Brookfield Business Partners L.P. (NYSE:BBU) Q1 2022 Earnings Conference Call May 6, 2022 11:00 AM ET

Company Participants

Alan Fleming - Senior Vice President, Investor Relations

Cyrus Madon - Chief Executive Officer

Jaspreet Dehl - Chief Financial Officer

Patrick Fragman - Chief Executive Officer, Westinghouse Electric Company

Conference Call Participants

Devin Dodge - BMO Capital Markets

Geoff Kwan - RBC Capital Markets

Gary Ho - Desjardins Capital

Jaeme Gloyn - National Bank.

Nik Priebe - CIBC Capital Markets

Dimitry Khmelnitsky - Veritas

Matthew Weekes - iA Capital Markets

Operator

Welcome to the Brookfield Business Partners First Quarter 2022 Results Conference Call and Webcast. As a reminder, all participants are in a listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

Now, I’d like to turn the conference over to Alan Fleming, Senior Vice President of Investor Relations. Please go ahead, Mr. Fleming.

Alan Fleming

Thank you, operator and good morning. Before we begin, I’d like to remind you that in responding to questions and talking about our growth initiatives and our financial and operating performance, we may make forward-looking statements. These statements are subject to known and unknown risks, and future results may differ materially. For further information on known risk factors, I encourage you to review our filings with the securities regulators in Canada and the US, which are available on our website.

Joining me today on the call is Cyrus Madon, Chief Executive Officer; and Jaspreet Dehl, our Chief Financial Officer. We are also joined today by Patrick Fragman, Chief Executive Officer of Westinghouse Electric Company, our nuclear technology services business.

I'll first turn the call first over to Cyrus to share an update on our business and then Patrick will discuss our strategic priorities and recent developments at Westinghouse. Jaspreet will finish with a discussion of our financial results. We'll then be available to take your questions.

And with that, I'll pass it over to Cyrus.

Cyrus Madon

Thanks very much, Alan. Good morning, everyone. Thanks for joining us today. We've had a great start to 2022. Adjusted EBITDA increased 30% over the prior year, and we're continuing to be very pleased with the overall performance of our operations.

Most of our businesses are global providers of essential products and services. Their scale, pricing power and durable market positions are serving us well in a volatile environment.