Brookfield Renewable Partners BEP reported fourth-quarter 2024 operating loss of 6 cents per unit, narrower than the Zacks Consensus Estimate of a loss of 12 cents. The firm reported earnings of a cent in the year-ago quarter.  

The stock has moved up 3.5% following the earnings release on Jan. 31, owing to better-than-expected bottom-line performance.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Total Revenues of BEP

Revenues of $737 million missed the Zacks Consensus Estimate of $837 million by 12%. However, the figure increased 3.5% from the year-ago quarter’s $712 million.

Full-year 2024 revenues totaled $3.2 billion, up 14.2% from last year’s recorded figure of $2.8 billion.

Highlights of BEP’s Earnings Release

BEP generated FFO of $1.2 billion, or $1.83 per unit, up 10% year over year. These strong results reflect the benefits of its increasingly diverse business and robust growth levers despite historically weak hydrology at North American hydro assets.

The firm’s hydroelectric segment delivered FFO of $511 million on the back of strong results in the back half of the year from its Colombian assets where it had higher generation and realized pricing due to a robust energy price environment.

BEP will have 6,000 gigawatt-hours per year of generation available for contract over the next five years. The company expects this to significantly uplift cash flows from higher realized pricing and provide significant growth funding from upfinancing opportunities resulting from executing new contracts.

Brookfield Renewable Partners’ distributed energy, storage and sustainable solutions segments saw significant year-over-year growth, generating a combined $329 million of FFO, up 78% from the prior-year level, with a strong performance from Westinghouse where it continues to see positive momentum.

BEP’s Financial Position

As of Dec. 31, 2024, BEP had cash and cash equivalents of $3.1 billion compared with $1.1 billion as of Dec. 31, 2023.

As of Dec. 31, 2024, BEP had available liquidity of more than $4.3 billion, which indicates significant flexibility.

BEP completed nearly $27 billion in financings in 2024, a record for its business, opportunistically extending average maturities and optimizing its portfolio's capital structure, including the execution of $800 million of upfinancings.

BEP’s Zacks Rank

The firm currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

IDACORP IDA is scheduled to report fourth-quarter results on Feb. 20, before market open. The Zacks Consensus Estimate for earnings is pegged at 63 cents per share, which suggests a year-over-year increase of 3.3%.

IDA’s long-term (three to five years) earnings growth rate is 8.35%. The Zacks Consensus Estimate for 2024 earnings is pinned at $5.42 per share, which implies a year-over-year improvement of 5.5%.

Alliant Energy LNT is slated to report fourth-quarter results on Feb. 20, after market close. The Zacks Consensus Estimate for earnings is pegged at 68 cents per share.

LNT’s long-term earnings growth rate is 6.75%. The Zacks Consensus Estimate for fourth-quarter sales is pinned at $1.20 billion.

Pinnacle West Capital Corporation PNW is scheduled to report fourth-quarter results on Feb. 25, before market open. The Zacks Consensus Estimate for earnings is pegged at a loss of 15 cents per share.

PNW’s long-term earnings growth rate is 5.58%. The Zacks Consensus Estimate for 2024 earnings is pinned at $5.13 per share, which implies a year-over-year improvement of 16.3%.

 

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