Brookfield Business Corporation announced its financial results for the third quarter ended September 30, 2024. The company reported revenue of US$2.21 billion, marking a 25% decrease compared to the third quarter of 2023. This revenue decline indicates a challenging period for the company's top-line performance.
The company recorded a net loss of US$6.39 per share for the quarter, a notable shift from the US$1.33 profit per share reported in the same period of the prior year. This significant swing to a loss highlights pressures on profitability during the quarter.
Despite the net loss, CEO Anuj Ranjan noted that the company achieved solid financial results and generated over $350 million from distributions and announced monetizations. These proceeds included the sale of a significant portion of its offshore oil services operation, demonstrating ongoing capital recycling efforts.
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