Brookfield Business Corporation Reports Strong Second Quarter 2026 Results

Jul 31, 2026

Associated Files

Title	Document
English	download icon

Back to Press Releases

	Three Months Ended June 30,				Six Months Ended June 30,
US$ millions (except per share amounts), unaudited	2026		2025		2026		2025
Net income attributable to Shareholders¹	$	37	$	26	$	77	$	106
Net income per Class A Share²	$	0.18	$	0.12	$	0.37	$	0.50

Adjusted EBITDA³	$	587	$	591	$	1,169	$	1,182

	Three Months Ended June 30,						Six Months Ended June 30,
US$ millions, unaudited	2026			2025			2026			2025
Industrials	$	323		$	307		$	643		$	611
Business Services		204			205			412			418
Infrastructure Services		96			109			186			213
Corporate		(36	)		(30	)		(72	)		(60	)
Adjusted EBITDA	$	587		$	591		$	1,169		$	1,182

	Three Months Ended June 30,						Six Months Ended June 30,
US$ millions, unaudited	2026			2025			2026			2025
Adjusted EFO
Industrials	$	222		$	154		$	428		$	284
Business Services		118			105			243			222
Infrastructure Services		28			38			50			204
Corporate		(79	)		(63	)		(153	)		(131	)

Notes:
1	Attributable to Class A subordinate voting shareholders, Class B multiple voting shareholders, and special incentive shareholders. 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.
2	Net income (loss) per Class A Share calculated as net income (loss) attributable to Class A shareholders divided by the weighted average number of Class A Shares outstanding for the three and six months ended June 30, 2026, which were 206.2 million and 207.0 million, respectively (June 30, 2025: 211.0 million and 213.3 million, respectively, adjusted for the corporate reorganization completed in March 2026). Comparative figures have been restated to conform to the current year's presentation.
3	Adjusted EBITDA is a non-IFRS measure of operating performance presented as net income and equity accounted income at the Corporation's economic ownership interest in consolidated subsidiaries and equity accounted investments, respectively, excluding the impact of interest income (expense), net, income taxes, depreciation and amortization expense, gains (losses) on dispositions, net, transaction costs, restructuring charges, revaluation gains or losses, impairment expenses or reversals, other income or expenses, and preferred equity distributions. The Corporation's economic ownership interest in consolidated subsidiaries and equity accounted investments excludes amounts attributable to non-controlling interests consistent with how the Corporation determines net income attributable to non-controlling interests in its unaudited interim condensed consolidated statements of operating results. The Corporation believes that Adjusted EBITDA provides a comprehensive understanding of the ability of its businesses to generate recurring earnings which allows users to better understand and evaluate the underlying financial performance of the Corporation's operations and excludes items that the Corporation believes do not directly relate to revenue earning activities and are not normal, recurring items necessary for business operations. Please refer to the reconciliation of net income (loss) to Adjusted EBITDA included in this news release.
4	Adjusted EFO is the Corporation's segment measure of profit or loss and is presented as net income and equity accounted income at the Corporation's economic ownership interest in consolidated subsidiaries and equity accounted investments, respectively, excluding the impact of depreciation and amortization expense, deferred income taxes, transaction costs, restructuring charges, unrealized revaluation gains or losses, impairment expenses or reversals and other income or expense items that are not directly related to revenue generating activities. The Corporation's economic ownership interest in consolidated subsidiaries excludes amounts attributable to non-controlling interests consistent with how the Corporation determines net income attributable to non-controlling interests in its unaudited interim condensed consolidated statements of operating results. In order to provide additional insight regarding the Corporation's operating performance over the lifecycle of an investment, Adjusted EFO includes the impact of preferred equity distributions and realized disposition gains or losses recorded in net income, other comprehensive income, or directly in equity, such as ownership changes. Adjusted EFO does not include legal and other provisions that may occur from time to time in the Corporation's operations and that are one-time or non-recurring and not directly tied to the Corporation's operations, such as those for litigation or contingencies. Adjusted EFO includes expected credit losses and bad debt allowances recorded in the normal course of the Corporation's operations. Adjusted EFO allows the Corporation to evaluate its segments on the basis of return on invested capital generated by its operations and allows the Corporation to evaluate the performance of its segments on a levered basis.

