Brookfield Business Q1 Net Income Halves; Clarios Secures $1B Credit, $500M OpenAI Investment
Brookfield Business posted Q1 2026 net income of $40M ($0.19 per share) versus $80M a year ago, with Adjusted EBITDA of $582M. Clarios secured $1B in annual tax credits, Brookfield realized a 3× return on a La Trobe stake sale and committed $500M to an OpenAI partnership.
1. Q1 2026 Financial Results
Brookfield Business Corporation reported net income attributable to shareholders of $40 million, or $0.19 per Class A share, for the quarter ended March 31, 2026, down from $80 million, or $0.38 per share, in Q1 2025. Adjusted EBITDA was $582 million, compared to $591 million a year earlier.
2. Segment Performance
The Industrials segment generated $320 million of Adjusted EBITDA, a 7% increase excluding recent transactions; Business Services delivered $208 million, also up 7%; Infrastructure Services produced $90 million, driven by lottery and modular leasing services ramp-up. Excluding acquisitions, dispositions and tax credits, Adjusted EBITDA rose 5% to $488 million.
3. Key Transactions and Partnerships
Clarios received approximately $1 billion in cash tax credits for fiscal 2025, with similar annual credits through 2030, to support a multi-billion-dollar U.S. investment program. Brookfield sold a 27% interest in La Trobe Financial at a 3× return on its original investment and committed $500 million to The OpenAI Deployment Company for enterprise AI deployment.
4. Outlook and Growth Strategy
Management expects continued strong demand for essential industrial and services businesses and aims to compound capital at attractive returns. The company anticipates sustaining momentum throughout 2026 to drive long-term shareholder value.