By Adriano Marchese
Shares of Brookfield Renewable Partners rose after the company logged a narrower-than-expected loss in the fourth quarter and said that it sees a strong demand for clean power in 2025.
Shares traded 3.7% higher in Toronto at 30.99 Canadian dollars ($21.25). Earlier in the morning, shares reached as high as C$31.82.
The renewable power company, which is majority-owned by Brookfield Asset Management, reported a loss of 6 cents a share, compared with a profit of 1 cent a share a year earlier. Analysts polled on FactSet expected a steeper loss of 26 cents a share.
Revenue rose to $1.43 billion, up from $1.32 billion but just shy of an expected rise to $1.45 billion by analysts.
Looking ahead, Chief Executive Connor Teskey said the outlook for clean power is strong and demand is accelerating thanks to corporate customers developing data centers and electrification build-out more broadly.
"In this environment, we feel few, if any, are as well positioned as us with our large-scale pipeline, our leading global capabilities and our substantial liquidity to capitalize on this growing demand for years to come," Teskey said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 31, 2025 09:58 ET (14:58 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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