Brookfield Renewable Partners LP (BEP) saw its stock price soar 5.06% during intraday trading on Friday, following the release of its fourth-quarter financial results that significantly exceeded analyst expectations.
The renewable energy partnership reported quarterly earnings of $0.54 per share, beating the consensus estimate of a $0.10 loss by 640% and marking a substantial improvement from a $0.06 per share loss in the same period last year. Revenue for the quarter reached $1.539 billion, surpassing estimates of $1.460 billion by 5.41% and representing a 7.47% year-over-year increase.
Additionally, the company announced a 5% increase in its quarterly distribution to 39.2 cents per unit, payable on March 31. Funds from operations for the quarter rose to $0.51 per unit, up from $0.46 a year earlier, further demonstrating the company's operational strength amid challenging market conditions.
Comments