners stock surges after Q2 earnings easily beat consensus

Brookfield Business Partners ( NYSE: BBU ) stock is soaring 32% to its highest since mid-April in Friday premarket trading after the private equity firm's Q2 earnings easily surpassed Wall Street expectations, highlighting strength in its Infrastructure Services and Industrials segments in which both benefited from new acquisitions.

Adjusted EPS of $0.65 at the end of June breezed past the average analyst estimate of $0.02 and jumped from a loss of $0.63 in the year-ago quarter.

Similarly, revenue of $14.63B exceeded the consensus of $13.66B and climbed from $11.24B at June 30, 2021.

Q2 Infrastructure Services adjusted EBITDA surged to $205M from $125M a year ago, reflecting new acquisitions and increased contribution from offshore oil services.

Industrials adjusted EBITDA was $204M, up from $145M in Q2 2021, driven by new acquisitions, partially offset by losses at our automotive aftermarket parts remanufacturer.

Adjusted EBITDA for Business Services of $166M in Q2 vs. $145M in Q2 2021, benefiting from its entertainment operations and the contribution of its Australian residential mortgage lending services operation.

Consolidated adjusted EBITDA was $543M at June 30, compared with $381M at June 30, 2021.

The company's board of directors declared a quarterly dividend of $0.0625 per share, payable on September 29 to shareholders of record as of the close of business on August 31.

Conference call at 10:00 a.m. ET.

In May, Brookfield Business Partners declared a quarterly dividend of $0.0625 per share .

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