	Brookfield Business Corporation Consolidated Statements of Operating Results

		Three Months Ended June 30,						Six Months Ended June 30,
	US$ millions, unaudited	2026			2025			2026			2025

	Revenues	$	6,497		$	6,695		$	12,933		$	13,444
	Direct operating costs		(5,224	)		(5,465	)		(10,350	)		(10,867	)
	General and administrative expenses		(289	)		(271	)		(585	)		(582	)
	Interest income (expense), net		(739	)		(801	)		(1,505	)		(1,571	)
	Equity accounted income (loss)		(6	)		23			5			15
	Impairment reversal (expense), net		—			(14	)		5			(14	)
	Gain (loss) on dispositions, net		1			6			1			220
	Other income (expense), net		(170	)		(103	)		(146	)		(186	)
	Income (loss) before income tax		70			70			358			459
	Income tax (expense) recovery
	Current		(147	)		(119	)		(257	)		(316	)
	Deferred		170			184			208			248
	Net income (loss)	$	93		$	135		$	309		$	391
	Attributable to:
	Class A shareholders¹	$	37		$	26		$	77		$	106
	Non-controlling interests attributable to:
	Preferred securities		13			13			26			26
	Interest of others in operating subsidiaries		43			96			206			259

Notes:
1.	For the periods prior to the completion of the corporate reorganization on March 27, 2026, reflects amounts previously attributable to limited partnership units, redemption-exchange units and exchangeable shares, which were exchanged for Class A Shares on a one-for-one basis.

Media: Marie Fuller Tel: +44 207 408 8375 Email: [email protected]	Investors: Alan Fleming Tel: +1 (416) 645 2736 Email: [email protected]

Brookfield Business Corporation Reconciliation of Non-IFRS Measure

		Three Months Ended June 30, 2026
	US$ millions, unaudited	Business Services			Infrastructure Services			Industrials			Corporate			Total

	Net income (loss)	$	148		$	(155	)	$	155		$	(55	)	$	93

	Add or subtract the following:
	Depreciation and amortization expense		198			180			397			—			775
	Gain (loss) on dispositions, net		(1	)		—			—			—			(1	)
	Other income (expense), net¹		(81	)		40			208			3			170
	Income tax (expense) recovery		28			1			(43	)		(9	)		(23	)
	Equity accounted income (loss)		(3	)		(2	)		11			—			6
	Interest income (expense), net		214			152			348			25			739
	Equity accounted Adjusted EBITDA²		34			31			36			—			101
	Amounts attributable to non-controlling interests³		(333	)		(151	)		(789	)		—			(1,273	)
	Adjusted EBITDA	$	204		$	96		$	323		$	(36	)	$	587

Notes:
1.	Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $77 million of expenses related to employee incentive payments linked to the realization of value at the Corporation’s operations, $75 million of net loss on debt modification and extinguishment, $60 million of net revaluation gains, $30 million of business separation expenses, stand-up costs and restructuring charges, $16 million of transaction costs and $32 million of other expenses.
2.	Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the Corporation that is generated by our investments in associates and joint ventures accounted for using the equity method.
3.	Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.

	Brookfield Business Corporation Reconciliation of Non-IFRS Measure

		Six Months Ended June 30, 2026
	US$ millions, unaudited	Business Services			Infrastructure Services			Industrials			Corporate			Total

	Net income (loss)	$	258		$	(286	)	$	442		$	(105	)	$	309

	Add or subtract the following:
	Depreciation and amortization expense		390			358			787			—			1,535
	Impairment reversal (expense), net		—			(5	)		—			—			(5	)
	Gain (loss) on dispositions, net		(1	)		—			—			—			(1	)
	Other income (expense), net¹		(129	)		53			214			8			146
	Income tax (expense) recovery		67			6			—			(24	)		49
	Equity accounted income (loss)		(11	)		(4	)		10			—			(5	)
	Interest income (expense), net		434			304			718			49			1,505
	Equity accounted Adjusted EBITDA²		67			59			62			—			188
	Amounts attributable to non-controlling interests³		(663	)		(299	)		(1,590	)		—			(2,552	)
	Adjusted EBITDA	$	412		$	186		$	643		$	(72	)	$	1,169

Notes:
1.	Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $121 million of net revaluation gains, $81 million of business separation expenses, stand-up costs and restructuring charges, $79 million of expenses related to employee incentive payments linked to the realization of value at the Corporation’s operations, $20 million of transaction costs, $9 million of net gains on debt modification and extinguishment and $96 million of other expenses.
2.	Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the Corporation that is generated by our investments in associates and joint ventures accounted for using the equity method.
3.	Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.

