Quarterly ResultMay 8, 2026, 06:46 AM
Brookfield Business Q1 Net Income $40M; Clarios $1B Tax Credit; La Trobe Sale
AI Summary
Brookfield Business Corporation reported first-quarter 2026 financial results, with net income attributable to Shareholders at $40 million, down from $80 million year-over-year, and Adjusted EBITDA at $582 million. However, Adjusted EBITDA, excluding the impact of acquisitions, dispositions, and tax credits, increased by approximately 5%. The quarter was defined by several strategic achievements, including Clarios receiving $1 billion in cash tax credits, the sale of a 27% interest in La Trobe Financial for a 3x multiple and over 35% IRR, and a $500 million commitment to The OpenAI Deployment Company. The company also completed its corporate simplification, increasing trading volumes by 40%, and declared a quarterly dividend.
Key Highlights
- Clarios received $1 billion in cash tax credits, with similar amounts expected annually through 2030.
- Sold 27% interest in La Trobe Financial, generating 3x original investment and over 35% IRR.
- Committed $500 million with partners to The OpenAI Deployment Company for enterprise AI deployment.
- Net income attributable to Shareholders was $40 million ($0.19 per Class A Share), down from $80 million YoY.
- Adjusted EBITDA was $582 million, compared to $591 million in the prior period.
- Excluding acquisitions, dispositions, and tax credits, Adjusted EBITDA increased approximately 5% to $488 million.
- Industrials segment Adjusted EBITDA increased 7% to $320 million (excluding impacts).
- Declared a quarterly dividend of $0.0625 per Class A Share.
- Completed $250 million buyback program, deploying approximately $285 million in repurchases.