		Three Months Ended June 30, 2025
	US$ millions, unaudited	Business Services			Infrastructure Services			Industrials			Corporate			Total

	Net income (loss)	$	253		$	(173	)	$	95		$	(40	)	$	135

	Add or subtract the following:
	Depreciation and amortization expense		208			175			384			—			767
	Impairment reversal (expense), net		—			—			14			—			14
	Gain (loss) on dispositions, net		(6	)		—			—			—			(6	)
	Other income (expense), net¹		(200	)		76			229			(2	)		103
	Income tax (expense) recovery		9			10			(76	)		(8	)		(65	)
	Equity accounted income (loss)		(5	)		(4	)		(14	)		—			(23	)
	Interest income (expense), net		238			142			401			20			801
	Equity accounted Adjusted EBITDA²		28			40			20			—			88
	Amounts attributable to non-controlling interests³		(320	)		(157	)		(746	)		—			(1,223	)
	Adjusted EBITDA	$	205		$	109		$	307		$	(30	)	$	591

Notes:
1.	Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $236 million of net gain recognized upon the deconsolidation of our healthcare services operation, $189 million of expenses related to employee incentive payments linked to the realization of value at the Corporation’s operations, $59 million of net revaluation losses, $57 million of business separation expenses, stand-up costs and restructuring charges, $19 million of net loss on debt modification and extinguishment, $3 million of transaction costs and $12 million of other expenses.
2.	Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the Corporation that is generated by our investments in associates and joint ventures accounted for using the equity method.
3.	Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.

Brookfield Business Corporation Reconciliation of Non-IFRS Measure

		Six Months Ended June 30, 2025
	US$ millions, unaudited	Business Services			Infrastructure Services			Industrials			Corporate			Total

	Net income (loss)	$	253		$	(17	)	$	240		$	(85	)	$	391

	Add back or deduct the following:
	Depreciation and amortization expense		430			340			727			—			1,497
	Impairment reversal (expense), net		—			—			14			—			14
	Gain (loss) on dispositions, net		(6	)		(214	)		—			—			(220	)
	Other income (expense), net¹		(132	)		(3	)		322			(1	)		186
	Income tax expense (recovery)		27			35			25			(19	)		68
	Equity accounted income (loss)		(8	)		22			(29	)		—			(15	)
	Interest income (expense), net		468			291			767			45			1,571
	Equity accounted Adjusted EBITDA²		52			73			35			—			160
	Amounts attributable to non-controlling interests³		(666	)		(314	)		(1,490	)		—			(2,470	)
	Adjusted EBITDA	$	418		$	213		$	611		$	(60	)	$	1,182

Notes:
1.	Other income (expense), net corresponds to amounts that are not directly related to revenue earning activities and are not normal, recurring income or expenses necessary for business operations. The components of other income (expense), net include $236 million of net gain recognized upon the deconsolidation of our healthcare services operation, $196 million of expenses related to employee incentive payments linked to the realization of value at the Corporation’s operations, $135 million of business separation expenses, stand-up costs and restructuring charges, $125 million of unrealized gains recorded on reclassification of property, plant and equipment to finance leases at our offshore oil services, $110 million of net revaluation losses, $38 million of transaction costs, $22 million of net loss on debt modification and extinguishment and $46 million of other expenses.
2.	Equity accounted Adjusted EBITDA corresponds to the Adjusted EBITDA attributable to the Corporation that is generated by our investments in associates and joint ventures accounted for using the equity method.
3.	Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by the non-controlling interests in consolidated subsidiaries.